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    Real estate investment trusts
Deniz Gayrimenkul Yatirim Ortakligi A.S.

Deniz Gayrimenkul Yatirim Ortakligi A.S.

BBIST:DZGYO
6.52
TRY
+0.18
(+2.84%)
0.63EPS
13.37P/E
3.37BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.79
0.04
0.04
0.05
0.06
0.07
0.18
2.29
1.35
3.39
2.75
1.58
0.28
0.36
Basic EPS, GAAP
-0.04
0.02
0.05
0.06
0.07
0.17
0.14
0.04
0.28
0.72
0.25
1.57
0.71
0.63
Free Cash Flow per Basic Share
0.01
0.03
0.03
0.03
0.04
-0.39
-2.2
-0.55
-0.01
1.66
1.46
2.2
0.95
0.45
Dividend per Share
0.02
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.76
0.78
0.83
0.88
0.96
1.12
1.19
1.33
1.8
6.13
9.09
13.47
14.18
16.62
Tangible Book Value per Share
0.76
0.78
0.83
0.88
0.96
1.12
1.19
1.33
1.8
6.13
9.09
13.47
14.18
16.62
Basic Weighted Avg Shares
66
223
223
223
223
219
93
160
346
400
400
400
400
400
Sales/Revenue/Turnover
53
8
10
12
14
14
17
367
467
1,355
1,098
631
111
143
Operating Margin (%)
6.1
37.93
43.42
46.15
52.34
28.77
27.88
1.76
24.03
0.77
-30.54
30.08
-49.23
-130.4
Depreciation Expense
- -
- -
- -
- -
- -
- -
1
1
2
8
12
16
16
10
Net Income, GAAP
-2
5
10
12
16
38
13
7
98
288
99
626
284
252
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
22.44
40.02
Profit Margin (%)
-4.62
63.06
105.77
104.54
116.67
266.1
80.09
1.78
21.03
21.23
9.06
99.22
256.23
176
Working Capital
7
14
-3
4
5
-38
247
44
336
1,262
1,314
2,189
2,718
625
LT Debt
- -
- -
- -
- -
- -
- -
2
2
2
2
- -
3
3
8
Total Equity
169
175
185
197
213
249
265
371
720
2,450
3,637
5,388
5,672
6,647
Return on Invested Capital (%)
- -
1.79
2.34
2.83
3.41
1.81
4.75
1.4
23.09
5.46
-11.05
14.2
-2.28
-2.64
Return on Capital (%)
- -
3.05
5.9
6.49
7.6
16.73
4.89
1.53
16.16
18.09
3.31
14.15
5.22
4.45
Return on Common Equity (%)
-2.41
2.98
5.73
6.46
7.7
16.57
5.2
2.05
17.98
18.15
3.27
13.88
5.13
4.4

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
13
19
222
LT Borrowings
- -
- -
- -
LT Finance Leases
3
6
8
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
400
400
400
Market Capitalization
2,996
2,980
3,368

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,811
3,035
1,028
Cash, Cash Equivalents & STI
2,081
2,225
56
Accounts Receivable, Net
8
16
17
Inventories
719
791
847
Total Current Liabilities
93
97
403
Payables & Accruals
- -
- -
- -
ST Debt
13
19
222
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
51.42%
87.2%
5.25%
Free Cash Flow
-2,570.37%
-4,926.46%
-57.05%
Net Income, GAAP
207.99%
401.21%
-54.7%
Sales/Revenue/Turnover
223.35%
14.74%
-82.46%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
193
88
184
113
631
2025
27
18
60
13
111
2026
30
41
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.19
- -
0.05
1
1.57
2025
-0.06
0.06
0.14
0.57
0.71
2026
0.01
-0.09
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Mehmet Çitil
Full Time Employees
11
Sector
Finance
Industry
Real estate investment trusts
Address
Istanbul Turkey
IPO Date
Oct 30, 2005
Website
denizgyo.com.tr
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Business
Deniz Gayrimenkul Yatirim Ortakligi A.S. is a Turkey-based real estate investment trust primarily engaged in property investment, real estate development, asset management, and portfolio leasing operations. Founded in 1995 and headquartered in Istanbul, Turkey, the company operates as a subsidiary of DenizBank A.S. under the wider group structure of Emirates NBD Bank PJSC. The company focuses on acquiring, developing, holding, managing, and leasing diversified real estate assets across Turkey, with major operations and asset footprints situated in Istanbul, Ankara, and Mugla. The company provides a comprehensive suite of real estate products and services, comprising luxury residential developments such as Le Chic Tarabya; hospitality and resort properties such as Le Chic Bodrum and the Sarigerme hotel development project; commercial office buildings including Deniz Ofis and the Karakoy commercial property; retail and commercial shopping centers such as Bahcesehir Carsi and Goksu AVM; land acquisition, zoning, and property development services; property management, rental administration, and lease operations; and investments in real estate-backed securities, money market instruments, and capital market assets. In recent corporate developments, the shareholding structure was consolidated in April 2024 following the completion of the transfer of shares from Deniz Yatirim Menkul Kiymetler A.S. directly to parent entity DenizBank A.S. under regulatory approvals from the Capital Markets Board and the Banking Regulation and Supervision Agency. Additionally, the company secured Environmental Impact Assessment clearance in mid-2025 for its flagship Sarigerme tourism and hospitality accommodation project in Mugla, subsequently resuming construction activities. In November 2025, the board of directors resolved to optimize its asset base by authorizing the structured sale and divestment of the hotel property and multiple independent units within the Le Chic Bodrum project, appointing financial and legal advisors to manage the transaction process.