Page 37 - Annual Report 2018

Nurol Park, Basın Ekspres, Istanbul/Turkey Nurol Tower, Mecidiyeköy, Istanbul/Turkey

ounded in September 1997, Nurol Gayrimenkul Yatırım Another Nurol REIT’s project in Istanbul is Nurol Life
Ortaklığı A.Ş. (Nurol Real Estate Investment Trust - Seyrantepe project. Built on 9.500 sqm of land right next to
FNurol REIT) started its operations with a registered the Turk Telekom Arena, the promise of the apartments in
capital ceiling of TRY 10 million and paid capital of TRY 1 Nurol Life, which has been designed with windows that can
million. In 1999, 49 percent of its shares were offered in an be opened, stone walls that breathe, 4 meter-high ceilings
initial public offering and in February 2000, its capital was and splendid forest view, is life in a home that is both
increased to TRY 5 million. The Company’s asset size reached luxurious and spacious. The interior architecture is a
TRY 1.781.231.509 and the paid capital is 80 million TRY and culmination of the work by the renowned design office
26% of its shares are listed as of 31 December 2018. Autoban and has been executed using premium materials
of world famous construction brands. Nurol Life will have a
Nurol REIT’s portfolio includes Nurol Plaza in Maslak, which total of 439 tower houses, 26 terrace houses, 50 offices.
is deemed as the finance and business center of Istanbul; Nurol Life will be built as a tower of 50 stories and it will
Nurol Residence which is one of the most luxurious housing offer different alternatives for living thanks to its
projects of Ankara; Karum Business and Shopping Center, apartments ranging from 68 sqm up to 248 sqm. The
which is among major attraction centers of Ankara; and project will include different residence options from
OASIS Shopping, Culture and Entertainment Center in studio flat to half and full floor penthouses which satisfy
Bodrum, the center of Turkish tourism industry. Nurol REIT the taste and needs of all kinds.
maintains its commitment in its industry with its new
investments in addition to its existing portfolio. Nurol REIT has taken its place among the leading
companies in its industry by producing value-added
In 2011, Nurol REIT bought Yıldız Technical University land projects in terms of land-development, project-designing,
in Mecidiyeköy, Şişli, owned by the Mass Housing marketing and sales since the very beginning of its
Administration paying for $70 million. Nurol Tower is now operations with its qualified and experienced staff.
rising on this land of 7.000 sqm with a total investment of
$140 million. Nurol Tower which is located at the intersection
of the main roads in Mecidiyeköy, a major hub Istanbul, will
become a multifunctional investment instrument with office
concepts bearing both the office and residence functions.

Another project of Nurol REIT is Nurol Park in Basın Ekspres, NUROL REAL ESTATE INVESTMENT TRUST INC. (Thousand TL)
Istanbul. The land with an area of 55.000 sqm which is
commonly known as Hürriyet Media Towers was purchased 2016 2017 2018
for $127,5 million. The project is available for mixed use but it is TOTAL ASSETS 1.860.937 1.841.011 1.781.232
mainly consisting of houses. At Nurol Park, there will be a total TOTAL EQUITY 206.411 217.473 -18.539
of 1.186 houses available at various sizes suitable for different SALES INCOME 466.925 351.529 223.951
needs in different concepts. The project also includes Oasis EBITDA 97.052 67.860 24.289
Designer Outlet which is an open air shopping mall with Figures are calculated from the consolidated financial statements in accordance with IFRS.
exclusive brands and office block which has 19.000 sqm area.

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