{"id":2269,"date":"2026-05-02T10:57:36","date_gmt":"2026-05-02T07:57:36","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2269"},"modified":"2026-05-02T10:58:03","modified_gmt":"2026-05-02T07:58:03","slug":"egegy-2026-03-faaliyet-raporu-analizi-egeyap-avrupa-gayrimenkul-yatrm-ortakl","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2269","title":{"rendered":"\ud83d\udd35 EGEGY 2026-03 Faaliyet Raporu Analizi | Egeyap\u0131 Avrupa Gayrimenkul Yat\u0131r\u0131m Ortakl\u0131\u011f\u0131"},"content":{"rendered":"
Egeyap\u0131 Avrupa Gayrimenkul Yat\u0131r\u0131m Ortakl\u0131\u011f\u0131 A.\u015e. (EGEGY) \u00c7al\u0131\u015fma K\u0131lavuzu<\/h1>\n
Bu \u00e7al\u0131\u015fma k\u0131lavuzu, Egeyap\u0131 Avrupa Gayrimenkul Yat\u0131r\u0131m Ortakl\u0131\u011f\u0131 A.\u015e.’nin (EGEGY) 1 Ocak \u2013 31 Mart 2026 d\u00f6nemine ait faaliyet raporunu temel alarak haz\u0131rlanm\u0131\u015ft\u0131r. K\u0131lavuz, \u015firketin kurumsal yap\u0131s\u0131, y\u00f6netim stratejileri, gayrimenkul portf\u00f6y\u00fc ve finansal performans\u0131n\u0131 anlamaya y\u00f6nelik kapsaml\u0131 bir inceleme sunar.<\/p>\n
\u015eirketin tamamlanan projeleri aras\u0131nda yer alan ve Mart 2026 itibar\u0131yla teslim edilen \u00f6nemli proje hangisidir?<\/b><\/li>\n
EGEGY hissesinin 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011findeki performans verileri (en d\u00fc\u015f\u00fck, en y\u00fcksek ve kapan\u0131\u015f fiyat\u0131) nelerdir?<\/b><\/li>\n<\/ol>\n
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B\u00f6l\u00fcm 2: Cevap Anahtar\u0131<\/h2>\n\n
Egeyap\u0131 Avrupa, 2015 y\u0131l\u0131nda bir in\u015faat taahh\u00fct \u015firketi olarak kurulmu\u015f; 2023 sonunda al\u0131nan izinlerle 17 Ocak 2024 tarihinde tescil edilerek GYO stat\u00fcs\u00fcne d\u00f6n\u00fc\u015fm\u00fc\u015ft\u00fcr. \u015eirket paylar\u0131 14 Ocak 2025 tarihinden itibaren Borsa \u0130stanbul Ana Pazar’da i\u015flem g\u00f6rmeye ba\u015flam\u0131\u015ft\u0131r.<\/li>\n
\u015eirket; gayrimenkullere, gayrimenkul projelerine, haklar\u0131na ve sermaye piyasas\u0131 ara\u00e7lar\u0131na yat\u0131r\u0131m yaparak bu portf\u00f6y\u00fc i\u015fleten halka a\u00e7\u0131k bir sermaye piyasas\u0131 kurumudur. Temel amac\u0131, mevzuat\u0131n izin verdi\u011fi varl\u0131k ve haklardan olu\u015fan bir portf\u00f6y\u00fc y\u00f6netmektir.<\/li>\n
\u015eirketin 200 milyon TL olan \u00e7\u0131kar\u0131lm\u0131\u015f sermayesi A ve B grubu paylardan olu\u015fur. A grubu nama yaz\u0131l\u0131 paylar, y\u00f6netim kurulu \u00fcyelerinin tamam\u0131n\u0131n se\u00e7iminde aday g\u00f6sterme imtiyaz\u0131na sahipken, B grubu paylar\u0131n b\u00f6yle bir imtiyaz\u0131 yoktur.<\/li>\n
\u015eirket Y\u00f6netim Kurulu 5 \u00fcyeden olu\u015fur ve bu \u00fcyeler 17 Nisan 2026 tarihli Ola\u011fan Genel Kurul toplant\u0131s\u0131nda 3 y\u0131l s\u00fcreyle g\u00f6rev yapmak \u00fczere se\u00e7ilmi\u015flerdir. Kurulda Hasan \u0130nan\u00e7 Kabaday\u0131 ba\u015fkanl\u0131k, Didem \u015eeng\u00fcl ise ba\u015fkan vekilli\u011fi ve genel m\u00fcd\u00fcrl\u00fck g\u00f6revini y\u00fcr\u00fctmektedir.<\/li>\n
