Savur Gayrimenkul Yatırım Ortaklığı A.Ş. (Savur GYO) is preparing to launch its initial public offering (IPO) following approval from the Capital Markets Board of Turkey, with subscription dates set for February 26-27 and March 2. The company plans to offer a total of 295.4 million TL in Group B nominal shares on the Borsa Istanbul under the ticker symbol SVGYO.
The IPO will consist of a capital increase of 208.4 million TL, alongside the sale of shares held by existing partners Mehmet Ali Yıldıran and Mehmet Sami Yıldıran, totaling 87 million TL. Following the offering, Savur GYO’s issued capital will increase from 874.6 million TL to 1.083 billion TL, resulting in a public float of 27.12%.
The offering, led by Tera Yatırım Menkul Değerler, is priced at 3.64 TL per share, with an expected total size of approximately 1.1 billion TL. Shares will be distributed using an equal distribution method to individual investors, and the company has committed to a one-year lock-up period for both founder and issuer sales.
Savur GYO enters the IPO process with a strong balance sheet, boasting total assets of 4.166 billion TL and equity of 3.037 billion TL. The company highlights its debt-free and disciplined financial structure, alongside a sustainable cash flow driven by tourism and rental income, and foreign currency revenues.
According to the company, 85% to 100% of the proceeds from the IPO will be allocated to project financing, recent investments, and value-enhancing investments in existing assets, with the remainder earmarked for working capital.
Savur GYO’s portfolio includes four hotels in Istanbul’s Historical Peninsula, as well as high-quality residential projects, generating consistent revenue. These holdings include the Ramada Grand Bazaar, Orientbank Hotel Istanbul Autograph Collection, Orient Occident Hotel Istanbul Autograph Collection, and Hotel St. Sophia, alongside commercial properties generating rental income. The company similarly owns the İV Kandilli residential project in Kandilli and land in Küçükçekmece.
The company notes that its hotels, located in Istanbul’s most popular tourist area, have significant potential to generate income in foreign currencies. Turkey’s tourism revenue reached $65 billion in 2025, attracting 63 million visitors, further supporting Savur GYO’s revenue model.
“Savur GYO offers a vision of sustainable income and long-term value,” the company stated. Its diversified portfolio and balanced structure provide a stable cash flow, while projects in different segments offer protection against economic fluctuations, supporting expectations for regular dividends and long-term value appreciation.
The company, which traces its roots back to 1947, has been led by its third generation since 2000. Savur GYO Management Board Member Yasin Yıldıran stated, “With the IPO, we are carrying our historical corporate legacy into the future with a new vision and financial strength. We are focused on creating quality living spaces based on privilege, quality, trust, and sustainability, and on producing the right projects in the right locations.”
Yıldıran added, “This step is not just a financial one for us, but also the beginning of a visionary growth period shaped by third-generation management. We will continue to pursue our strategic growth plans effectively by using the income we obtain from the IPO in the financing of new investments and the strengthening of our existing activities.”
Savur GYO Management Board Member Fırat Yıldıran noted, “We are entering the IPO process as a GYO with 4.166 billion TL in assets, and 3.037 billion TL in equity, and without debt. We have a structure that generates regular operating income, not just developing projects. Our tourism assets are located in the Historical Peninsula, the most special location in Istanbul in terms of tourism, and have high potential value.”
Savur GYO is also presenting a new value-focused concept in residential development, leveraging its experience in international hospitality. The company’s first residential project, İV Kandilli, is positioned as a long-term investment opportunity, combining construction quality, service approach, and architecture.
The company’s development strategy extends beyond İV Kandilli, with plans for a new mixed-use project on land it owns in Istanbul’s Küçükçekmece district, benefiting from airport connections, metro investments, and urban transformation projects.
Founded in 1947 by Fethi Yıldıran, Savur Group has successfully invested in various sectors, including construction, real estate, tourism, timber trading, international road transportation, and automotive electronics. Savur GYO was established through a partial spin-off from Savur Otelcilik on August 9, 2023, and transitioned to a Real Estate Investment Trust (REIT) status on May 30, 2024.
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