Land owned by holding company close to AKP put up for sale via foreclosure

Halk Bankası has been unable to collect a loan it provided to Söğütsen Seramik AŞ. Due to the uncollected loan, the bank initiated foreclosure proceedings against Yıldız Bakır Madencilik AŞ and Eti Gümüş AŞ, which acted as guarantors for the company's credit, as well as the owners of these companies, Cihan, Vahip, and Sebahattin Yıldız.

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Land owned by holding company close to AKP put up for sale via foreclosure

A 13-decare plot of land in İzmir's Çeşme district, belonging to Yıldızlar SSS Holding—a company that drew attention for the tenders it won during the AKP era—has been put up for sale via foreclosure along with the hotel under construction on the property.

HOTEL CONSTRUCTION UNDERWAY ON THE LAND

According to the report in Halktv, following the initiated proceedings, the valuable property in Çeşme, which had a mortgage placed on it, was put up for sale. In the tender conducted by the Çeşme Enforcement Office, a value of 417 million TL was set for the 13-decare land and the hotel under construction on it. In the tender, for which the final bids were received today, the highest bid was 1.2 billion lira.

PRIVATIZATIONS PLAY A MAJOR ROLE IN THE MOMENTUM GAINED

Yıldızlar SSS Holding, chaired by Sebahattin Yıldız, gained significant momentum with the facilities it acquired through privatization. The state-owned Eti Gümüş was the most important facility to pass to Yıldızlar SSS Holding. Yıldızlar, which operated as a ceramic dealership until the 2000s, had also won the privatization tender for Toroslar Elektrik Dağıtım AŞ.