Announcement from Ministry of Treasury about “urban transformation” support package

The Ministry of Treasury and Finance and the Ministry of Environment, Urbanism and Climate Change have prepared support packages for contractors and housing producers within the scope of urban transformation.

A statement made by the Ministry of Treasury and Finance said “We are rapidly continuing our work on the construction of new structures and urban transformation with our Ministry of Environment, Urbanism and Climate Change, and we continue to provide appropriate financing opportunities as the Ministry of Treasury and Finance in this context.”

The statement continued as follows:

“In this context we have prepared support packages for below groups

1. The owners of buildings located in risky areas or risky buildings
2. Contractors and housing producers within the scope of urban transformation.

SUPPORT OF UP TO TL 1,250,000 PER PERSON

Within the scope of the financing package we offer for the owners in coordination with the Ministry of Environment, Urbanism and Climate Change, we offer financing opportunities up to 1.250.000 TL per person and cover up to 840 basis points of the financing cost. With the package, we offer another important convenience for our citizens to improve their living conditions.

In addition, by including the Treasury-backed bail-out system in the coverage, we ensure that contractors and home builder companies have access to financing under appropriate conditions during the urban transformation process. We are increasing the compensation rate we have applied so far from 7% to 9% in this package within the scope of the Treasury-supported bail-out system. In addition, we also use the bail rates authorized by our Ministry in the legislation at the maximum level. With this financing package provided under very favorable conditions, we offer financing opportunities up to TL 250 million with a total maturity of 48 months, including the possibility of a 12-month grace period. In this direction, we are opening the 50 Billion TL bail limit for use.

SOURCE: hurriyet.com.tr/ekonomi/hazine-ve-maliye-bakanligindan-kentsel-donusum-destek-paketi-aciklamasi-42235626?