In the meeting of Board of Directors dated 5th September, 2007, it was unanimously decided that:
A 18.392 sqm land in İzmir which is owned by T. İşbank, would be purchased for the amount of 12.000.000 USD, in order to develop a project which is planned to comprise residential units, home office units and shopping center. (The land value is determined by the appraisal firm.)
In addition to this amount; %50 of the net profit (obtained by the sale of residential units and home office units in the project) and %50 of the rental income (in case of renting these residential and home office units) will be paid to T. İşbank by İş GYO.
İş GYO will also put T. İşbank in possession of a gross 400 sqm independent unit in the shopping center for10 years.
%50 of the land value will be paid at the time of the registration of the agreement at the deed office and the remaining amount will be paid at the time of the delivery of the title deed.
