Turkish Real Estate Undiscovered Gems With Strong Fundamentals

Vakif Gayrimenkul Yatirim Ortakligi

Market Cap: ₺9.6b

A real estate investment trust.

Sinpas Gayrimenkul Yatirim Ortakligi

Market Cap: ₺17.8b

Sinpas Insaat Anonim Sirketi (Sinpas Insaat), which was established on 22 December 2006 with the aim of transforming into a Real Estate Investment Partnership (REIT), applied to the Capital Markets Board (CMB) with the request to transform into a REIT and following the approval of the relevant request, it was transformed into a REIT by being registered in the trade registry on 3 May 2007 and its title was changed to Sinpas Gayrimenkul Yatirim Ortakligi A.S.

Akfen Gayrimenkul Yatirim Ortakligi

Market Cap: ₺11.4b

Akfen Gayrimenkul Yatirim Ortakligi A.S. (“the Company” or “Akfen GYO”) was restructured as a real estate investment trust by transforming Aksel Turizm Yatirimlari ve Isletmecilik AS (“Aksel”).

Pera Yatirim Holding Anonim Sirketi

Market Cap: ₺19.5b

PERA Gayrimenkul Yatirim Ortakligi AS is a publicly owned real estate investment trust.

Bati Ege Gayrimenkul Yatirim Ortakligi

Market Cap: ₺10.1b

An investment company, invests in the real estate sector in Denizli and the rest of Aegean Region.

Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi

Market Cap: ₺10.3b

Engages in the real estate investment activities.

Reysas Gayrimenkul Yatirim Ortakligi

Market Cap: ₺45.8b

Reysas Gayrimenkul Yatirim Ortakligi A.S.