Great Interest in Transformation Credit for Risky Structures in Istanbul

Right holders showed intense interest in the low-interest transformation credit in the project carried out in cooperation with the Ministry of Environment, Urbanization and Climate Change and the World Bank.

Scope of the Project and Application Data

Work started in April within the scope of the Climate and Disaster Resilient Cities Project, carried out by the Ministry of Environment, Urbanization and Climate Change in cooperation with the World Bank for the transformation of risky structures in Istanbul.

Following the work implemented in April, the number of right holders consulted in the city reached 27,613 as of September 19, and applications were received for a large number of independent units.

Details of Financial Support

Right holders who want to be included in the transformation process are supported with financing up to 3 million liras, a grace period of the first 12 months, a maturity of up to 180 months, and an interest rate of 0.69 percent.

With this favorable financing model, it is aimed to facilitate the participation of citizens in urban transformation processes and to make risky structures resistant to disasters by renewing them.

Districts with the Most Demand

Among the districts receiving the most demand within the scope of the project, Bakırköy, Bahçelievler, Kadıköy, and Kartal stand out.

In Kartal district, 2,393 applications pertained to 41,107 independent units, while thousands of applications were also received in other districts.

Subsequent Evaluation Process

The pre-applications received in Istanbul over a period of approximately 6 months clearly revealed the scale of demand for urban transformation financing.

The pre-applications, which are still in the evaluation process, will be finalized after the completion of eligibility checks.