Demirören, who failed to repay the loan from Ziraat Bank, transfers some buildings

Demirören Holding has transferred some buildings as payment for this year's installments of the loans it took from a state bank and has not repaid for 6 years.

According to a report by Dünya Gazetesi, Demirören Holding, which took out an 895 million dollar loan from Ziraat Bank for Hürriyet, Kanal D, CNN Türk, and many other media channels and newspapers purchased from Doğan Holding for 916 million dollars in 2018, has transferred numerous real estate properties and assets belonging to the media group to Ziraat Bank for the 70 million dollar installments due this year.

Demirören Holding, which purchased numerous newspapers and television channels belonging to Doğan Holding in 2018, had covered almost the entire cost of this acquisition with a loan it obtained from Ziraat Bank.

While Demirören Holding, which is stated to have made no payments to Ziraat Bank in the 6 years that have passed, has caused public debate, it had claimed last year that "the installments were being paid as agreed."

The group of companies, which sold the Demirören Mall on İstiklal Street to Denizbank for its annual 70 million dollar installment payments, had also announced that it sold its 61.5-acre printing facility plot in Esenyurt to the unmanned aerial vehicle manufacturer Baykar for 816.6 million liras.

Finally, Demirören Holding sold some of the real estate within Hürriyet Gazetecilik ve Matbaacılık to the bank for 1 billion 287 million 922 thousand TL to cover a portion of this year's 70 million dollar payment on its loan debt to Ziraat Bank. The statement made by the company is as follows:

"It has been decided by our Company's Board of Directors to sell and transfer the real estate registered in İzmir Province, Gaziemir District, Atıfbey Neighborhood, Block 11408 and Parcel 1; the real estate registered in İzmir Province, Konak District, Umurbey Neighborhood, Block 1447 and Parcel 10; the real estate registered in Antalya Province, Muratpaşa District, Yenigöl Neighborhood, Block 12558 and Parcel 4; and the real estate registered in Trabzon Province, Arsin District, Nuroğlu Neighborhood, Block 1149 and Parcel 12, which are in our Company's portfolio, to Türkiye Cumhuriyeti Ziraat Bankası Anonim Şirketi for a total price of 1,287,922,000.00 TL (One billion two hundred eighty-seven million nine hundred twenty-two thousand Turkish Liras), and the sale and transfer process was completed as of 22.05.2024 (today)."