High Interest in Financial Support Provided for the Transformation of Risky Structures in Istanbul
Within the framework of the project carried out by the Ministry of Environment, Urbanization and Climate Change, preferential loans of up to 3 million liras are provided to right-holders.
It was reported that preliminary applications covering 284,272 independent units were made in about 6 months for the financial support implemented to transform risky structures across Istanbul.
Scope of the Project and Application Process
The Climate and Disaster Resilient Cities Project, carried out in cooperation with the Ministry of Environment, Urbanization and Climate Change and the World Bank to transform risky structures into safe residences in Istanbul, was launched in April.
As of September 19, the number of right-holders interviewed reached 27,613 people, and as a result of these talks, preliminary applications were received for a total of 284,272 independent units.
Conditions of Financial Support
Right-holders who want to be included in the transformation process are provided with favorable financing opportunities of up to 3 million liras to renovate their residences.
In the support package provided, alongside a 12-month grace period for repayments, advantages of up to 180 months maturity and an interest rate of 0.69 percent are applied.
Districts with the Highest Number of Applications
Within the scope of the project, the total number of applications in the 15 districts of Istanbul with the highest preliminary applications was recorded as 21,956, and these applications covered 235,157 independent units.
Among the districts, Bakırköy ranked first in the number of applications, while the highest figure in terms of the number of independent units was recorded in Kartal district.