The REICs may
  • buy and sell real estate certificates, securities on property which are issued in consideration of real property loan, and such securities which the CMB has deemed being similar to the aforesaid ones.
  • buy and sell offices, residences, office buildings, shopping malls, hospitals, hotels, warehouses, commercial parks and similar real properties to earn sale profit or rent.
  • buy and sell lands and lots to earn sale profit by buying the ownership or to develop building projects by creating independent sections.
  • sell any real property on which a superior real right in the form of an independent and permanent right is created after obtaining the ownership thereon in order for development of a building project on such property by public or private entities or real persons on behalf of the REIC, in order to earn a profit.
  • invest in any real property development project for which all licenses required by the law have been obtained, of which the designs have been prepared and ratified, and in respect of which the existence, completeness and accuracy of all documents required by the law for commencement of the construction have been certified by an independent expertise firm, at any stage of the project by obtaining the title or creating a superior right on such real property in order to earn real property development profit or rent.
  • create and use usufruct on any real property, create time share servitude on any real property, become superior right holder on a land they own in order to earn profit.
  • realise development projects by Build-Operate-Transfer method by creating a superior real right on the underlying real property, providing that the specific requirements have been fulfilled and as subject to special arrangements.
  • invest in real property backed projects which meet the specific requirements without aiming at obtaining the title or creating independent section usufruct thereon in accordance with the terms of the contract with a view of earning a share in the future rents, providing that securities deemed appropriate by the CMB are in place.
  • invest jointly in projects based on real estate which meet the specific requirements by creating independent section usufruct without limiting the disposition of the joint owners on the section allocated to the REIC on the contract between them.
  • buy and sell real estates abroad by obtaining the title thereon and invest in foreign securities, providing that they are based on real estates.
  • lease real properties from third persons and re-lease them to earn rent, providing that the special contract terms allow this.
  • execute swap and forward transactions in order to hedge the exchange rate risk arising from transactions in foreign currencies and the interest rate risk arising from debts, write options, and purchase futures other than those based on commodities.

ALARKO REAL ESTATE INVESTMENT COMPANY
Muallim Naci Cad. No : 69 34347 Ortaköy-ISTANBUL-TURKEY
Phone : (212) 227 52 00    Fax : (212) 261 84 31,   227 04 27
e-mail: agmyo@alarko.com.tr