Akfen REIT in Brief

AKFEN REIT IN BRIEF

Akfen Real Estate Investment Trust Inc. was established in 2006 by transforming and restructuring Aksel Tourism Investments and Management Inc., which started its activities in 1997, into a real estate investment trust.

Over the years, Akfen REIT, drawing its power from the deep-rooted background of Turkey’s infrastructure builder Akfen Holding, has assumed a pioneering role in its sector with the experience it has gained in the field of project development and construction in economic city hotel management.

Akfen REIT, which maintains its strategic partnership with Accor SA, one of the world's leading companies in the field of international chain hotel management, has realized numerous city hotel projects under the Ibis and Novotel brands as a result of this cooperation.

Akfen REIT has reached a size of 20 hotels and 1 office building located in Turkey, Russia, and Turkish Republic of Northern Cyprus with leasing the hotels whose construction process was completed to Accor with long-term contracts. Akfen REIT generated regular and predictable rental income with this business model.

Akfen REIT secured a trusted position in the sector by establishing itself as one of the select REIT corporations with regards to the net asset value with its qualified projects in the real estate sector.

Akfen REIT went public on 11 May 2011 and continues to be traded on Borsa Istanbul (BIST) with the share code "AKFGY" since then.

The real estate investment portfolio of Akfen REIT, whose value has been increasing over the years, includes Ibis and Novotel in Zeytinburnu, five-star Novotel in Karaköy, Ibis in Esenyurt, Ibis in Ankara, Ibis in Eskişehir, Novotel in Trabzon, Ibis and Novotel in Kayseri, Ibis and Novotel in Gaziantep, Ibis in Bursa, Ibis in Adana, Ibis in İzmir, Ibis in Tuzla and Ibis in Yaroslavl, Samara, Kaliningrad  and Moscow in Russia and five-star Merit Park Hotel in Turkish Republic of Northern Cyprus projects as of the end of 2020. The portfolio also includes an office building with 4,637 m2 usage area in Samara, Russia.

The value of Akfen REIT's investment real estate portfolio has approached 3 billion TL.

Akfen REIT, which currently invests mainly in real estate-based capital market instruments, focuses on creating and developing a real estate portfolio.