Urban transformation packages announced

In addition to the supports previously put into effect by the Ministry of Environment, Urbanization and Climate Change within the scope of works for the construction of new structures and urban transformation, new packages were announced regarding the urban transformation of structures located in risky areas or that are themselves risky. Support packages were prepared for the owners of structures located in risky areas or that are themselves risky, and for contractors and housing producers within the scope of urban transformation. It was stated that within the scope of the financing package offered to the owners in coordination with the Ministry of Environment, Urbanization and Climate Change, financing opportunities of up to 1 million 250 thousand TL per person will be provided and up to 840 basis points of the financing cost will be covered. In addition, by including the Treasury-supported guarantee system in the scope, contractors and housing producers will be provided with access to financing under suitable conditions during the urban transformation process. The compensation rate applied so far within the scope of the Treasury-supported guarantee system was increased from 7 percent to 9 percent specifically for this package. A total financing opportunity of up to 250 million TL with a maturity of 48 months, including a 12-month grace period, will be offered in the financing package. In this regard, it was stated that a 50 billion TL guarantee limit will be made available for use.