Hacettepe Dormitory and Guest House
The Hacettepe Dormitory and Guest House project, developed by the company on the Beytepe Campus of Hacettepe University, commenced on May 15, 2014. It is designed as a complex project on a 68,000 m² area, featuring a guest house with a capacity of 7,300 beds, commercial areas, and social facilities. The capacity of the Hacettepe Dormitory and Guest House can reach up to 15,000 people depending on the density and occupancy rates. In this project, Hacettepe University has allocated a 49-year right of use to Hacettepe SPV starting from March 15, 2013.
The project began in the second quarter of 2014, and as part of the first phase, approximately 2,300 beds in two blocks were delivered in the first quarter of 2016. As of the date of this Prospectus, the development of the other five buildings in the project, with an approximate capacity of 6,000 beds, is under evaluation.
Regarding the Hacettepe Dormitory and Guest House, there is a lease agreement between KYK (through the Ankara Youth and Sports Provincial Directorate) and Hacettepe SPV. The annual fixed rent payments are determined not to exceed the Domestic Producer Price Index (D-PPI) rate announced each year in the General Circular on the Leasing of Immovables by Public Administrations. According to the contract signed with KYK (through the Ankara Youth and Sports Provincial Directorate), rent payments are independent of the occupancy rate.
