With respect to the project carried out by our Company in Marmaris, our Company had filed a lawsuit before the Muğla 4th Administrative Court under File No. 2025/215, seeking the annulment of the Penalty Notice No. 1 dated 16 January 2025, which had been issued in relation to the administrative fine of 2,677,149,516.00 TL imposed by the decision of the Marmaris Municipal Executive Committee.
By its Decision No. 2026/808, the Court ruled that, since the underlying zoning administrative fine had previously been annulled by a final judicial decision, the Penalty Notice No. 1 dated 16 January 2025, issued for the collection of such fine, was likewise unlawful. Accordingly, the Court decided to annul the contested administrative act in favor of our Company.
Respectfully announced to the public.
Kızılbük REIT Inc.