Reysas Gayrimenkul Yatirim Ortaklig

What Reysas Gayrimenkul Yatirim Ortaklig does

Reysas Gayrimenkul Yatırım Ortaklığı A.Ş. (Reysas GYO) is Turkey's first and only Real Estate Investment Trust (GYO) focused exclusively on industrial warehouse and logistics real estate. Founded in 2008 and publicly listed on Borsa Istanbul (ticker: RYGYO) since 2010, the company operates 2.2 million m² of total storage area across 137+ buildings in 13+ Turkish provinces, making it the country's largest warehouse landlord by total area. Its core product is Class A logistics warehousing leased to Fortune 500 and top-tier Turkish enterprises — automotive (Toyota, CKD/Hyundai supplier, Arçelik), retail (CarrefourSA), agriculture (Pioneer Tohumculuk), and multinational and domestic logistics operators — under long-term contracts averaging 10 years.

Revenue is generated through three primary mechanisms: recurring rental income on owned warehouses; rooftop solar energy (GES) generation sold to the national grid under 10-year government-guaranteed foreign-currency purchase agreements and used for warehouse self-consumption, with 17.34 MW of installed capacity across warehouse rooftops; and ancillary asset classes including the REYPARK multi-story vehicle storage and preparation facility (up to 10,000-vehicle capacity). Pricing is negotiated per project rather than publicly disclosed, and go-to-market is direct enterprise sales targeting blue-chip tenants. The company is expanding vertically beyond core warehousing into adjacent assets: REYPARK for automotive finished vehicles, the Reysera geothermal tomato greenhouse in Denizli, the Holiday Inn Palandöken hotel in Erzurum, and a recently acquired 6.2 MW hydroelectric plant (Çağlayan HES) in Trabzon. Reysas GYO is controlled by the Döven family through Reysas Yatırım Holding, with Reysas Logistics holding approximately 65% of shares and providing tenant pipeline synergies.

Name

Reysas Gayrimenkul Yatirim Ortaklig

Legal name

REYSAŞ GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş.

Website

https://reysasgyo.com.tr

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Reysas GYO is Turkey's first and only warehouse-focused Real Estate Investment Trust (GYO), operating 2.2 million m² of Class A logistics warehouses across 13+ provinces and leasing them primarily to Fortune 500 enterprises under long-term contracts, with integrated rooftop solar and adjacent automotive, hospitality, and renewable energy assets.

Ownership category

akta.pro rank

Product category

Industrial / Logistics Real Estate (REIT)

NAICS

General Warehousing and Storage (493110), Farm Product Warehousing and Storage (493130)

SIC

Public Warehousing & Storage (4220)

akta.pro primary industry

Industrial & Logistics Property Management (BPAJAGAC)

Keywords

• Industrial warehouse leasing
• Logistics real estate
• Warehouse investment trust
• Rooftop solar energy
• Logistics property development

Headquarters

HQ city

Üsküdar

Offices13 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Others

Revenue model

1. Warehouse Rental Income: Long-term lease of A+ class industrial warehouses to multinational corporations and Turkish logistics companies. Average contract duration is 10 years. The company develops and owns warehouse properties, renting them to tenants for recurring rental income. Tenants include Fortune 500 companies (99% of customers).
2. Solar Energy (GES) Sales: Rooftop solar installations generate electricity for self-consumption in warehouses and surplus is sold to the grid. Government provides 10-year guaranteed purchase price in foreign currency. The 850 kWp Torbalı facility produces 1,525,000 kWh annually generating approximately 1.5 million USD in electricity value.
3. Green Warehouse Energy Self-Sufficiency: Solar energy systems enable warehouses to be fully self-sufficient in electricity production, reducing operational costs and providing price stability against electricity price increases.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Reysas GYO is Turkey's first and only Real Estate Investment Trust (GYO) specialized in industrial warehouse and logistics real estate. The company develops, owns, and leases Class A (A+) logistics warehouses and storage facilities across 13+ Turkish provinces, totaling more than 2.2 million m² of storage area, primarily to multinational corporations and large Turkish enterprises under long-term (average 10-year) contracts. Beyond core warehouse leasing, the company operates rooftop solar power plants (GES), a multi-story vehicle storage facility (REYPARK), and sustainable greenhouse agriculture under the Reysera brand.

