Kiler Family acquired wide experience on the key subjects such as determining the correct locations throughout Turkey, acquiring lands and properties, renting and projecting stores, making their decoration works and managing the license transactions during the development of the network of stores and opening them for services as one of the most important factors of the retail business in particular in the construction activities which it stated with the real estate development and the management of the construction works which are needed by the group companies. With the establishment of Biskon Yapi, the construction activities went beyond covering the in-group needs and exceeded it far beyond and converted into professional construction activities.

Kiler has completed the rough, detailed, electric, mechanic, heating, lighting, decoration and substructure works of 150.000 square meters of construction area of more than 170 stores throughout Turkey completely until today and made the stores ready for service.

Kiler acquired an important experience on the subject of the characteristics and needs which are sought in the rental commercial real estate by the retailers with the experience acquired from the constructions and modifications of the Kiler Group supermarket stores and it started the bazaar and shopping center investments with this experience.

Beside that, it has developed the residence projects addressing to different income groups in different locations as well. It has completed the Istanbul Sapphire Residence and shopping center construction which is the tallest (261 m), most pretentious and most distinguished project of Turkey and Western Europe accommodating a lot of “firsts” and “mosts” on the area of architecture and engineering and representing the highest point reached on the area of real estate investment and development and thus proven its success on the area of real estate development in this manner as well.

The beginning of the real estate and construction works dates back to the year 1994 and developed as follows.

• In the year 1994, the store refurbishment works started to be performed throughout Istanbul. The project management of 175 stores with the sizes varying between 1.000 - 4.000 m² throughout Turkey has been realized until today.
• In the year 1997, the store and business center construction having total construction area of 12.100 m² has been completed in Şirinevler.
• In the year 1997, the residence building having total construction area of 2.000 m² is constructed in Avcılar.
• In the year 1998, the first building construction is performed in Güngören. The structure having construction area of 35.000 m² on the land of 7.000 m² is constructed as the depot, store, management offices and school building.
• In August of the year 2001, the building with 13.000 m² is constructed on the land of 7.500 m² in Bağcılar Ateştuğla.
• In the year 2001, the residence construction with 30 flats is made in Beylikdüzü region.
• In the year 2002, the store with the total size of 5.000 m² is constructed on the land of 6.000 m² in Başakşehir.
• In the year 2002, the residence area which is composed of 2 blocks and 4 flats and having construction area of 5.500 m² is constructed in Florya.
• In the year 2004, Kardelen Evler Sitesi (housing estate) which is composed of 2 blocks and the business center of 9.000 m² are taken into service as the construction area of 31.000 m² on the land of 7.000 m² in total.
• Kiler Logistics Center, the construction of which is started in July of the year 2005, is taken into service operationally in the end of the 3 years period of time. It provides logistics and storage services in an area of 83.560 m².
• Istanbul Sapphire, which is one of the most prestigious real estate projects of Turkey the construction of which is started in the year 2006, has a construction area of 165.139 m² and, with its 261 meters height; it is the highest building of Turkey and Western Europe.
• Hikmet Kiler Science High School, the foundations of which are laid in July of the year 2007, is opened in August of the year 2008. It is constructed on 15.000 m² area. It is composed of two buildings which are composed of education building and boarding building.
• Çınar Evler Sitesi (housing estate), the construction of which is started in the year 2008, is composed of 9 and 10-floor 5 blocks. There is a construction area of 40,000 m² in Çınar Evler which is established on total area of 11.000 m².

Although the construction activities of Kiler Group started in the year 1994, these activities had been carried out in the structure of the retail company until the year 2000, and then the construction activities are collected in the structure of a single company with the current title of KLR İnşaat Ticaret Limited Şirketi (“KLR İnşaat”). The Company which forms the beginning of the Real Estate Investment Trust is established with the title of ,“Kiler İnşaat Sanayi ve Ticaret A.Ş.”, and it is registered before Istanbul Trade Registry office with the registration number 563609-51191 on the date 01.09.2005 and this registration is announced in Turkey Trade Registry Gazette dated 06.09.2005 and numbered 6383. After that, the Company title is changed firstly to “Biskon İnşaat A.Ş.” in the year 2006 and then to “Biskon Yapı A.Ş.”. The company is converted into an real estate investment trust in accordance with the decision dated 08.02.2008 and numbered 4/174 of Capital Market Law and its title is changed to “Kiler Gayrimenkul Yatırım Ortaklığı A.Ş.”.

The registered capital ceiling of the company is 1.400.000.000 TL and its issued capital is 70.000.000 TL.

The activity subject of the company is stated in the 5th article titled “Object and Activity Subject of the Company” of the articles of incorporation of the company, and it is stated as follows.

The company is a joint stock company with a registered capital that operates to achieve the objectives and to involve in matters stipulated in the regulations of the Capital Markets Board regarding Real Estate Investment Trusts and to invest primarily in real estate, instruments based on real estates and rights.