Preliminary Applications Made for 284 Thousand Independent Units in Istanbul's Urban Transformation Project
While talks with rights holders continue in the project carried out in cooperation with the World Bank, favorable financing opportunities provided have increased interest in the urban transformation process.
Within the framework of the Climate and Disaster Resilient Cities Project, carried out in cooperation with the Ministry of Environment, Urbanization and Climate Change's Directorate of Urban Transformation and the World Bank, a high volume of applications was received across Istanbul.
Start and Scope of the Project
Work in Istanbul was launched in April within the scope of the Climate and Disaster Resilient Cities Project, carried out by the Ministry of Environment, Urbanization and Climate Change's Directorate of Urban Transformation in cooperation with the World Bank.
Interviews and Application Numbers
Following the start of work within the scope of the project, the number of rights holders interviewed in the city reached 27,613 as of September 19, and preliminary applications were received for 284,272 independent units for the transformation of risky structures.
Financing Support Provided
Within the scope of the project carried out in cooperation with the World Bank, support is provided to rights holders wishing to participate in the transformation process with financing up to 3 million liras, a grace period of the first 12 months with no repayments, maturity up to 180 months, and an interest rate of 0.69 percent.
Prominent Districts and Distribution
Within the scope of the project in Istanbul, the total number in the 15 districts receiving the most preliminary applications was 21,956, and these applications covered 235,157 independent units.
Rankings by District
Bakırköy, Bahçelievler, Kadıköy, Kartal, Küçükçekmece, Üsküdar, Pendik, Ümraniye, Maltepe, Gaziosmanpaşa, Avcılar, Güngören, Şişli, Bağcılar, and Ataşehir stood out on a district basis; the highest figure in terms of the number of independent units was recorded in Kartal, while Bakırköy ranked first in the number of applications.
Evaluation Process
The preliminary applications received over a period of approximately 6 months are currently in the evaluation process and will be finalized after eligibility checks are completed.