The value of Akfen GYO's investment property portfolio reached €784 million at the end of the first half of 2025.

Akfen REIT, which pioneered the “Contemporary City Hotels” concept in 2007, has rapidly expanded its portfolio over the past 18 years and now has 19 hotels, 1 resort, 2 dormitories, 1 plot of land, 1 office building, and two projects in Florida, USA. Our new investments include Terminal Kadıkoy, set to open on May 1, 2025, and the Bodrum Yalikavak project, scheduled for completion in the first quarter of 2026. Following its initial public offering in 2011, Akfen REIT shares began trading on the Istanbul Stock Exchange on May 11, 2011. Akfen REIT, with an effective circulation rate of 44.08%, had a closing share price of 2.56 TL as of the end of the first half of 2025 (closing market value: 9.98 billion TL / 251 million USD). Akfen REIT is currently traded on the Star Market, BIST Financial, BIST REIT, BIST Buyback, and BIST All-100 indices.

From Hotel Investments to Portfolio Diversification

Akfen REIT has developed hotel projects under the Novotel and Ibis Hotel brands in Turkey and Russia, and has leased a total of 19 hotels—15 in Turkey and 4 in Russia—to Accor Group, one of the world's largest hotel operators, on a long-term basis.

Akfen REIT's portfolio also includes the 5-star resort Bodrum Loft in Bodrum. As of June 30, 2025, the total number of rooms in the 19 hotels owned by Akfen REIT is 3,342. In addition to its hotel portfolio, Akfen REIT owns an office building in Russia, two dormitory complexes consisting of a total of 13 blocks in Turkey, one factory investment, and a land investment of approximately 210 m² in Bodrum Eskiçeşme Mah. Akfen REIT continues its sustainability-focused projects without slowing down. While a food and beverage and culture-art center (Terminal Kadıköy) is opening in Istanbul Sogutlucesme, construction is ongoing for luxury villas in Bodrum Yalikavak, an apartment complex in Milas Kiyikislacik, and independent living and elderly care center projects in Florida, USA. The first phase of the “independent senior living center” to be built on a 25.7-acre site in Florida, and the “elderly care center” to be built on 11 acres, constitute the second phase of the project.

Strategic Partnerships and Long-Term Leases

Akfen REIT, which entered into a strategic partnership with Accor, one of the world's leading hotel chains, in 2005, has signed long-term lease agreements for the 19 hotels it has opened in Turkey and Russia, thereby securing regular and predictable rental income. The agreements between Akfen REIT and Accor regarding the hotels include a minimum guarantee condition for Akfen REIT's rental income. Rental income is determined as the higher of a certain percentage of turnover or adjusted hotel gross profit. This arrangement offers both a minimum income guarantee and the potential for income growth based on hotel performance.

Akfen REIT's Bodrum Loft Holiday Village is operated by Akfen Tourism, while its dormitory complexes are operated by the Student Dormitories Institution.