The fair, which is expected to bring together 18,000 participants from 80 countries along with 3,500 investors in Cannes, France, will also be attended by 47 firms, institutions and municipalities from Turkey. Emlak Konut GYO General Manager Murat Kurum, speaking to the Anatolia news agency yesterday, said MIPIM is an important opportunity for the promotion of their projects in a bid to attract more FDI.
Emlak Konut, which registered a profit of TL 340 million last year, is planning to launch an initial public offering (IPO) this year. Kurum said they expect to put at least 25 percent of the firm’s shares up for sale during the IPO and added: “We expect 25 to 30 percent of these stakes to be acquired by domestic investors and the rest by foreign interests. This is why we are paying special attention to promoting our projects at MIPIM.”
Kurum, underlining that with its paid-in capital of TL 253 million and net assets of TL 4 billion Emlak Konut is the country’s biggest real estate investment partnership, predicted that the planned IPO might make the company one of the top 10 real estate investment companies in the world. Emlak Konut could even make its way to even to top five, he said, if it manages to sell its shares at a price higher than their nominal value. The İstanbul Metropolitan Municipality will also promote its projects at the fair.
