Istanbul Property Scam

Istanbul Property Scam Garanti Koza Construction Developer Went Bankrupt

Property Istanbul


Another bankruptcy came from Istanbul real estate and construction, one of the sectors most affected by turbulence in the Turkish economy. The court ruled the bankruptcy of the 73-year-old Guarantee cocoon construction company.

Garanti Koza, which has been operating in the field of construction contracting and real estate development in Turkey since 1948, was decided to go bankrupt.

Istanbul Bakırköy 3. According to the decision of the Commercial Court of First Instance on March 30, 2021, the liquidation proceedings of the company began.

The announcement of the decision No. 2020/917 on 31 March was as follows: "2600-0 Istanbul Trade Registry number and 3890006679 tax number registered ‘Oruçreis Mh. Teskstilkent Cd. Tekstilkent Site B Block, No:12A/161 Esenler / Istanbul’ Muflis Garanti – Koza Construction Industry and trade Joint Stock Company operating at 30/03/2021 date time 14: 24 as of the bankruptcy was decided and the liquidation operations were started from the above-written file of our directorate. I.I.K. 166. It is communicated and announced in accordance with the article.”


To date, Garanti Koza, which produces more than 20 thousand houses in Istanbul and brings brands such as Akkoza and Akbatı to the city, had 60-70 shareholders, 6 of whom were large.

In some projects that the company, which also has housing, shopping malls and hotel projects in Bulgaria, implemented in Turkey, citizens were victims because they could not get their deeds.

Many of the owners were surprised by the mortgage when they attempted to sell their Istanbul apartments and the deed after they had received it.

Although they did not have debts, Turks and Foreigners, Investment Firms, Homeowners who found out that their deeds had Turkish bank mortgages on them took the breath under the management of Garanti Koza in Istanbul Turkey They found out that a Turkey bank had put mortgages on houses because the firm could not pay off the commercial loan it had taken out.