Özdemir Turizm ve Ticaret AŞ files for concordat

Özdemir Turizm ve Ticaret AŞ, a construction company established in Bursa in 1986, has applied for concordat to restructure its financial situation and debt obligations. A court has granted a three-month temporary concordat period for the company.

Operating under the brand Özdemir İnşaat ve Yatırım (Özyatırım), the firm is well known for developing numerous housing and villa projects in the Edremit Gulf region of Balıkesir, specifically in Akçay, Altınoluk, Güre, and Küçükkuyu.

The company currently has two major ongoing projects: Güre Konakları, which consists of six villas on a 1,509 square meter area, and Özdemir Panorama, a 48-unit residential project situated on 5,205 square meters.