Product overview

Reysaş Gayrimenkul Yatırım Ortaklığı (GYO) is Turkey's first and only REIT specialized in warehouse and logistics real estate. Its core offering is a portfolio of Class A logistics warehouses and storage facilities — branded collectively under its REIT structure — leased to major multinational and domestic clients across multiple Turkish cities. The portfolio spans over 2.2 million m² of total storage area. Beyond its core warehouse-leasing business, the company operates several distinct product lines: REYPARK (a multi-story vehicle storage and preparation facility with PDI/PDS services, Turkey's first and largest of its kind); the Reysera sustainable agriculture brand (geothermal-powered greenhouse operations for tomato production); Holiday Inn Palandöken (a branded hotel development in Erzurum's ski tourism zone); and GES rooftop solar installations (17.34 MW total capacity across its warehouse portfolio) that serve both green logistics goals and energy revenue. Reysaş GYO also holds subsidiaries including Reysaş Turizm (%100) and Arı Lojistik (%50), and has expanded into hydroelectric power generation and social infrastructure (schools, healthcare facilities).

Differentiator

Problem solved

Functional benefit

Brands

• REYPARK: Multi-story vehicle storage and preparation facility project - Turkey's largest of its kind
• Reysera

Products and services

• A+ Sınıfı Depo Kiralama — Lojistik Depo Portföyü (Class A Warehouse Leasing) Rental of Class A logistics warehouses and storage facilities across Turkey. Reysas GYO owns and leases industrial-grade warehouses in strategic locations (Istanbul, İzmir, Ankara, Adana, Bursa, Kocaeli, and others) to multinational and domestic clients in sectors including automotive, food, FMCG, retail, and textiles under long-term contracts averaging 10 years. Total portfolio exceeds 2.2 million m².
• REYPARK — Çok Katlı Araç Depolama ve Hazırlama Tesisi Multi-story vehicle storage and preparation facility offering PDI and PDS services including vehicle washing, detailed inspection, technical review, and pre-shipment preparation. Designed as an integrated center for finished vehicles awaiting export, import, or distribution, with approximately 100,000 m² open area and capacity for up to 10,000 vehicles. Presented as Turkey's first and largest facility of its kind.
• Reysera — Sürdürülebilir Tarım (Sustainable Agriculture) Sustainable agriculture brand under which Reysas invests in modern greenhouse operations. Currently developing a 75,852 m² tomato greenhouse project in Denizli Sarayköy leveraging geothermal energy for climate-controlled, sustainable food production, with aims to contribute to regional development, employment, and the national economy.
• Holiday Inn Palandöken Oteli Four-season hotel development in Erzurum Palandöken, operated under the Holiday Inn brand. Located on 2,240 m² land with 108 rooms, 216 beds, conference facilities, restaurants, indoor/outdoor swimming pools, spa, fitness, and children's areas. Aimed at strengthening regional tourism infrastructure and winter sports tourism.
• GES (Güneş Enerjisi Santrali) Yatırımları — Rooftop Solar Installations Rooftop solar panel installations on warehouse rooftops generating renewable electricity for self-consumption and grid sale. Total installed capacity of 17.34 MW across facilities in İzmir Torbalı, Adana, Antalya Serik, Kocaeli Çayırova, and Istanbul Tuzla Orhanlı. Contributes to green logistics goals and provides additional revenue streams under government-guaranteed 10-year purchase agreements denominated in foreign currency.

Quantifiable outcome

• 830 tons CO₂ reduction annually from single 850 kWp GES facility
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered key, core and minor.

