Commentary & Deal Flow

Emlak Konut Gayrimenkul Yatirim Ortakligi A.Ş. (”Emlak Konut”), a real estate investment company that is 49.3% owned by the Housing Development Administration of the Republic of Türkiye and primarily operates in the residential market in Türkiye’s key cities, (country: Türkiye) rated BB- by Fitch with a stable outlook, has mandated Emirates NBD Capital and HSBC as Joint Global Coordinators and Joint Bookrunners, and HSBC as Sole Sukuk Structuring Bank, along with Abu Dhabi Islamic Bank, Arqaam Capital, Bank ABC, Dubai Islamic Bank, Sharjah Islamic Bank, Warba Bank as Joint Lead Managers and Joint Bookrunners to arrange a series of virtual fixed-income investor meetings, commencing on 18-May-26.

A 5-year, US$ Benchmark, Reg S Senior Unsecured inaugural Sukuk (the “Certificates”), issued by Emlak Konut Varlik Kiralama A.Ş. (the “Issuer”) with Emlak Konut as Obligor, may follow subject to market conditions. The Certificates are expected to be rated BB- by Fitch.

Relevant stabilisation regulations including FCA/ICMA will apply.