Sur Yapı - Urban Transformation

2.5.2019

The questions that we are often asked with regards to our urban transformation projects are as follows;

1. Other companies which are also developing urban transformation projects visit our neighbourhood and give an offer. Why should we work with Sur Yapı?

- As in the development of residence, office and shopping center projects, Sur Yapı is one of the top companies committed to urban transformation. We to urban transformation with the sensitivity of social responsibility in order to raise the security standards as well as the life standards.  In this scope, as Sur Yapı, we are among the leading companies in the private sector, shouldering responsibility for urban transformation. In all our urban transformation projects, we act with the 5 Basic Principles. As Sur Yapı, "tobe reliable, to add value, to be fair, to be transparent and to set a sample" constitute our guiding principles in urban transformation. 

2. I have read your contract and consulted lawyers. All said that there was no problem with the contract. But, in a non-specific deadline process, why should I conclude a contract with Sur Yapı?

- As Sur Yapı, in the urban transformation zones that we operate, we differ in terms of the right model,the right team and the right contract by identifying expectations at the beginning of the process. If one of these three principles is missing, it is not possible to retain the project. Often, the most valuable thing of the land-owners is the real estate that they have in hand. Therefore, they find it difficult to decide or even if they are decided, often, they prefer to wait the end of the urban transformation project. However, this situation emerges as one of the most important factors in pushing off the realization of the project. Everyone in urban transformation zone, loses time while waiting another one and both sides lose. Hence, as long as the urban transformation contract is signed, the project is brought to life faster.

3. When will your urban transformation project come to life?  How can I help you in order to accelerate this process?

- In the urban transformation zones where we are operating, we are often asked this question? As Sur Yapı, we start to work ready to build the project in all of our urban transformation zones. Before project, for several months, we analyse the expectations of the land-owners and feasibility studies. With a great compromise, we create the contract along with the land-owners and we define the project at the most beginning of the project. Thus, as Sur Yapı, we become ready to start the project when we begin to take the first signatures. At this point, the process will be defined by the completion time of the agreements with land-owners. Even if the 100% of consensus is not achieved, after that the project zone reaches a certain size, we implement our urban transformation project.

4. I live in a more prestigious flat with a better view compared to the house of my neighbor. How will you pay regard to this difference in the residences that you will give to us?

- After that the contracts will be concluded, by means of FMB (free market board) licensed institutions, we perform the special assessment of the existing flats or lands of the land-owners. After creating our urban transformation project, we perform the special assessment also for this new flat and we pay attention to ensure balance and equity between the first and last states. We also include this matter in our contract. We submit the final sharing plan prepared by the independent FMB (free market board) licensed institutions to the approval of the landowners and we conclude the sharing protocol. In this regard, as Sur Yapı, we rely on our contracts and we don't see any harm on its examination by anyone.

5. We assign to you, a portion of our lands according to our agreement rate. As Sur Yapı, what kind of guarantee do you give us concerning this issue? 

- According to the sharing rate and on behalf of landowners, we put the land shares to be transferred in current valued construction caution mortgage. Thus, the landowners transfer their lands to us in the scope of urban transformation so long as to be burdened with mortgage and we request the land-owners to release the mortgages based on the construction progress. As the urban transformation works develop at a certain pace, as Sur Yapı, we consider very precious that the land-owners continue their life in complacency after the signature of the contract. 

6. At the moment, I am living in a flat larger than the flat offered by you. Why should I accept your offer?

- In urban transformation, the size and the numbers of the flats to be given to the land-owners, are determined by the rate granted depending on the market conditions and the construction conditions of the land. At this point, the land-owners need to compare the current value before the urban transformation project and the value that they will possess at the end of the project. The importance of the right company, right value and the reliability,emerge at this point.

7. We received many offers before from the other companies developing urban transformation projects indicating that they can increase our current  development rights. As Sur Yapı, what can you do with regards to this issue? 

- As Sur Yapı, our first priority is to protect the land-owners’ rights and to produce the maximum saleable area and the maximum value within the framework of the current zoning conditions. In this regard, we provide all possible support to the landowners. And, we recommend the landowners to think first of all multilaterally, regardless to whom they deliver their lands. We advise them not only to consider the sharing rates and to be selective by investigating the company and to hit the road with the companies that they trust. At this point, the experience, trust, transparency and being solution-oriented are very important.

8. If there will be an increase in our current development rights after the signature of the contract, can we also benefit from this increase?

- In this matter, we have some previous experience. In all of our contracts, we mention that, according to the sharing rate, we will share any eventual increase with the land-owners about construction due to the regulations or other reasons.

9. Do you consider separately the flats that you will deliver to the land-owners and the flats that you will take for your company? Are there any differences in terms of construction quality?

- None of the residences we construct within the scope of urban transformation can be considered separately and the flat owned by the customer and the flat that we reserve for our company have the same quality.  In any case, the customers receive their flats under the guarantee and the brand name of SurYapı. For this reason, we construct the flats falling into our share and the land-owners’ flats with the same quality within the scope of the urban transformation.  We also guarantee this by means of contractual terms. 

10. The share is effectuated over the gross area. What do you mean by gross area?

- All of our urban transformation projects that we construct under the brand name of Sur Yapı, are carried out in conformity with the related laws and regulations.  Accordingly, while conducting our urban transformation project, the definition of the gross area is defined depending on the framework drawn by the regulations. In the urban transformation projects of Sur Yapı, the sharing is effectuated over fully saleable area. In this scope, we keep the parking and social areas out of the sharing plan.