Kiler GYO

As part of its construction activities, which started with the management of real estate development and construction works required by the group companies, Kiler Family has gained extensive experience in key aspects such as determining the right locations throughout Turkey, purchasing land and property, renting, designing and decorating stores, and managing license procedures, especially during the development and opening of store networks, which is one of the most important elements of the retail business. With the establishment of Biskon Yapı, the construction activities went beyond meeting the needs of the group and turned into a professional construction activity.

To date, it has completed the rough works, fine works, electrical, mechanical, heating, lighting, decoration and infrastructure works of 150,000 square meter construction of more than 170 stores throughout Turkey and has made the stores ready for service.

With the experience gained in the construction and renovation of supermarket stores, Kiler Group gained significant experience regarding the features that retailers look for and need in rental commercial real estates, and with such experience, it started to invest in bazaars and shopping malls.

In addition, residential projects for different income groups were developed in various locations. It has also proven its success in real estate development by completing the construction of Istanbul Sapphire Residence and Shopping Mall, the highest (261m), most ambitious and most exclusive project of Turkey and Western Europe, representing the last word in real estate investment and development, hosting many firsts and “bests” in the field of architecture and engineering.

Dating back to 1994, the Company’s real estate development and construction business has developed as follows:

→ In 1994, store furnishings began throughout Istanbul. To date, the project management of 175 stores across Turkey, varying in size from 1,000 to 4,000 m², has been carried out.

→ In 1997, the construction of a store and business center with a total construction area of 12,100 m² was completed in Şirinevler.

→ In 1997, a residential building with a total construction area of 2,000 m² was built in Avcılar.

→ In 1998, the first building was constructed in Güngören. The building, which has a construction area of 35,000 m² on a land of 7,000 m², was built as a warehouse, store, administration offices and a school building.

→ In August 2001, a 13.000 m² building was built on a 7.500 m² land in Ateştuğla, Bağcılar.

→ In 2001, a residential building with 30 apartments was built in Beylikdüzü.

→ In 2002, a store with a total area of 5,000 m² was built on a 6,000 m² land in Başakşehir.

→ In 2002, a residential area with a construction area of 5.500 m², consisting of 2 blocks and 4 apartments, was built in Florya.

→ In 2004, in Esenkent, Kardelen Evler Sitesi, consisting of 2 blocks, and a business center of 9,000 m², were implemented as a construction area of 31,000 m² on a land of 7,000 m² in total.

→ Kiler Logistics Center, the construction of which started in July 2005, became operational at the end of 3 years. It offers logistics and storage services over an area of 83,560 m².

→ Istanbul Sapphire, one of the most prestigious real estate projects in Turkey, the construction of which started in 2006, has a construction area of 165,139 m² and is the tallest building in Turkey and Western Europe, with a height of 261 meters.

→ Hikmet Kiler Science High School, the foundation of which was laid in July 2007, was opened in August 2008. It was built on an area of 15,000 m². It consists of two buildings, the education building and the hostel building.

→ Çınar Evler Sitesi, the construction of which started in 2008, consists of 5 blocks having 9 and 10 floors. Çınar Evler, built on a total area of 11,000 m², has a construction area of 40,000 m².

→ Purchase of the land share of the Referans Panorada Project in 2015 and inclusion of it in the portfolio by signing an Agreement for Real Estate Promise to Sell and Construction in return for Land Share with the other right holders. Inclusion of the Referans Bahçeşehir Project in the portfolio with the Revenue Sharing Against Land Sale model as a result of the tender for the “Construction of Kiptaş Bahçeşehir Merkez Houses with Revenue Sharing in return for Land Sale”. Referans Kartal Kordonboyu Project was included in the portfolio with a “Statutory Form Agreement for Promise to Sell Real Estate and Construction in Return for Flat”. The size of the portfolio was increased with a “Statutory Form Agreement for Promise to Sell and Construction in Return for Land Share and Revenue Sharing” signed between Kiler GYO A.Ş., the landowner of the land located on Parcel no. 1, Block no. 482 in Istanbul city, Beylikdüzü district, Yakuplu village, and the landowners of the neighboring land located on Parcel no. 88 in Istanbul city, Beylikdüzü district, Yakuplu village. The size of the portfolio was increased with a “Statutory Form Agreement for Promise to Sell and Construction in Return for Flat” signed between Kiler GYO A.Ş., the landowner of the lands located on Parcel no. 1, Block no. 481 and Parcel no. 1, Block no. 484 and Parcel no. 1, Block no. 485, in Istanbul city, Beylikdüzü district, Yakuplu village, and the landowners of the neighboring land located on Parcel no. 69, Block no. 0 in Istanbul city, Beylikdüzü district, Yakuplu village.

→ In 2016, 99% of Referans Kartal Towers Project Land was purchased from İller Bankası A.Ş. and 99% of the total property of 457 independent sections on which construction servitude was established was taken over from İller Bankası A.Ş. A protocol was drawn up regarding the sale of the land with a surface area of 49,949 m² on Parcel no. 1356 in Block no. 1 in Izmir City, Seferihisar District.

→ In 2017, a “Statutory Form Agreement for Promise to Sell Real Estate and Construction in Return for Land Share” was signed with the contractor company Uğurlu İnşaat-Ramis Uğurlu for the residential project on Parcel no. 483 / 5 (Prestij Konakları 5). The share of Kiler GYO A.Ş. in the land of 18,554.58 m², located on Parcel no. 3, Block no. 842 in Istanbul City, Beylikdüzü District,was sold to contractor company and removed from the portfolio. A “Statutory Form Agreement for Construction in Return for Flat and Revenue Sharing in return for Land Sale” was signed with the Joint Venture İhlas Marmara Evleri. The Land with an area of 49,949 m² on Parcel no. 1356 in Block no. 1 in Izmir city, Seferihisar District, Payamlı Neighborhood, Galinos Locality was sold, and the entire sale price was collected. The construction of Zonguldak Westalife Shopping Mall was completed and it was put into service on 12.05.2017. A “Statutory Form Agreement for Promise to Sell and Construction in Return for Flat” was signed in order to develop a project on the land of 3,696 m² located in Istanbul City, Bahçelievler District, Yenibosna Neighborhood, and it was included in the portfolio. The portfolio size was increased by purchasing 4 warehouses in the main real estate registered in Istanbul City, Esenyurt District, on Parcel no. 10 and Block no. 347, and this purchase was aimed to generate regular rental income. Referans Güneşli Project was completed and delivered to its occupants.

→ In 2018, rental activities continued in real estates with rental income in our portfolio. Construction activities of the projects in our portfolio continued.

→ All of the remaining stock of the independent sections in 2019 Referans Güneşli Project were sold, and the project was removed from the portfolio. The land of Referans Bahçeşehir project was purchased from Kiptaş İstanbul Konut İmat Plan. Tur. Ulaşum San. ve Tic.A.Ş.(KİPTAŞ) in order to increase the size of the portfolio. A financial burden of 619 million TRY was eased by selling the real estate properties located in Istanbul Sapphire and Ankara Dışkapı projects. → Referans Kartal Towers Project was completed and delivered to its occupants in 2020. Referans Kartal Kordonboyu Project was completed and delivered to its occupants. The portfolio value was increased by signing a revenue sharing agreement with Kiler holding for Referans Başakşehir Vadi Project.