The merger of Exsa Gayrimenkul Proje Geliştirme A.Ş. into Tursa Sabancı Turizm ve Yatırım İşletmeleri A.Ş. aims to enhance the efficiency of real estate asset management in Turkey's growing market.

Target Company Overview

Exsa Gayrimenkul Proje Geliştirme A.Ş. (Exsa) is a wholly-owned subsidiary of our company, focused on investment properties. To enhance the efficiency and commercial management of its real estate assets, Exsa has undergone a restructuring process that has resulted in the transfer of all its assets and liabilities to another wholly-owned subsidiary, Tursa Sabancı Turizm ve Yatırım İşletmeleri A.Ş. (Tursa). This merger was officially completed on October 31, 2024.

Additionally, the decision to transfer 76.84% of the shares representing the capital of Ankara Enternasyonal Otelcilik A.Ş. (AEO), which is directly owned by our company, to Tursa has also been made. This transfer was finalized on December 11, 2024. As a result of these transactions, the assets belonging to Exsa and AEO will be preserved within our overall asset portfolio through Tursa.

Industry Overview in Turkey

The real estate sector in Turkey has been experiencing rapid growth, influenced by urbanization trends and government initiatives aimed at stimulating foreign investment. Key cities, particularly Istanbul, have seen