These steps of Akfen Real Estate Investment Trust (Akfen REIT), which continues to enrich its portfolio with investments in different areas of real estate and continuously increase its rental income at a record rate, reflect positively on the total portfolio value.
The total portfolio of Akfen REIT, which consists of 20 hotels, 1 holiday village, 2 student dormitories and 1 office building in Turkey, TRNC and Russia, has added the Istanbul Söğütlüçeşme, Bodrum Yalıkavak and Kıyıkışlacık lands, which are currently under investment, to its portfolio in 2022. value of 600 million euros.
The positive results of Akfen Real Estate Partnership (Akfen REIT), which has left behind the restructuring period it has been in since 2021 and has managed to increase its revenues in every period as a result, with the land purchases that it will develop new projects for, continue to be reflected in the portfolio asset values.
Akfen GYO, which has acquired a portfolio of 20 hotels, 1 holiday village, 2 student dormitories and 1 office building in Turkey, TRNC and Russia, from which it generates rental income, as well as Istanbul Söğütlüçeşme, Bodrum Yalıkavak and Kıyıkışlacık lands, which are currently in the investment phase. The total portfolio value of the company, which was 435 million Euros at the end of last year, increased to 600 million Euros.
Akfen REIT, which will announce its rental income from its completed projects in 2022 in mid-January, is expected to set a new record in this field.
DIVERSIFYING ITS PORTFOLIO WITH NEW LAND PURCHASES
On the other hand, Akfen REIT continues to diversify its portfolio in different areas of real estate.
Akfen REIT, which will develop a villa project on a land of 22 thousand square meters in Bodrum Yalıkavak, which it has purchased with all the licenses and permits ready, will generate new income in addition to its current revenues with the sale of these villas to be built.
In the last days of 2022, Akfen REIT established Gökliman Yatırım İnşaat Turizm ve Geothermal Tic. announced that it had purchased all of its shares at a 40% discount for $25.5 million. Akfen REIT aims to develop another project on the 84 thousand square meter plot of land owned by the company in Kıyıkışlacık, located in the Milas district of Muğla, and generate additional income from it.