Message from the General Manager

Distinguished Shareholders,

Being an important instrument in the real estate and construction sectors, which are the driving force behind the national economy, Real Estate Investment Trusts are corporate institutions where the principles of transparency and accountability prevail. Thanks to this feature, Real Estate Investment Trusts ensure that unregistered sections of the economy become registered and assume an important role and responsibility in the sector for increase in tax income as well as prevention of unfair competition.

With our young population and rapidly growing economy, the biggest dream of our citizens is to own a real estate. The major reason is that real estate is considered as an assurance for the future. This holds true not only in our country but also the entire world. Research reports show that real estate is the investment instrument that offers the highest return in the last century. Over 1.1 million houses change hands in our country in a year, half of which is new housing. The fact that the number of new houses needed is above 550 thousand and the incremental increase in this need indicates how dynamic the sector is. Therefore, the sector has taken a leap forward in recent years with urban transformation and building renovation activities primarily in Istanbul.

As a subsidiary of DenizBank Financial Services Group, our vision is to continuously develop our real estate portfolio, aim for profitable investments with high added value and to contribute to our valuable shareholders, investors and other stakeholders.

Besides commercial real estate investment strategy providing regular rental income and regular cash flow along with rapid increase in value, we would like to evaluate housing projects in particular in terms of their potential profitability and consider opportunities to invest in housing and mixed-use projects as a part of this vision.

In line with our approach to provide the maximum benefit for the geography we operate in and our people, we also focus on the developing centers in Anatolia as much as Istanbul and offer our investors the chance to invest in rental and increment value income.

I would like to take this opportunity to thank our shareholders, investors, stakeholders and my colleagues. I hope that we all witness many more achievements that will contribute to our stakeholders and the development of our sector as Deniz Real Estate Investment Trust family.

Mehmet ÇİTİL
General Manager (CEO)
Deniz Gayrimenkul Yatırım Ortaklığı A.Ş.