The legal regulations regarding REITs were completed and realized in 1995 by the CMB and the REIT companies begin their operations at the stock market in 1997.
The number of REIT companies at the ISE (BIST) increased to 29 as of September 2013. On the other hand, there are other corporations that have completed establishment procedures and waiting for public offering, besides the REITS listed at the ISE. A serious increase in the number and total portfolio amounts of the REITS in the following years after the completion of their planned public offering.
Despite the REIT market is relatively new in our country, there has been a considerable corporate capital entry to the market. Tax incentive provided by the government has motivated many companies to create new finance resources by turning the idle immovables in their assets to movables by establishing real estate investment trusts. New REITS have entered the market due to the growing demand in the real estate market, the need for corporate capital for meeting demand, and the enabler role of the REITS for small investors to make real estate investment even at small amounts. With consideration of the fact that people of our country evaluate their savings mainly at real estate, the entry of corporate capital that is managed by professionals to the construction sector becomes very important. Providing corporate capital flow to the market in parallel with the applicability of long term residential finance, REITS are expected to have a more active role in the sector as a new capital market tool.