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Turkish glass producer Sisecam has agreed to sell land assets in Istanbul’s Beykoz district for $171.5 million as part of its real estate portfolio restructuring.
According to a company filing on Friday, the transaction involves properties classified under Sisecam’s "Investment Property" portfolio, located in the Incirkoy neighborhood on Istanbul’s Asian side. The total land area reaches 117,019 square meters and consists of 11 separate plots.
The company described the disposal as part of a strategic asset sale process involving land holdings previously tracked as investment property on its balance sheet.
The buyer is Celikler Taahhut Insaat ve Sanayi A.S., a Turkish construction and contracting firm. The properties, which are undeveloped land parcels, will be transferred in full to the acquiring company once legal procedures are finalized.
Sisecam will receive the full $171.5 million payment upfront under the terms of the agreement, eliminating deferred payment risk and immediately strengthening the company’s cash position.
Both parties agreed to share equally the transaction-related costs, including title deed transfer fees, taxes, and administrative charges required to complete the ownership transfer.
The deal comes as Sisecam continues to reshape its investment portfolio as part of a broader effort to streamline its asset base and improve capital allocation.
Sisecam has been expanding its coated glass production capacity through multiple facility upgrades and new production lines. In February 2026, the company started operating a new coated glass line in San Giorgio di Nogaro, Italy, following a €25 million ($29.61 million) investment aimed at strengthening its position in the European glass market.
In addition, Sisecam completed another coated glass line in Bulgaria, adding 6 million square meters of annual capacity, and plans to bring a new production line online in Tarsus, Türkiye, later in 2026.
"The steps taken under our sales plan for non-operational real estate and the effective management of our precious metals portfolio supported our liquidity during 2025 and will continue to contribute in the same way in 2026," Sisecam CEO Can Yucel previously said.
Founded in 1935, the company operates production facilities in 12 countries, including Türkiye, Italy, Bulgaria, the United States, India, and Egypt, supplies customers in more than 150 countries, and reported consolidated revenue of ₺225 billion ($5.69 billion) in 2025.
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