Istanbul office
Turkish President Recep Tayyip Erdogan announced, on Friday, an urban transformation campaign in Istanbul, in which the government will pay half of the costs of rebuilding old buildings.
This came in a speech during the ceremony of handing over and laying the foundation stone for urban transformation projects, which was held in the Gaziosmanpasa district of Istanbul.
Erdogan indicated that the state will make a financial contribution to anyone who wants to own a home.
“So far, we have renovated 3.3 million homes with urban transformation and built 1.2 million homes with the ‘Toki’ Housing Corporation,” he added.
And he added, “Thanks to the contributions of our private sector, we have reached a very good level in our country in this field compared to what it was 20 years ago, but we see it as insufficient, as we are accelerating the process of urban transformation in places with a high risk of earthquakes, especially Istanbul