Turkish Red Crescent Transferred 9 Properties Worth 497 Million TL to Its Own Company for 109 Million TL

The Turkish Red Crescent transferred nine properties with a market value of 497 million lira to "Red Crescent Real Estate and Venture Capital Portfolio Management Inc.," a company it established, for 109 million lira. Details of the sales were included in the Interior Ministry Commission Report on the Red Crescent law proposal to be discussed in Parliament this week.

In opposition statements written by members of the YENİ Party, CHP, İYİ Party, YENİYOL, and DEM, Interior Ministry inspectors identified and listed nine properties one by one. Leading the transfers made since 2021 is a property worth 80 million TL in Maltepe, Istanbul; this property was sold to the company for 23 million TL. In Kayseri, a property valued at 35 million 760 thousand TL saw its transfer price remain strikingly low in the publicly disclosed portion, in the same proportion.

The Red Crescent's buildings, hospitals, and business centers in Istanbul's Maltepe, Kartal, Bakırköy, and Fatih districts; and in Ankara, Konya, Kocaeli, Kayseri, and Tekirdağ are included within the scope of these transfers. Interior Ministry inspectors sent an official letter to the Red Crescent asking whether an investigation was initiated regarding the transactions.

It is recalled that the Red Crescent drew deep public backlash for selling tents to disaster victims during the 2023 earthquake; a portion of the property transfers in question began in 2021, concurrent with those controversies. A law proposal prepared by 83 ruling party MPs is set to complete the commission phase.