Report
Cagdas Dogan
EUR 107.60 For Business Accounts Only

BGC Partners: Emlak REIT & OZAK REIT 2Q19 earnings

Emlak REIT reported TL308mn net income in 2Q19, slightly better… Emlak REIT reported TL1.9bn in revenues (well above the limited consensus of TL1.4bn), TL376mn in EBITDA (slightly higher than the TL344mn consensus), and TL308mn in net income (slightly ahead of the TL270mn consensus) in 2Q19.
Underlyings
Emlak Konut Gayrimenkul Yatirim Ortakligi A.g.

Emlak Konut Gayrimenkul Yatirim Ortakligi AS (Emlak Konut) is a Turkey-based real estate investment trust. It is engaged in coordinating and executing real estate property projects mostly housing, besides, commercial units, educational units, social facilities, and all related aspects, controlling and building audit services of the ongoing projects, marketing and selling the finished housing. The ultimate parent and ultimate controlling party of the Company is T.C. Basbakanlik Toplu Konut Idaresi Baskanligi (the Housing Development Administration of Turkey, TOKI). The Company's projects include Agaoglu My Towerland, Alemdag Emlak Konutlari, Varyap Meridian, Mavisehir Modern, Spradon Quartz and Gebze Emlak Konutlari.

Ozak Gayrimenkul Yatirim Ortakligi AS

Ozak Gayrimenkul Yatirim Ortakligi AS (Ozak GYO), an affiliate of Ozak Global Holding, is a Turkey-based company engaged in the real estate investment trust sector. It is a portfolio management company carrying out activities by investing in real estates, real estate-based projects and real estate-based capital market instruments in accordance with the principles and procedures set out by the arrangements of the Capital Markets Board on real estate investment trusts. It focuses on land development, project development, urban transformation and real estate projects. Its portfolio includes five lands and plots; two completed building and real estate projects, 34 Portall and Is Istanbul 34, as well as Ela Quality Resort Hotel real estate project which is Ozak GYO affiliate company. Ela Quality Resort Hotel is established on a total construction area of 110,000 square meters and its convention center consists of eight meeting halls, SPA&Wellness center, restaurants and recreational areas.

Provider
BGC Partners
BGC Partners

BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.

We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:

  • Mergers & Acquisitions
  • Equity Capital Markets
  • Debt Finance & Advisory

Analysts
Cagdas Dogan

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