\u015eirkette ayr\u0131ca bir “Aday G\u00f6sterme Komitesi” ve “\u00dccret Komitesi” kurulmad\u0131\u011f\u0131 i\u00e7in, bu komitelerin t\u00fcm g\u00f6rev ve sorumluluklar\u0131 Kurumsal Y\u00f6netim Komitesi taraf\u0131ndan yerine getirilmektedir. Bu kapsamda \u00fcst d\u00fczey y\u00f6netici adaylar\u0131n\u0131n saptanmas\u0131 ve \u00fccretlendirme esaslar\u0131n\u0131n belirlenmesi s\u00fcre\u00e7lerini y\u00f6netir.<\/li>\n
Denetim Komitesi, kamuya a\u00e7\u0131klanacak y\u0131ll\u0131k ve ara d\u00f6nem finansal tablolar\u0131n muhasebe ilkelerine uygunlu\u011funu ve do\u011frulu\u011funu incelemekle y\u00fck\u00fcml\u00fcd\u00fcr. Sorumlu y\u00f6neticilerin ve ba\u011f\u0131ms\u0131z denet\u00e7ilerin g\u00f6r\u00fc\u015flerini alarak kendi de\u011ferlendirmelerini Y\u00f6netim Kurulu’na yaz\u0131l\u0131 olarak bildirir.<\/li>\n
\u015eirketin riskleri Operasyonel Risk, Piyasa Riski, Kredi Riski, Likidite Riski ve yasal s\u0131n\u0131rlara uyumu i\u00e7eren Uyum Riski olmak \u00fczere 5 kategoride s\u0131n\u0131fland\u0131r\u0131lmaktad\u0131r. Bu risklerin her biri i\u00e7in \u00f6zel \u00f6l\u00e7\u00fcm ve izleme y\u00f6ntemleri uygulanmaktad\u0131r.<\/li>\n
Genel giderler ve vergiler d\u00fc\u015f\u00fcld\u00fckten sonra kalan d\u00f6nem k\u00e2r\u0131ndan \u00f6nce %5 kanuni yedek ak\u00e7e ayr\u0131l\u0131r. Kalan tutara y\u0131l i\u00e7indeki ba\u011f\u0131\u015flar eklenerek bulunan mebla\u011f \u00fczerinden T\u00fcrk Ticaret Kanunu ve SPK mevzuat\u0131na uygun olarak birinci temett\u00fc belirlenir.<\/li>\n
Kordon \u0130stanbul ve \u00c7aml\u0131yaka Konaklar\u0131’ndaki ba\u011f\u0131ms\u0131z b\u00f6l\u00fcmler tamamlanan projeler aras\u0131nda yer almaktad\u0131r. Ayr\u0131ca, Cer \u0130stanbul Projesi 31 Mart 2026 tarihi itibar\u0131yla t\u00fcm bloklar\u0131 ile teslim edilmi\u015ftir.<\/li>\n
EGEGY hissesi raporlama d\u00f6neminde en d\u00fc\u015f\u00fck 24,78 TL, en y\u00fcksek 35,48 TL seviyelerini g\u00f6rm\u00fc\u015f ve d\u00f6nemi 29,34 TL fiyattan kapatm\u0131\u015ft\u0131r. Hisse, bu d\u00f6nem i\u00e7erisinde %11,47 oran\u0131nda bir de\u011fer art\u0131\u015f\u0131 kaydetmi\u015ftir.<\/li>\n<\/ol>\n
A\u015fa\u011f\u0131daki konular\u0131 kaynak metindeki veriler do\u011frultusunda analiz ederek tart\u0131\u015f\u0131n\u0131z.<\/p>\n
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Kurumsal Y\u00f6netim ve Ba\u011f\u0131ms\u0131zl\u0131k:<\/b> \u015eirketin ba\u011f\u0131ms\u0131z y\u00f6netim kurulu \u00fcyelerinin (G\u00fclcemal \u00c7aml\u0131bel ve Selahattin Okan) \u00f6zge\u00e7mi\u015flerini ve ba\u011f\u0131ms\u0131zl\u0131k beyanlar\u0131n\u0131 inceleyerek, bu \u00fcyelerin \u015firketin karar alma s\u00fcre\u00e7lerine ve etik standartlar\u0131na katk\u0131s\u0131n\u0131 de\u011ferlendiriniz.<\/li>\n
Risk Y\u00f6netimi ve \u0130\u00e7 Kontrol:<\/b> \u015eirketin varl\u0131\u011f\u0131n\u0131 tehlikeye d\u00fc\u015f\u00fcrebilecek risklerin erken saptanmas\u0131 i\u00e7in olu\u015fturulan sistemleri ve Denetim Komitesi ile Riskin Erken Saptanmas\u0131 Komitesi aras\u0131ndaki i\u015f birli\u011fini a\u00e7\u0131klay\u0131n\u0131z.<\/li>\n
Proje Portf\u00f6y\u00fc ve \u00c7e\u015fitlilik:<\/b> Egeyap\u0131 GYO’nun mevcut gayrimenkul portf\u00f6y\u00fcn\u00fc (tamamlanan projeler, devam eden yat\u0131r\u0131mlar ve arsalar) co\u011frafi da\u011f\u0131l\u0131m ve kullan\u0131m amac\u0131 (stok vs. yat\u0131r\u0131m ama\u00e7l\u0131) bak\u0131m\u0131ndan analiz ediniz.<\/li>\n
