Contents

CHAPTER 1

06

Akfen REIT

Outlook

Akfen REIT Overview

6

Akfen REIT Portfolio

7

Partnership Structure

8

Subsidiaries

9

Milestones

10

Developments in 2021

12

Financial Landmarks

14

Accomplisments in 2021

15

Mission, Vision and Strategy

16

About Akfen Holding

18

Organizational Chart

19

Operation Map

20

Subsidiary Valuation Results

21

22

CHAPTER

2

Management

23

General Manager Message

Board of Directors

24

Senior Management

28

Declarations of Independence

30

31

CHAPTER

3

Sector Assesments

GDP and Construction Sector

32

REIT Sector

33

Tourism Sector

35

CHAPTER364

Akfen REIT Portfolio

Portfolio Table

37

Novotel ve Ibis Hotel İstanbul

38

Ibis Hotel İstanbul Esenyurt

39

Novotel İstanbul Bosphorus

40

Ibis Hotel Tuzla

41

Ibis Hotel Bursa

42

Ibis Hotel Alsancak

43

Ibis Hotel Eskişehir

44

Ibis Hotel Ankara Airport

45

Ibis Hotel Adana

46

Novotel Trabzon

47

Novotel ve Ibis Hotel Gaziantep

48

Novotel ve Ibis Hotel Kayseri

49

Merit Park Hotel Girne

50

Ibis Hotel Moscow

51

Ibis Hotel Kaliningrad

52

Ibis Hotel Yaroslavl

53

Ibis Hotel Samara ve Samara Office

54

Acquired Assets in 2021

55

Bodrum Loft

56

Isparta Student Housing

57

Kütahya Student Housing

58

Söğütlüçeşme Project

59

CHAPTER65 0

Financial Development

Financial Structure

61

Investment Properties

62

Portfolio Table

62

Rental Income

63

Total Financial Liability

64

Balances of Related Parties

64

Operational Data

66

Operational and Financial

67

Performance

Equity Performance

68

Portfolio Limitations

68

CHAPTER 6

Corporate Governance Principles Compliance

Affiliation Statement

70

Statement of Compliance with

71

Corporate Governance Principles

Shareholders

73

Public Disclosure and

76

Transparency

Stakeholders

78

Board of Directors

80

CHAPTER97 1

Sustainability Principles

Compliance Report

General Manager Message

92

Akfen REIT and Sustainability

93

Sustainability in Management

102

Sustainability in Compliance

111

Sustainability in Operation

119

Social Sustainability

125

Current Situation

127

CHAPTER138 7

Financial Statements

Consolidated Financial

139

Statement For the Year

Ended on 31 December 2021

Footnotes for Consolidated

145-220

Financial Statements

Independent Auditor's Report

221

on the Eary Identification of the

Risk Committee and System

Independent Auditor's Report

223

Abbreviations

228

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Disclaimer

Akfen Gayrimenkul Yatirim Ortakligi AS published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2022 16:36:05 UTC.