Full profile
Overview of Kiler GYO
Kiler GYO (Kiler Gayrimenkul Yatırım Ortaklığı A.Ş.) is one of the first Real Estate Investment Trusts (REITs) listed in Türkiye, operating under the supervision of the Capital Markets Board of Türkiye (CMB). The company is a member of Kiler Holding – a long-standing multi-industry group with core operations in retail, logistics, and real estate in Türkiye.
Kiler GYO's headquarters is located at Emniyet Evleri Mah., Eski Büyükdere Cad. No:1/1, 7th floor, Kağıthane, Istanbul. The company has an issued share capital of 1.395 billion TRY and an authorised capital limit of 7 billion TRY, publicly listed on Borsa Istanbul.
History
The early years (1994 – 2005)
Kiler Group's construction activities began in 1994, originating from the internal need to develop a network of supermarkets and retail stores. During this period, the company managed projects for 175 stores across Türkiye, with floor areas ranging from 1,000 to 4,000 m² per store.
Initial projects included a 12,100 m² shopping centre in Şirinevler (1997), a 35,000 m² building in Güngören (1998), and a 13,000 m² building in Ateştuğla, Bağcılar (2001). By 2000, all construction activities were consolidated under a single company, the predecessor to the current KLR İnşaat Ticaret Limited Şirketi.
Transition to REIT (2005 – 2008)
The company was established under the name “Kiler İnşaat Sanayi ve Ticaret A.Ş.” and registered with the Istanbul Trade Registry on 01/09/2005. Subsequently, the company name was changed to “Biskon İnşaat A.Ş.” in 2006 and later to “Biskon Yapı A.Ş.”.
Following the decision No. 4/174 dated 08/02/2008 of the Capital Markets Board of Türkiye (CMB), the company officially converted into a Real Estate Investment Trust (REIT) under its current name Kiler Gayrimenkul Yatırım Ortaklığı A.Ş. — marking a significant turning point in the company's history.
Core Business Areas
Residential Real Estate Development
Kiler GYO develops high-end apartment complexes for various income groups in Istanbul and major cities across Türkiye. The residential project portfolio includes large-scale urban developments such as Referans Kartal Towers, Referans Bahçeşehir, and Referans Kartal Kordonboyu.
Commercial Real Estate Development
In addition to residential projects, Kiler GYO develops shopping centres, offices, and logistics zones. The Kiler Logistics Centre – operational since July 2005 – provides logistics and storage services across an area of 83,560 m².
Commercial Property Leasing
A significant portion of Kiler GYO's investment portfolio consists of long-term leased properties, generating stable cash flow for the trust. The company has decades of experience in understanding the needs of retailers for commercial space – knowledge accumulated from Kiler Group's own internal supermarket construction operations.
Selected Projects
Istanbul Sapphire
Istanbul Sapphire is Kiler GYO's most iconic project. Commenced in 2006, the structure has a built area of 165,139 m² and a height of 261 metres – it was the tallest building in Türkiye and Western Europe at the time of completion. The project includes luxury residences and the Sapphire Mall, representing the ambition and technical capability of the Turkish construction industry.
Referans Kartal Towers
Completed and delivered in 2020, Referans Kartal Towers is located in the Kartal district – a rapidly developing area on the Asian side of Istanbul. In 2016, Kiler GYO acquired 99% of the project land and 99% of the total area of 457 independent units from İller Bankası A.Ş.
Referans Kartal Kordonboyu
Also delivered in 2020, the project is located on the coast of the Sea of Marmara in Kartal, combining luxury apartments with sea views – an attractive investment segment due to value appreciation driven by the city's coastal planning.
Referans Bahçeşehir
The project was added to the portfolio through a “Revenue Sharing for Land Sale” model via a tender with Kiptaş. Bahçeşehir is a new urban area in Western Istanbul, modernly planned with a full range of amenities.
Referans Panorada
Added to the portfolio in 2015 through a land-use rights transfer and construction agreement – this is one of the typical deals for the flexible partnership model that Kiler GYO applies to expand its land bank.
Referans Beylikdüzü
A series of projects in Beylikdüzü, a district in Western Istanbul with a high rate of urbanisation, were expanded by Kiler GYO through various agreements with neighbouring landowners during the 2015-2016 period.
Hikmet Kiler Science High School
Besides commercial projects, Kiler GYO also has a footprint in the public utility sector. The Hikmet Kiler Science High School was commenced in July 2007 and put into use in August 2008, built on an area of 15,000 m² with two educational buildings and a dormitory.
Position in the Turkish REIT Industry
Kiler GYO is one of the longest-standing REITs in Türkiye, established just 3 years after the Turkish REIT law was enacted. As a publicly traded company, Kiler GYO complies with strict regulations from the Capital Markets Board of Türkiye regarding:
- Financial information transparency
- Minimum real estate portfolio size
- Dividend distribution to shareholders
- Independent board structure
For international investors interested in the Turkish citizenship by investment programme, working with a listed REIT developer like Kiler GYO provides an additional layer of legal protection compared to non-listed private developers.
Operating Philosophy
Kiler GYO's business philosophy is encapsulated in its brand slogan: “Kiler GYO 1984 yılından beri, mutlu hayatlar tasarlar!” — Kiler GYO has been designing happy lives since 1984.
The company places people at the centre with its “New Generation Living Spaces” approach — combining:
- High investment value
- Technological equipment
- Aesthetic architecture
- Convenient and high-quality operational standards
Contact
- Head Office: Emniyet Evleri Mah., Eski Büyükdere Cad. No:1/1 Kat:7, 34415 Kağıthane, Istanbul, Türkiye
- Telephone: +90 212 456 70 00 / +90 212 690 00 00
- Email: [email protected]
- Website: kilergyo.com
- Ticker: KLGYO (Borsa Istanbul)
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