It was stated, in short, in our announcement made on February 5th, 2021 that at the meeting held by Kartal Municipality Council on 04.02.2021, the 1/1000 scaled Implementary Development Plans for the sub-areas of the land including the immovable owned by Eczacıbaşı Holding A.Ş. (*) in Kartal district of Istanbul province were approved and that the necessary procedures to be carried out by Istanbul Metropolitan Municipality and Kartal Municipality should be completed in order for the development plans to be approved and finalized within the scope of the said decision; it was stated in our announcement made on March 17th, 2022 that at the meeting of Istanbul Metropolitan Municipality (IBB) Council, the report of IBB Development and Public Works Committee was approved; and it was stated in our announcement made on July 7th, 2022 that 1/1000 scaled implementary development plans were put up for public display for 30 days by Kartal Municipality.

 

Furthermore, it was stated in our announcement made on 10.11.2022 that the development plans were removed from public display as of August 5th, 2022 and that the development commission report regarding the objections to the Implementary Development Plan was discussed at the meeting of Kartal Municipality for the month November held on 10.11.2022 and that the objections were rejected and that it will be waited for Kartal Municipality ("Municipality") to initiate article 18 Development Implementation of the Development Law No. 3194., that the parceling plan to be prepared by the Municipality should be put up for public display for 1 month and possible objections should be resolved in order to complete the process of making the parcels where the aforesaid immovable is located suitable for construction (finalization of the parceling plan) according to the parceling plan to be prepared as a result of the land and plot arrangement works to be carried out in accordance with article 18 of the Development Law; and that the final title deeds can be obtained after the finalization of the parceling plan, approval by the cadastral directorate and registration by the land registry office and that a public announcement will be made when the parceling plan is finalized.

In our statement dated 22.12.2023, it was stated that the immovable in question is located in two separate sub-zones, S6 and S7, the suspension period of the parceling plan prepared by the Municipality for the S6 Sub-zone expired on 21.12.2023 and the parceling plan was finalized with the decision of the Municipality Council dated 22.12.2023, the suspension period of the parceling plan prepared by the Municipality for the S7 Sub-zone will end on 04.01.2024, and a separate announcement will be made to the public when the parceling plan is finalized.

In our statement dated 05.01.2024 it was stated that the public display period of the parceling plan prepared by the Municipality for the S7 Sub-Zone has expired on 04.01.2024, and it was also indicated that there was no objection within this period, according to the information received from the Municipality.

As for the S7 Sub-zone, according to the information obtained from the Municipality, the parceling plan prepared by the Municipality under Article 18 of the Development Law No. 3194 has been submitted to İstanbul Cadastre Directorate on January 19, 2024, for control and registration purposes, as it was stated no objections were made during display period. In this context, the parceling plan for S7 Sun-zone has been finalized.

(*) The land in Kartal district, Istanbul province is not owned by our Company, but instead by Eczacıbaşı Holding A.Ş., our parent company. Our Company holds a stake of %37.28

in the capital of Eczacıbaşı Holding A.Ş., whereas Eczacıbaşı Yatırım Holding Ortaklığı A.Ş. holds %11.54.