Real estate Housing GYO announced that the plot cycle in Bursa Nilüfer is not a procurement but a revenue sharing protocol
Real Estate Housing GYO denied reports that the estate in Bursa Nilüfer was bought for 20 billion TL on 26 September 2026. The company stated that the estate was taken over by the company under the Arsa Sale Against Revenue Sharing protocol signed with Bainbridge Real Estate, without any payment being made and withholding property costs.
What does it mean?
The news in the press that 'Emalk Konut bought a plot for 20 billion TL' is false; the company bought the land without paying the money, and will share the proceeds after sale.
Who is affected?
Real Estate Housing GYO shareholders and potential investors involved in the project in Bursa Nilüfer.
What changes?
Initially, it was claimed in the press that the land was purchased for TL 20 billion and not disclosed to the public; now the company announced that it was not a purchase, but a protocol for sharing unpaid income and that it would be disclosed to the public.