August 30th
Happy Victory Day!
NEWS & ANNOUNCEMENTS
Legal 500 2024 EMEA Edition
We are elated to announce that our Firm has been ranked as a Top Tier Law Firm in Real Estate and Construction for the 6th consecutive year and Leading Law Firm in Dispute Resolution in Legal 500 2024 EMEA Edition.
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.
