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.

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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.

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The Business Judgment Rule in Turkish Law and Its Application within Corporate Groups

Business decisions inevitably involve a degree of risk. Expecting directors to be error-free is unrealistic; as taking informed risks often serves the company’s interest.