A major state-seized furniture business in Turkey has been placed back on the auction block, reigniting debate over asset confiscations and investor appetite in the country.
The move follows a failed sale attempt last year, raising fresh questions about valuation, political risk and market confidence surrounding state-controlled assets.
© Franky44 | Dreamstime
Authorities are now seeking new bidders, with a significant upfront deposit required to participate in the tender process.
The company, İstikbal Mobilya, is being offered in full by Turkey's Savings Deposit Insurance Fund (TMSF) at an estimated value of 16.5 billion Turkish lira (around $371m).
The asset was originally seized from the Boydak family over alleged links to the Gülen movement, which Ankara designates as a terrorist organisation. Critics, however, argue that such seizures form part of a broader crackdown lacking due process.
A previous auction in September 2025 failed to attract buyers, while a related brand, Bellona, was sold earlier that year for 8.1 billion lira.
The renewed sale highlights ongoing efforts by Turkish authorities to offload confiscated businesses, even as human rights groups warn that the wider policy risks undermining investor confidence and property rights protections.
Source: www.stockholmcf.org
