Yapi Kredi Koray REIT to develop land plot in Istanbul
13 December 2007
The real estate investment trust Yapi Kredi Koray REIT company announced the details of its new residential “Morada” project under which it plans to develop a c. 53.8k sq.m. land plot in Istanbul. The company expects to generate c. TRY280mn in revenue, with the total investment estimated to reach c. TRY235mn.
Meanwhile, YK REIT has started the construction of a 62-unit residential and shopping centre complex, with a gross leasable area of c. 14.1k sqm. in Ankara.