Sogutlucesme (Terminal Kadıkoy) Project

The 51% stake in the Söğütlüçeşme train station in Kadıköy, Istanbul, which was purchased on March 31, 2021, as part of the High Speed Train Station project, includes a 2-year permit and license, a two-year construction period, and a lease to operate the facility until 2052. The remaining 49% stake in Fıratcan Construction Trade and Tourism Inc., the owner of the project, was purchased for 10 million euros, equivalent to TL, at a price 8% below the value determined in the valuation report prepared in accordance with SPK regulations on July 17, 2023. The existing commercial areas will be operated until 2052.

The project, which covers an area of 41,700 square meters, includes plans for an event space where concerts, theater performances, and corporate meetings can be held, a dining area featuring gourmet cuisine, a marketplace offering local and natural products, and complementary retail stores. Terminal Kadıköy commenced operations as of May 1, 2025.

Construction Area:                 21,000 m²

Leasable Area:                        16,000 m²

Operating Period:                   28 years (until 2052)

Estimated Rental Income:    8.0 million euros + VAT (*)

(*) This is the rental income for the first rental period as of the opening date.