Finansal Durum Analizi:<\/b> 31 Mart 2026 itibar\u0131yla \u015firketin d\u00f6nen ve duran varl\u0131klar\u0131ndaki de\u011fi\u015fimleri, toplam \u00f6zkaynak seviyesini ve d\u00f6nemin net k\u00e2r\u0131n\u0131 g\u00f6z \u00f6n\u00fcnde bulundurarak \u015firketin finansal sa\u011fl\u0131\u011f\u0131n\u0131 yorumlay\u0131n\u0131z.<\/li>\n
\u015eeffafl\u0131k ve Bilgilendirme Politikas\u0131:<\/b> \u015eirketin kamuya a\u00e7\u0131klama yapma prensiplerini ve yat\u0131r\u0131mc\u0131 ili\u015fkileri biriminin bu s\u00fcre\u00e7teki rol\u00fcn\u00fc, ilgili mevzuat ve tebli\u011fler \u00e7er\u00e7evesinde tart\u0131\u015f\u0131n\u0131z.<\/li>\n<\/ol>\n
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B\u00f6l\u00fcm 4: Temel Terimler S\u00f6zl\u00fc\u011f\u00fc<\/h2>\n
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GYO (Gayrimenkul Yat\u0131r\u0131m Ortakl\u0131\u011f\u0131):<\/b> Gayrimenkullere ve gayrimenkule dayal\u0131 projelere yat\u0131r\u0131m yapmak \u00fczere kurulan, halka a\u00e7\u0131k anonim ortakl\u0131k niteli\u011findeki sermaye piyasas\u0131 kurumu.<\/li>\n
Kay\u0131tl\u0131 Sermaye Tavan\u0131:<\/b> Bir anonim ortakl\u0131\u011f\u0131n, esas s\u00f6zle\u015fmesinde belirtilen ve Y\u00f6netim Kurulu’na sermaye art\u0131r\u0131m\u0131 i\u00e7in yetki verilen en y\u00fcksek s\u0131n\u0131r (EGEGY i\u00e7in 750.000.000 TL).<\/li>\n
\u0130mtiyazl\u0131 Pay:<\/b> Di\u011fer paylara g\u00f6re k\u00e2r pay\u0131 veya y\u00f6netimde s\u00f6z hakk\u0131 gibi konularda sahiplerine \u00f6ncelik tan\u0131yan pay grubu (EGEGY’de A grubu paylar aday g\u00f6sterme imtiyaz\u0131na sahiptir).<\/li>\n
Portf\u00f6y De\u011ferlemesi:<\/b> \u015eirketin sahip oldu\u011fu gayrimenkul ve varl\u0131klar\u0131n piyasa de\u011ferinin ba\u011f\u0131ms\u0131z de\u011ferleme kurulu\u015flar\u0131 taraf\u0131ndan tespit edilmesi i\u015flemi.<\/li>\n
\u0130\u00e7 Kontrol Sistemi:<\/b> \u015eirket faaliyetlerinin verimli, mevzuata uygun ve g\u00fcvenilir bir \u015fekilde y\u00fcr\u00fct\u00fclmesini sa\u011flamak amac\u0131yla olu\u015fturulan denetim mekanizmas\u0131.<\/li>\n
Has\u0131lat Payla\u015f\u0131m\u0131:<\/b> Arsa sahibi ve geli\u015ftirici aras\u0131nda, projenin sat\u0131\u015f\u0131ndan elde edilen gelirin \u00f6nceden belirlenmi\u015f oranlarda b\u00f6l\u00fc\u015f\u00fclmesi esas\u0131na dayanan i\u015f modeli.<\/li>\n
Kat Kar\u015f\u0131l\u0131\u011f\u0131 \u0130n\u015faat:<\/b> Arsa sahibinin arsas\u0131n\u0131 in\u015faat \u015firketine devretmesi kar\u015f\u0131l\u0131\u011f\u0131nda, yap\u0131lacak binadan belirli say\u0131da ba\u011f\u0131ms\u0131z b\u00f6l\u00fcm (daire, ofis vb.) almas\u0131 esas\u0131na dayanan s\u00f6zle\u015fme t\u00fcr\u00fc.<\/li>\n
YAG (Yat\u0131r\u0131m Ama\u00e7l\u0131 Gayrimenkul):<\/b> Kira geliri veya de\u011fer art\u0131\u015f kazanc\u0131 elde etmek amac\u0131yla elde tutulan ta\u015f\u0131nmazlar.<\/li>\n
Huzur Hakk\u0131:<\/b> Y\u00f6netim kurulu \u00fcyelerine toplant\u0131lara kat\u0131l\u0131mlar\u0131 ve \u00fcstlendikleri sorumluluklar kar\u015f\u0131l\u0131\u011f\u0131nda \u00f6denen ayl\u0131k \u00fccret.<\/li>\n