Fuzul REIT

Fuzul Gayrimenkul Yatirim Ortakligi A.S. is a real estate investment trust (REIT) that develops residential and commercial projects, mainly in the Basaksehir area of Istanbul. The company was founded in 1992 as Fuzul Dis Ticaret A.S., entered the construction sector in 2000 and has focused on branded housing projects since 2009. It is headquartered in Basaksehir, and FZLGY shares trade on Borsa Istanbul.

Completed projects include Kent Evila, Kent Ariva, Olimpa Park, Olimpa AVM ve Rezidans, Vadiyaka Basaksehir, Basakcity, Tem Avrasya and the Basaksehir Avrasya residences, the New Inn Otel and the Barbaros project. Ongoing projects include Basaksehir Avrasya Cadde, the third phase of Basaksehir Avrasya and Istanbul Air. In addition to housing sales, the company is diversifying its portfolio with income-generating assets such as a shopping mall and a hotel.

For residential REITs, investors track the pace of sales and pre-sales, mortgage rates, construction costs, the land bank, project delivery schedules and the portfolio value in appraisal reports. A project structure concentrated in a single district makes the supply-demand balance in the area particularly important for FZLGY shares. On Lzzo.com you can review the price history and a comparison with similar REITs.