Dear Our Stakeholders,
2024 was a year marked by global economic turmoil, geopolitical risks, and sectoral transformations. While the effects of the post-pandemic recovery continue, rising energy and construction costs, disruptions in supply chains, and global inflationary pressures have reshaped the real estate market, as they have reshaped all other sectors. Despite this challenging outlook, the housing sector remains a safe haven for both domestic and international investors.
In addition to the traditional appeal of real estate to domestic investors, the growing young population, urbanization trends, and the ongoing need for quality housing have made Turkey a promising market in this field. Demand for comfortable, safe, and environmentally friendly living spaces is increasing with each passing day, especially in major metropolises like Istanbul.
As İhlas Gayrimenkul Proje ve Geliştirme A.Ş, we have rapidly adapted to these changing industry dynamics, further strengthening our position in the sector with quality-focused projects that are grounded in family values, prioritize environmental sustainability, and are focused on quality.
As of 2024, we have received the building permit for our new residential project, consisting of 473 apartments and 25 office spaces, located on a 43,000-square-meter site in Firuzköy, Avcılar, Istanbul. With this project, we aim to offer a functional and aesthetically pleasing living space that adds value to the branded housing segment.
Moreover, one of our affiliates, İhlas Yapı Turizm ve Sağlık A.Ş., signed a contract in return for flats to develop a residential project on a 117-acre site in Başakşehir, Istanbul, in 2024.
Furthermore, we are excited to carry out the completion and delivery of Kristal Tower, the final block of our Kristalşehir project, located at the Istanbul Beylikdüzü Tüyap Intersection in 2025.
Sustainability, environmental awareness, and energy efficiency are at the core of our projects. In the new projects we launched in 2024, we began implementing numerous environmentally friendly practices, including gray water and rainwater recycling systems, solar panels, green building certifications, electric vehicle charging infrastructures, and energy-efficient lighting systems. Thus, we strive not only to improve the quality of life but also to contribute to the conservation of natural resources.
Local incentives that support economic stability, accessible financing opportunities, and innovative investment models will continue to support the growth of our sector in 2025. As İhlas Gayrimenkul, we aim to further solidify our position in the sector and provide more families with safe, high-quality, and sustainable living spaces with our service approach focused on customer satisfaction.
With the confidence and experience gained from our past, we are working diligently to implement projects that will shape the future. I extend my sincere gratitude to all our customers, investors, business partners, and dedicated team members who have supported us on this journey.
Sincerely,
Şadi ÇİÇEKCİ
General Manager