Back in June 2006, İş REIT signed a preliminary right of construction agreement with CURA/GGP Real Estate Development Group for converting Tatilya theme Park and the adjacent lands to a shopping mall.
In the meeting of board of directors dated February 5th 2007, it was decided that; CURA/GGP will pay 13 million USD + VAT to İş REIT in return for the "right of construction" (promised to be independent and continuous) of those lands. Payment will be in two installments and the first installment 6.5 million USD + VAT will be paid when the promise of giving the right of construction is established to register office.
