In Istanbul Beykoz Riva Revenue Sharing Model Project in Return for Land Sale Tender which was held in accordance with our company's tender and contract regulation, the highest offer was given by Fema İnşaat Ticaret A.Ş. & KLV İnş. A.Ş. Joint Venture and it has been tendered to aforementioned JV whom has been invited to sign the contract in accordance with the regulation; however, because of the fact that Fema İnşaat Ticaret A.Ş. & KLV İnş. Inc. JV has not signed the contract until the end of the deadline of 15.08.2017, according to the tender agreement's clauses, the process of cashing out JV's collateral and recording it as revenue has started, meanwhile it has been decided to tender the Project to the second highest bidder Yılmaz İnşaat Taahhüt ve Tic. A.Ş.

The offer was ​​given by Yılmaz İnşaat Taahhüt ve Tic. A.Ş.as follows,

Estimated Total Sales Revenue (ETSR): TRY 3.808.000.000

Company Revenue Share Ratio (CRSR): 25 %

Company's Share in Total Revenue ( CSTR) : TRY 952.000.000

80 % of the revenue obtained from the projects will belong to Galatasaray Sports Club Association and 20 % will belong to Emlak Konut.

In accordance with the Turkish capital markets regulations, in case of any discrepancy between the Turkish and English versions of disclosures, the Turkish language version which is published on the Public Disclosure Platform (Kamuyu Aydınlatma Platformu) shall prevail.

