Is REIC sells its office building in Istanbul Finance Center to Kuveyt Turk’s joint firm
The promotional photo shows an aerial view of a 25-storey office building in Istanbul Finance Center, recently sold by Is REIC to Kuveyt Turk's subsidiary, KT Saglam Real Estate. (Image via isgyo.com.tr)
Is Real Estate Investment Company (Is REIC), a subsidiary of Türkiye’s largest private bank, Is Bank, announced the sale of its 25-story office building in Istanbul Finance Center to Kuwait-owned bank Kuveyt Turk’s joint company, KT Saglam Real Estate.
According to a statement submitted to the Public Disclosure Platform on Tuesday, Is REIC reported that the sale amounted to ₺5.6 billion ($153.58 million) plus value-added tax (KDV).
The office building offers approximately 35,000 square meters (376,736 square feet) of available space in the heart of the financial center.
Beginning construction in 2016, the Istanbul Finance Center was inaugurated in 2023, aiming to become one of the world’s top five financial centers.
Founded in 1999, Is REIC is a real estate investment company operating in compliance with the laws and regulations of the Turkish Capital Markets Board (SPK).
