10 Kasım 2024

We commemorate the founder of our Republic, the Great Leader Mustafa Kemal Atatürk with respect, gratitude and longing on the 86th anniversary of his passing away. His vision, determination and leadership continue to shed light not only for the future of the Turkish nation but also for the future of all humanity

NEWS & ANNOUNCEMENTS

A New Era for Real Estate Investment Funds

The Communiqué Amending the Communiqué on Real Estate Investment Funds (III-52.3) (“Communiqué”), published in the Official Gazette on 17 July 2024, Issue No. 32604, aims to boost contributions to real estate investments, a sector with significant transaction volume in the Turkish economy. Under the Communiqué, application procedures for Real Estate Investment Funds (“REIFs”) have been streamlined, enabling the issuance of participation shares linked to an umbrella fund. Additionally, “project” REIFs are now permitted to invest in projects where more than half of the total gross area of independent units is designated for residential use, as verified by independent real estate appraisal firms.

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.