Trendyol opened the Trendyol Real Estate website last June to operate in the online real estate sector and started to collect requests from businesses that wanted to advertise on the platform. Businesses that want to enter Trendyol Real Estate today encountered the announcement text stating that Trendyol Real Estate was closed.
With the regulation published in the Official Gazette on July 7, 2022, various regulations and limitations were brought to e-commerce platforms. According to the statement made by Trendyol, it was decided to stop the Trendyol Real Estate service before it started operating due to the new regulation. It was stated that the new law does not allow the provision of advertisement services through Trendyol or in connection with Trendyol.
The e-commerce regulation was approved by the Parliament and became a law.
Trendyol Real Estate, which was developed by its owner as a competitor to platforms such as Hepsiemlak and Emlakjet, would include residences, offices and lands for rent and sale. A platform was opened for merchants who wanted to create advertisements and advertisements were started to be prepared, but they were not made available to customers. With today’s announcement, the Trendyol Real Estate project has been shelved.
Why was Trendyol Real Estate closed?
In the statement made by Trendyol on the subject, the following statements were made:
“As we have announced to you, the esteemed representatives of the real estate sector, we have started the infrastructure work for our Trendyol Real Estate initiative. We have met your intense interest in this process, first of all thank you. We have adopted the new e-commerce law published in the Official Gazette dated July 7, 2022 and implemented by our Ministry of Commerce. We need to review our business strategies and focus areas during the compliance process. The new law does not allow the provision of advertisement services on or in connection with the Trendyol platform. We will also need to significantly reduce our marketing investments and discounts in order to comply with the law. We will continue our Trendyol Real Estate initiative in the new market structure that will emerge Unfortunately, it is not possible. We would like to inform you, our esteemed stakeholders, that we have suspended Trendyol Emlak indefinitely.”
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