Home    Minister Mehmet Ozhaseki: 500 Thousand Housing Will Be Transformed

Minister of Environment and Urbanizm Mehmet Ozhaseki explained that they are working on a new financial model project in order to transform 500 thousand housings in Turkey. 200 of these housings are in Istanbul. Ozhaseki said: “We aim to demolish at least the 500 thousand housings annually and then transform them. It seems easy to say but there are 200 thousand housings in İstanbul and 300 thousand in Anatolian. Construction makes the 250-300 sectors to move. So building the 500 housings means almost 45-50 billion dollar will be in the domestic market. We have 2 serious problems. First title is about financial and the second one is the problem of reserve area. Individuals and the municipalities need money in order to urban transformation. We can use credit from the investment banks like World Bank, European Investment Banka and Islamic Bank. We want to give this loan to the municipalities and undertake the interest of the related loan. We will pay only the interest as state. “

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7.5 Million Housings will be Transformed in 10 Years

Minister Mehmet Ozhaseki continued to his speech: “We can transform 7.5 million housings in 10 years if we find a source that can be produce 5 billion dollar annually. We must have this amount during a few years continuously. This means that a financial source of 10 billion dollar can support us in our project from the beginning to end. We must also find a solution for the reserve area problem otherwise Intensity increases will continue in big cities like İstanbul”

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