New Decisions to Support Urban Transformation in Istanbul Published in Official Gazette
President of Turkey Announces Support Package for Urban Transformation in Istanbul
In a recent decision published in the Official Gazette, the President of Turkey has announced a comprehensive support package for urban transformation in Istanbul. The package includes grants and loans for both residential and commercial properties undergoing transformation.
According to the decision, beneficiaries of the urban transformation process in Istanbul will be eligible for a 700 thousand TL grant and a 700 thousand TL loan. Additionally, tenants whose homes are undergoing urban transformation will receive 100 thousand TL in unpaid rent support. Workplaces undergoing transformation will be eligible for a grant of up to 350 thousand TL and a loan of up to 350 thousand TL.
Minister Özhaseki commented on the announcement, stating that the support package, which falls under the “Half is on Us” campaign, will greatly accelerate the urban transformation of Istanbul. The total support package amounts to 1.5 million TL, which includes grants, loans, and evacuation support.
Minister Özhaseki expressed gratitude to President Erdoğan for his continued support and stated, “May it be beneficial to our Istanbul and our citizens.”
This decision is expected to have a significant impact on the urban transformation process in Istanbul, providing much-needed support to both property owners and tenants. The government’s commitment to accelerating the transformation process is a positive step towards improving the living conditions in the city.
