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The value of land and parcel auctions held by Turkey’s Housing Development Administration, or TOKİ, surpassed 1 billion Turkish Liras between January and August. The money has been used to build more than 400,000 housing units.
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A total of 368 premises and properties were sold during this period of time, providing revenue of 1.21 billion liras. The overall area of property auctioned off in the past eight months was 3.51 million square meters.
The sales revenues were used by the administration to finance housing projects for low-income people as well as in other social projects. In this way, TOKİ has generated its own financial resources and not need to take any share from the Treasury.
The current legislation enables TOKİ to procure land owned by the Treasury for housing projects for low-income people as well as for other social projects. The administration also takes unused or problematic state property into its own possession. In return for public land, TOKİ builds public facilities such as schools, hospitals, residences and administrative buildings. TOKİ then sells the property that is unsuitable for its projects, thus generating its own resources.
An example of projects realized through such a model is Galatasaray’s new Türk Telekom Arena, which TOKİ built in exchange for the land of the club’s former Ali Sami Yen Stadium, which was property of Turkey’s Youth and Sports General Directorate.
TOKİ has until now built some 202,000 houses for middle-income people, 140,000 houses for poor and low-income people, 62,000 houses in the framework of urban renewal projects, 18,000 houses in post-disaster areas and 4,000 houses in rural areas.
Regarding social facilities, the administration has completed the major part of work for its projects in the construction of 734 school buildings, 771 sports centers, 36 libraries, 430 trade centers, 134 hospitals, 89 health care centers, 368 mosques, 72 dormitories and student hostels, 24 child rehabilitation centers and 17 centers for disabled people.
TOKİ has signed protocols for the construction of eight more stadiums. |
Source : hurriyetdailynews.com
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