Very Important New Arrangement!
Minister of Environment and Urbanism Mehmet Ozhaseki announced that they are working on a new financing model for the transformation of 500 thousand buildings per year in Turkey which based 200 thousand in İstanbul.
Ozhaseki who told municipality and private sector interest-free loans can be distributed annually $ 5 billion, said that the annual contribution to the economy would be around $ 45-50 billion. During a conversation with a group of journalists, Minister Ozhaseki was asked a question by frequently talked about the earthquake warning reminded, “ you say that 7.5 million buildings, especially Istanbul, should be transformed urgently. But where do you get the money for this? ”
Mehmet Ozhaseki who indicate that they are working on some formulas for solving two fundamental problems such as financing and reserve area in urban transformation, explained one of the formulas that they will make final decision by bringing to the Council of Ministers:
Target 500 Thousand Buildings
“We aim to destroy and rebuild at least 500 thousand independent units annually. It’s an easy figure. 200 thousand for Istanbul and 300 thousand for Anatolia. Construction is moving between 250 and 300 domestic and national sectors. Therefore, the construction of 500 thousand housing means the return of 45-50 billion dollars in the domestic market. We have two serious problems, one is financing and the second is the reserve field.
We Will Find Credit
Municipalities and individuals need money when they want to convert. We can use loans from investment banks like World Bank, European Investment Bank, Islamic Development Bank. We want to give this credit to the municipalities and take over the interest.