Türk Telekom signs cooperation protocol with national postal service for real estate development

ISTANBUL

Türk Telekom has signed a cooperation protocol with Turkey’s national postal service PTT for real estate development, the telecom company said in a written statement on March 17. 

“The protocol aims to determine the general principles of secondary protocols in order to build cooperation on real estate development, project management and building management activities, carry out, support and promote collaborative studies for the joint interest and service requirements of the parties on the jointly-owned independent areas on the same parcel and mutually used real estates of the parties,” it said. 

As a part of the protocol, the parties will evaluate options so that the parties can generate higher income and reduce the operation costs of such properties, and establish a joint company or if necessary a real estate investment company, dubbed GYO in Turkish, with PTT in order to conduct activities including, but not limited to, services and consultancy or portfolio management to ensure the utmost rational utilization of these real estates.