First, can you please give us an idea of the sort of work your team has done recently (cases, transactions, projects)?

Our company has developed 6 million square metres real estate projects in Türkiye, for a turnover of $2.5 bn in the past five years. The legal team has been responsible to draft the contracts of the projects, providing added value to the company. Additionally, the in-house legal team had a pivotal role in making the agreements for the partnership with FC Barcelona in 2017-2019, and with Galatasaray football club. Real estate projects have been developed in New York, London, and Kazakhstan. We continue to develop new projects and establish companies in other countries in line with their investment targets. Legal aspects of project development and investment processes are completely managed by our legal team.

Which recent political, economic, or regulatory changes have impacted the company and the team the most?

Türkiye has been affected by an economic crisis since 2018, negatively affecting the construction industry. The construction cost index reaches its highest levels, and there has been a noticeable increase in labour and materials prices. Additionally, the Covid-19 pandemic has worsened the situation increasing exchange rate and affecting the construction sector. Despite all these negative effects, our company did not slow down its activities, and continued its construction by providing equity and delivered hundreds of houses to customers. In addition, in the last 3 months, it has purchased lands worth approximately $60 m, and added it to the equity of the company.

How do you suggest in-house lawyers build strong relationships with business partners?

Our company comprehends thousands of business partners, and it is our priority to build strong relationships with them. In order to do so it is necessary to clearly determine the legal and commercial relationship between the parties and establish rights and obligations. It is crucial to be transparent and inform business partners of any matters — there must be open and clear communication.