DOĞUŞ-GE GYO

History

Real Estate Investment Trust (REIT) Companies started to operate in our country for the first time in 1995, thanks to regulations prepared by the Capital Market Board, and they became publicly listed in the stock exchange starting from 1997.
On July 25th 1997, our company started to operate as the third REIT in the stock exchange with the title "Osmanlı REIT", had a registered capital of 5 trillion TL and a paid-in capital of 250,000 TL and was listed on the Istanbul Stock Exchange (ISE) 100 index.
At the end of 2001, as a result of the merger of Osmanlı Bank and Garanti Bank - both belong to Doğuş Group - 51% of the company's shares were transferred to Garanti Bank, making it a financial subsidiary of Garanti Bank and its name was changed into Garanti REIT. As of the end of 2005, the company's registered capital and paid-in capital reached 500 million TL and 93.78 million TL, respectively.
As of December 1, 2006, the shareholding structure of Doğuş-GE REIT changed as Garanti Bank sold 50% of its shares to GE Capital Corporation and 50% to Doğuş Holding A.S. Currently, Doğuş Holding A.Ş. and GE Capital Corporation each hold 25.5% of the shares, while 49% of the shares are publicly held. Shares are listed on the Istanbul Stock Exchange (ISE) National 100 and ISE-GMYO industrial indices, and their ticker symbol in the national market is "DGGYO".

Vision & Mission

Supported by the synergy of the new shareholdering structure, Doğuş-GE REIT's ambition is to be one of Turkey's leading investor and developer companies. The combination of GE Real Estate's global experience and capital with Doğuş Group's experience in finance, construction and real estate will create this synergy.

DOĞUŞ-GE REIT’s mission is to increase the value of its investment portfolio through stable growth, thus maximizing shareholder value by offering higher dividends and market capitalization and to provide the highest customer satisfaction in the projects developed.

Unique and affordable housing

Strategically, DOĞUŞ-GE REIT aims at developing housing projects that are located in metropolitan cities led by big cities in Turkey; target middle and upper middle income groups; are designed around a certain theme or concept; are composed of a unique architectural offering and are affordable. The primary goal of DOĞUŞ-GE REIT is to invest in commercial properties and development projects that will provide regular, low-risk, high rental income. DOĞUŞ-GE REIT is committed to contributing to the social, cultural, artistic and economic development of the regions where it operates and conducts social responsibility projects for this purpose.

Meeting today's global standards

The competitive environment of today's business world has resulted in greater emphasis on companies' quality in production and services. Keenly aware of this fact, DOĞUŞ-GE REIT develops its business strategy on keeping with global industry standards. DOĞUŞ-GE REIT is the only company in the sector that holds ISO-9001; 2000 series quality certification.

Highlights from 2006 activities

DOĞUŞ-GE REIT continued with its policy to expand its portfolio by investing in profitable and large scale projects, thus creating a marked increase in value for its share holders and investors also in 2007.
As the company's total assets rose to YTL 136, 2 million at year-end 2007, its market capitalization reached YTL 93, 8 million.

The outlook

The primary objective of DOĞUŞ-GE REIT is to expand its existing real estate portfolio with new investments. The portfolio size that will be achieved as such and the returns to be derived will make our company one of the key players in the sector, in turn resulting in the ability to generate greater value for shareholders.

Evidea

Evidea, the company's first residential project, is composed of 473 residential units in Ümraniye, Çekmeköy; its construction started in 2004. The project was developed by joint venture where Yapı Kredi Koray REIT has a 50% share; the construction has been carried out by Dogus Construction and Koray Construction Consortium and was completed in 2007. The land belongs to Garanti Bank. Evidea was put on sale in October 2004 and all the houses were sold in a short time, approximately in one year, after which it became a brand name.

The objective of Evidea project is to offer at reasonable prices the kind of standards found in expensive homes and to reach European Union standards in housing. The project aims at optimizing the use of space, thus maximizing the benefit gained from the price paid; the focus group discussions held during the development phase of the project helped create a customer-and demand-focused design. The professional compound management system and round-the-clock security services both of which will be available right after the end of construction phase aim at creating a compound that is orderly, safe and well taken care of Evidea aims at offering its residents a life that meets European standards. Evidea aims at offering its residents a life that meets European standards. 100% of the construction has been completed at and all of the homes have been delivered to their owners by the end of 2007.

Doğuş Power Center

In the classification of shopping centers, the term "power center" is used for shopping centers that contain large shops that are category killers due to their size and the variety of the products and brands they carry. Such centers are quite common in especially the USA and offer customers the opportunity to shop comfortably in large spaces, to find a variety of brands for one product, and to ship at reasonable prices. These centers are also easy to access and park at; some contain department stores only, whereas others also contain small shops, entertainment and food units to support the department stores.

Doğuş Power Center is a pioneer in Turkey since it contains large spaces only and has a unique mixture of shops. This mixture includes units such as automotive showrooms and service areas, food market, music market, home furniture, sports equipment, electronics and foot court. Doğuş Power Center is in Maslak, an urban location that is also a main business center, and includes only large shops or 'Big Boxes'; unlike similar centers elsewhere in the world, it has high-quality internal design and furnishing. The most important factor behind this fact is that the Maslak-Levent area is Turkey's banking and finance center where many well-educated, white-collar employees work. The center also offers significant access advantages due to its proximity to the coastal road, TEM and E5 highways, the connecting roads for both bridges, and the new metro (subway) station. Doğuş Power Center offers significant advantages to the shops it hosts. Shops that cannot find reasonably priced yet large enough spaces in urban mall-type shopping centers are forced to move out of the city, thus creating disadvantages in attracting the kind of customers they want to have. Doğuş Power Center offers such shops the opportunity to have large spaces in a very central location like Maslak. The center has a total indoor area of 58.000 m2, 33.000 m2 of which is dedicated to shops. 13.000 m2 of closed and 9.000 m2 of open parking space can accommodate 900 vehicles. Doğuş Power Center was completed in November 2006 and has been in use since. According to the expertise report prepared by Elit Gayrimenkul Değerleme A.Ş by the end of 2007, its market value is 126.090.000 YTL

Romania / Bucharest, Investments

A company called "GKY Real Estate Investments SA" was established with a 50% - 50% partnership structure with Yapı Kredi Koray REIT with the objective of developing investment projects and making real estate investments in Romania.

The company's first investment was the purchase of 34.500 m2 of land in Bucharest's Voluntari region, a mostly residential area. The land was purchased at the beginning of 2005 and is available for 45.000 m2 of construction.