Land sale from Emlak Konut, overseen by Murat Kurum, to Erdoğan's nephew: Only five million down payment

An announcement made on the Public Disclosure Platform (KAP) on April 24, 2025, revealed a real estate sale that has drawn public attention. According to a report by veteran journalist Çiğdem Toker, Emlak Konut GYO has decided to sell a plot of land located within the borders of the Arnavutköy district of Istanbul to Altay Yenilenebilir Enerji Üretim ve Depolama A.Ş., a subsidiary of 1000 Yatırımlar Holding, where Üsame Erdoğan, the nephew of President Recep Tayyip Erdoğan, serves as chairman of the board.

5 MILLION DOWN PAYMENT FOR 507.5 MILLION WORTH OF LAND

According to the KAP statement, under the preliminary sales contract signed between Emlak Konut GYO and Altay Yenilenebilir Enerji, a down payment of 5 million TL was paid for the real estate valued at 507 million 483 thousand 650 TL. The remaining amount will be paid in 59 monthly installments, meaning approximately 8.5 million TL per month over five years. The land delivery will take place within 48 months from the date of the contract. The title deed transfer will be carried out after this delivery date.

According to the contract, the title deed procedures for the land will be completed based on the delivery date. Thus, Altay Yenilenebilir Enerji will have taken over the title deed after a maximum of four years. However, the payment process will continue until 2030. The land was purchased for investment purposes, but no information regarding its surface area was included in the KAP announcement. It was stated that developments regarding the process would be announced to the public via KAP.

CHAIRMAN OF THE BOARD ÜSAME ERDOĞAN

Emlak Konut GYO, a publicly traded company, operates as a subsidiary of TOKİ, which is under the Ministry of Environment, Urbanization and Climate Change. The purchasing company, Altay Yenilenebilir Enerji, is part of 1000 Yatırımlar Holding, which operates in the fields of energy, transportation, software, and finance.

The chairman of the holding's board is Üsame Erdoğan. Other board members include Hüseyin Ardan Küçük, Mustafa Saim Birpınar, Harij Pojata, Kadir Can Abdik, Emine Canpolat, Eyüp Şişman, and Osman Dinçbaş. Board member Mustafa Saim Birpınar is the son of Prof. Mehmet Emin Birpınar, who previously served as undersecretary and deputy minister at the Ministry of Environment and Urbanization.

1000 Yatırımlar Holding also owns various brands operating in the fields of mobility and energy. Brands under the holding's umbrella include the electric scooter service Binbin, the digital transportation service Taksim, and the energy solutions provider Charge.

While this transaction announced on KAP has drawn public attention, the fact that a public subsidiary company sold land to a private company with ties to the political world under highly advantageous conditions has raised questions.

News Source: 12punto