According to the action plan announced by the Government, there will be built a total of 40 thousand social units until 2018 within urban transformation areas, nearly 3 million people will benefit from the project.

40.000 houses will be made within Urban Transformation!

According to the action plan announced by the Government, there will be built a total of 40.000 social units until 2018 within urban transformation areas, nearly 3 million people will benefit from the project.


According to President Ahmet Davutoğlu’s “Urban Transformation Project Action Plan” statement, there will be built a total of 40 thousand social units until 2018 within urban transformation areas and 180.500.000 m2 land will be converted until 2018 as well. 1.775.000 people will benefit from urban transformation project in 2015 and this number will increase to according to the plan.

Within the Urban Transformation Plan, which will be applied by TOKI, the Ministry of Environment and Urban Planning, Finance and municipalities partnership, private sector will be given tax breaks and incentives and there will be some arrangements for the removal of the difficulties faced by foreign investors while property purchasing. There will also established a support mechanism to promote green building and settlement practices.

Loan interest support for urban transformation

There is also a new regulation about real estate sector. New real estate certification system will be implemented jointly by SPK, TOKİ, GYODER, KONUTDER, Ministry of Environment and Urban Planning, Treasury, Capital Markets, Ministry of Finance and municipalities. New regulations includes new financial rules such as Conversion of the Special Account may be used to finance urban transformation projects and there will be support the loan interest which will be used within transformation.

Su BAHADIR // [email protected]