ZERAY, which stands out with the qualified projects it has delivered in Kocaeli, Ankara, Sakarya and Bursa regions and launched its newly developed branded housing projects that will make a name for itself, has now applied to the Capital Markets Board (CMB) to transform into a real estate investment trust (REIT). Working with the mission of making everyone in Turkey a homeowner by producing accessible housing projects, ZERAY is going public and meeting with individual investors in order to achieve its goal faster and stronger.

Zeki Zeray, Chairman of the Board of Directors of ZERAY, who will work quickly to become a public offering after the CMB’s decision, summarizes the purpose of the transformation process as follows: “Since our establishment, we have succeeded in becoming one of the biggest housing producers of TURKEY with an extraordinary effort and faith in our people. We have a dream that I have carried in my mind and heart since the first day I founded ZERAY, which has become the common belief of our entire team over time… As ZERAY, we produce 1 million branded houses and bring these houses together with their owners who will be a valuable part of the ZERAY family…

All companies around the world are evolving. In order to reach the future, it is necessary to be more planned and systematic, as well as to meet with mass and international investors. We are organizing an IPO to become a fully corporate and sustainable company that is managed with transparency. At this point, REIT transformation and IPO will be a milestone for us. This transformation of Zeray will also lead the evolution of REITs.

We get our strength from thousands of residents who have bought housing from us and have become our neighbors. We are still growing with their support and references. We have an understanding of mutual trust. After the REIT transformation, we will spread this strong relationship across Turkey.”

Zeki Zeray, who is the sole shareholder of the company and continues his management activities by working with professional teams in his field, believes that the increase in the number of construction and real estate companies under CMB supervision will have a very positive impact on the sector. “We can build Turkey’s safe and healthy housing future with construction companies that have a longer lifespan than us, are permanent, and are managed and audited with a clear corporate culture. ZERAY will be one of these companies, even the leader,” he says.

Many new projects will be in ZERAY REIT portfolio!

A company grows with what it brings to its investors. Especially if you are building a home, you should earn both your investors who support you and your residents with whom you sell housing and establish a permanent relationship. This philosophy is at the center of ZERAY’s activities.

Zeki Zeray explains this understanding as follows: “A construction company is as strong as its projects. ZERAY’s greatest talent is its ability to quickly develop and add extraordinary projects to its portfolio. At this point, with the REIT transformation, we will add many qualified new projects to our portfolio. We will transform the capital generated into new investments with high brand value. We will multiply our company value with the portfolio we expand in the light of reason and science. As ZERAY REIT, while managing this process, we will share our earnings by earning both our investors and our residents to whom we sell housing.”

Branded housing needs a leading actor!

Turkey’s housing production in recent years has been predominantly undertaken by TOKİ and Emlak Konut. The number of qualified developers who produce branded housing and can sell them to foreign investors does not exceed 20. The share of these producers in the sector is only around 1.8 percent. ZERAY has recently sold 1500 qualified houses to foreign investors, becoming one of the leading companies of our country in this regard, while providing a significant amount of foreign currency inflow.

ZERAY is determined to change this ratio and become the leading player in branded housing production with its mass mindset and 1 million housing target with the REIT transformation.

In addition to the real estate sector, it plans to diversify its income by investing in industry, tourism and energy sectors. In addition to housing projects, the company plans to carry out activities in a wide range of areas from offices to educational buildings, health and industrial facilities to infrastructure projects, logistics centers to hospitals.

Having completed more than 50 projects to date, ZERAY will realize its public offering and start trading on Borsa Istanbul following the approval of the REIT conversion application.

Zeki Zeray also states that operating as a public REIT will have different gains: “As you know, it has become difficult to own real estate. However, it is possible for an investor who cannot invest in real estate to invest in real estate by buying real estate investment trust shares. As ZERAY REIT, we aim to fulfill this task as well.

We have tremendous experience and know-how in real estate. With our mass production skills, we are a structure that wins both when buying and selling. We will share this accumulation with our investors.

The REIT transformation process means a capital increase for us, followed by new investments. We will use our income entirely within the company and for investment purposes. We will have new real estate investments. We will also integrate some of our funds into this field to be used in buy-sell-sell sharing projects in return for flats.

We are a company that knows Turkey very well, especially East Marmara and Ankara. We know very well how much investment should be made in which region. Our project development skills are beyond European standards. We are already at a good point as a country in this regard.

Our priority will always be Turkey, our country. On the other hand, we continue our search for investment development in Europe. We continue our negotiations for land purchase and project development in Germany, especially around Frankfurt.

Our greatest desire is to share our savings with our people and to produce for our people with the participation of our people in ZERAY.”