Emlak Konut's First International Sukuk Issuance Sees Record Demand of $650 Million

Emlak Konut Gayrimenkul Yatirim Ortakligi (GYO) completed its first sukuk issuance in international capital markets as of May 21. The company reached a size of $650 million in this issuance, which has a 5-year maturity and is denominated in US dollars. The issuance attracted strong demand from international qualified institutional investors, particularly from Gulf countries and the United Kingdom. This demand confirmed Emlak Konut's credibility in global markets and its capacity to borrow through sukuk. This step by Emlak Konut is significant as it marks the first entry of a Turkish real estate sector company into the international sukuk market. The issuance is considered part of the company's strategy to diversify its financing sources. This is not investment advice.