[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[]
Related Funds
[]
English
oda_MaterialEventDisclosureGeneralAbstract|
Material Event Disclosure General
oda_UpdateAnnouncementFlag|
Update Notification Flag
Evet (Yes)
oda_CorrectionAnnouncementFlag|
Correction Notification Flag
Hayır (No)
oda_DateOfThePreviousNotificationAboutTheSameSubject|
Date Of The Previous Notification About The Same Subject
06.03.2015 - 28.12.2022
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|

The Company and the group subsidiary Poliport Kimya San. Ve Tic. Inc. ("Poliport") have signed a Preliminary Sales, Land Share and Revenue Sharing Contract with DOP Yapı Mimarlık İnşaat Gıda Turizm Hizmetleri San. ve Tic. Ltd. Sti. and DAP Yapı İnşaat San. Ve Tic. Inc. (together with "DAP Joint Venture"), which has cancelled the previous contract dated 05.03.2015.


The Company, Poliport, and the DAP Joint Venture will develop the Pendik Project on Poliport's Pendik District Yayalar Zone 10724 Island 2nd Plot, 10723 Island 3rd Plot, and 10723 Island 4th plot; and on Poliport and the Company's jointly-owned Seyhli District Örenler Zone 10722 Island 2nd Plot. With this new contract the parties are contracted to share the total project revenue with a 26.5% Poliport and 73.5% DAP Joint Venture split.


The new contract will result in Poliport and the Company collecting project revenues earlier than provided for by the initial contract. The Pendik Project's launch and start of project sales are targeted for 2023.