Statement of 'Palladium Ataşehir' by Tahincioğlu

Description of Palladium Atasehir from Tahinciogl
Description of Palladium Atasehir from Tahinciogl

Tahincioğlu Gayrimenkul Chairman Özcan Tahincioğlu made a statement regarding the news in the media about the sale of our Palladium Ataşehir Shopping Center to Ak Portföy.

Özcan Tahincioğlu's statement is as follows; “Tahincioğlu Gayrimenkul Chairman of the Board of Directors Özcan Tahincioğlu said,“ Despite the relentless struggle with coronavirus in our country and in the world, we spent 2020 quite successfully, with a sales of 2 billion 250 million TL, far above our targets. Our brand, which is the leader of the sector, has maintained this leadership in 2020. Maintaining our company's leadership in the sector is our most basic strategy. As a matter of fact, in line with our strategy of focusing only on real estate development, leaving our main business in 2018, we ended our investments in other business lines such as energy, production and agriculture. In addition, by removing the sales in our shopping centers, available in the real estate development is our main business, with funds coming here and to finance new projects amaçladık.y to in this context, 2018 at the Palladium Kayaşehir Shopping We sold our Center and Palladium Ataşehir'deki the sales at the beginning of 2019. Jones langlasall to Turkey ( JLL) to mediate the sale. JLL signed confidentiality agreements with 17 domestic and foreign investors on behalf of Tahincioğlu Gayrimenkul during our consultancy period. Seven of these investors, who examined the information of our shopping center, submitted bids to purchase the shopping mall. With the end of this process, at the end of 2020, Palladium Ataşehir, the favorite shopping center of the Anatolian Side, will be opened by Ak Portföy Yönetimi A.Ş. We sold it to the Fourth Real Estate Investment Fund. We made a stronger entry into 2021 by closing debt with all of the sales revenue. For this reason, I would like to emphasize that PalladiumAtaşehir Shopping Center's sales style and sales figures, which are featured in some news, do not reflect the truth.

We maintain our presence in the shopping mall sector with 'Palladium Antakya', which is still active, and 'Palladium Cadde Küçükyalı', which is an open-air shopping center under construction in accordance with the healthy shopping concept. We put our Palladium Cadde Küçükyalı shops on sale at the end of 2020 as a result of the planned schedule and we completed our first phase sales in record time with the intense demand. Even if we are not managing an active sales process for our Palladium Antakya Shopping Center, if a suitable offer comes, of course, we can evaluate its sales within the scope of this strategy. It should not be forgotten that our main business is to develop and sell real estates such as residences, offices, shopping malls and hotels.

We are the leader among the companies where corporate investors who want to add value to their savings as well as individual investors closely follow housing, office and shopping mall projects. We can cite the fact that funds prefer our projects to offer attractive returns to their investors as the best example of this. As Tahincioğlu; Apart from the sale of Palladium Ataşehir Shopping Center, our brand is also a leader in corporate sales with the sales we made to real estate funds of portfolio management companies such as Ziraat GYO, Vakıf GYO, Vakıf Participation, Ak Portföy, İş Portföy, Ünlü Portföy and Re-pie Portföy.

In addition, showing a figure above our total debt to all banks and financial institutions we work with in some messages on social media as a loan to a single bank is a distortion of the facts. Despite our strategic sales decision, the "confiscated" or "forced to sell" expressions are completely unrealistic. As Tahincioğlu, we will continue to develop and sell high-quality, value-creating real estates and bring them to our investors who trust us with our experience and institutionalism for more than 65 years. " he made a statement.

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