It is a statement made in accordance with Article 37/2 of Communiqué On Principles Of Real Estate Investment Companies of the Capital Markets Board.
By the end of 2020, when we compare the annual appraisal rental income corresponding to the average occupancy on an annual basis, the rental income below the appraisal rental value has been obtained from Kanyon Shopping Center, Ege Perla Shopping Center, Kule Çarşı and Tuzla Meydan Çarşı in our portfolio.
With the measures taken by public authorities within the scope of the coronavirus epidemic, the decreasing number of visitors and decreasing business volume have been effective in obtaining rental income below the appraisal rental values in the said retail assets in our portfolio.
The total rental appraisal fee calculated on the basis of the average occupancy of two shopping centers and two markets for which rental income is obtained below the appraisal lease amount for 2020 is TL 42.8 million, excluding VAT and total rental income at the end of 2020 is TL 31.2 million, excluding VAT. In addition, a rental income below the appraisal rental value was obtained from the stores of our related party Paşabahçe Mağazaları A.Ş in Kanyon Shopping Mall and Ege Perla Shopping Mall and from the branch of our related party Türkiye İş Bankası A.Ş in Kanyon Shopping Mall.
The relevant matter will be put on the agenda of the first general assembly meeting to be held, and shareholders will be informed.