Land Acquisition Stage (by 2022):
The maximum number of shares is limited by 1,000 shares. Two third of these shares were purchased by the shareholders. With the financial resource obtained therefrom, large lands were acquired.
With the financial resource to be obtained from the transfer of the remaining shares, the land acquisition process will be completed.
Then, these lands will be consolidated within the scope of applicable laws.
Thus, the land size of about 3,000,000 m2 required for the realization of this project will be reached.
This means that each share corresponds to a land of about 3,000 m2.
Development Plan Stage (2022-2023):
In this stage, the project land will be zoned for construction using the privileges granted by the laws to the cooperatives. That is, the “Project Land” will have “Construction Land” status and the value of your shares will significantly increase. Following the private reconstruction permits are obtained, housings, education-training institutions, social facilities, healthcare facilities, commercial buildings and qualified landscape areas can be built up in the project land.
Construction in return for Flat Stage (2023-2024):
According to the Turkish laws, the land owners have the right to allocate their lands to a construction company (or constructor) in return for flat to own house at agreed rates and quantities.
Thus, the construction company does not necessarily purchase the construction land and reverse a financial fund for that. The cost of land is paid by the constructor to the land owner as housing at the end of project.
The land to be owned in this way will be allocated to the construction company. Then, the project construction will be started after a contract will be made with the contractor company with respect to the project construction and the necessary guarantees are taken.
Housing Delivery Stage (2027-2029):
1,000 luxury housings, each of about 300 m2, will be delivered by the construction company to the cooperative in return for our land without paying any additional payment.
The title deeds and keys of the luxury housings that are completed by the construction company and delivered to the cooperative in return for the land value will be fairly distributed to 1,000 shareholders in a random drawing under the supervision of a Notary Public.
*The Board of Directors reserves the right to change in the projections above.