• Çağlayan HES Enerji Üretim A.Ş.keyStrategic or Co-development Partner · 1 January 2026100% acquired subsidiary operating 6.2 MW hydroelectric power plant in Trabzon. Strategic acquisition strengthening Reysas's renewable energy portfolio. Acquired for 6.93 million USD as part of sustainable growth strategy.
• Denizli Valiliği (Denizli Governorate)keyStrategic or Co-development Partner · 1 January 2026Government partnership for sustainable agriculture investment. Arsa Tahsis Protokolü (Land Allocation Protocol) signed for 75,852 m² sustainable tomato greenhouse project (Reysera brand) in Sarayköy district of Denizli.
• Hilton WorldwidekeyStrategic or Co-development Partner · 1 January 2019Licensed hotel brand partnerships for Erzurum Palandöken (Holiday Inn) and Eskişehir (Hilton Garden Inn) hotel developments. Reysas develops properties under international hotel brand licensing agreements.
• Toyota Türkiye (TMMT)keyStrategic or Co-development Partner · 3 February 2016Toyota Nearby Supply Park Project (NSPP) - dedicated supply park development near Toyota manufacturing facility. Reysas develops and operates warehouse facilities serving Toyota's supply chain logistics needs.
• Solar-Fabrik AG (Germany)keyTechnology or Integration · 1 January 2013German solar technology partner for rooftop GES installations. Contracts signed for 600 kWp second unit of Torbalı solar facility. German company's solar panel technology used in Turkey's largest rooftop solar installation.
• Reysaş Lojistik (Reysaş Logistics)coreStrategic or Co-development Partner · 1 January 2008Parent company and primary strategic partner. Reysaş Lojistik holds majority stake (~65%) in Reysaş GYO. The logistics company provides tenant relationships and operational synergies. Reysas GYO was established as a subsidiary of Reysaş Logistics to focus on warehouse real estate development.
• Reysaş Turizm Yatırımları ve Ticaret Ltd. Şti.coreStrategic or Co-development Partner · 1 January 2008100% owned subsidiary of Reysas GYO focused on tourism investments. Developing Hilton Garden Inn hotels in Erzurum Palandöken and Eskişehir as part of portfolio diversification.
• Arı Lojistik İnşaat Sanayi Ticaret A.Ş.minorStrategic or Co-development Partner · 1 January 200850% owned joint venture. Partnership in logistics construction and industrial real estate development.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Prologis: Global largest industrial REIT focused on logistics real estate leasing to multinationals. Closest international comparable for Reysas's warehouse leasing model, blue-chip tenant base, and renewable energy integration strategy.
• SEGRO: European-listed industrial REIT operating modern logistics warehouses across the UK and continental Europe. Comparable as a public REIT with concentrated logistics focus and long-duration customer leases.
• GLP (Global Logistic Properties): Major global logistics real estate developer and operator across Asia, Europe, and the Americas. Comparable as a build-to-suit, long-lease industrial REIT serving enterprise customers with multi-country footprints.
• Tritax Big Box REIT: UK-listed REIT investing in 'Big Box' logistics warehouses leased to major occupiers on long leases. Comparable for tenant quality, long WALT, and investment-grade logistics real estate focus.
• Goodman Group: Global industrial property group with integrated development, fund management, and long-term leasing of logistics real estate. Comparable business model focused on institutional-grade warehouses leased to large customers.
• ESR Group: Asia-Pacific focused logistics and data centre REIT with significant build-to-suit industrial development. Comparable for its warehouse portfolio scale and institutional fund management approach.
• Catena AB: Nordic-listed logistics real estate company owning and developing strategically located warehousing for e-commerce and 3PL customers. Comparable pure-play industrial property REIT with sustainability-linked capex.

Regional players

• Emlak Konut GYO: Turkey's largest state-linked REIT; primarily residential and mixed-use development. Useful Turkish listed-REIT comparable for capital market dynamics, GYO tax framework, and local investor base, though not a direct logistics competitor.
• Torunlar GYO: Turkish GYO with mixed residential, commercial, and office exposure. Provides a regional listed-REIT comparable for valuation reference, even though its portfolio mix differs from Reysas's industrial focus.

Others

• Ekol Lojistik: Major Turkish integrated logistics and 3PL provider operating warehouses and intermodal transport. Adjacent ecosystem participant as a potential Reysas tenant and as a regional scale comparable in Turkish logistics real estate consumption.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Reysas Gayrimenkul Yatirim Ortaklig