28 January 2025

We are pleased to announce that our law firm has represented Eczacıbaşı Holding in the negotiations of the Promise to Sell Real Estate Agreement in return for Revenue Sharing executed in relation to the project to be constructed by Mia Ordinary Partnership on the 157,383-m² real estate located in Kartal District of Istanbul, owned by Eczacıbaşı Holding.

We are happy to be a part of this project, which will be one of the biggest projects in the real estate market in 2025, and we wish success to the project stakeholders. We would also like to thank all our colleagues who worked on the project.

NEWS & ANNOUNCEMENTS

Regulations on the Leasing of Properties for Tourism Purposes

The procedures and principles regarding the leasing of residential properties for tourism purposes to real and legal persons are regulated under the Law on the Leasing of Properties for Tourism Purposes and Amendments to Certain Laws Numbered 7464 ("the Law") which was published in the Official Gazette on 2 November 2023. The Law has entered into force on 1 January 2024.

NEWS & ANNOUNCEMENTS

Inheritance Rights of Non-Turkish Citizens on Properties Located in Turkey

In cases where the legator and the inheritors are non-Turkish citizens, it is first necessary to determine which country's law shall be applicable for the transition of the inheritable properties located in Turkey (“Heritage”) to the inheritors. Within this framework, pursuant to Article 20 of the International Private and Civil Procedure Law numbered 5718, Turkish law shall apply for the transition of immovable properties and for the transition of movable properties, the national law of the deceased/legator shall apply.