The Turkish government provides substantial financial support for those wishing to undergo urban transformation in Istanbul.

In recent years, the Turkish government has especially accelerated the process of urban transformation, which includes the reconstruction of areas with old buildings that lack the capacity to withstand earthquakes and other natural disasters.

The government has issued many decisions encouraging citizens to join this process, which involves urban renewal in old building areas throughout Turkey, especially in Istanbul.

Unprecedented Financial Support by Presidential Decree

The Official Gazette yesterday published a decision signed by President Recep Tayyip Erdogan, providing grants of up to 700,000 lira and loans of up to 700,000 lira to homeowners included in the urban transformation process. Grants of up to 350,000 lira and credit support of up to 350,000 lira are also provided to owners of workplaces and commercial properties within the scope of the urban transformation process in Istanbul.

The decision also includes loans of up to 1,400,000 Turkish lira for each home and up to 700,000 Turkish lira for each workplace under certain conditions.

Tenants in Renewal Areas Will Also Receive Financial Support

The decision also provides financial support of 100,000 Turkish lira to tenants residing in properties that will be rebuilt as part of the urban transformation process, under the name "evacuation support," which will be paid once.

We Strive to Move Quickly in the Urban Transformation Process

Minister of Environment, Urbanization, and Climate Change Mehmet Ozhaseki confirmed on his Twitter account that the Turkish government is determined to proceed with the urban transformation process to renew old and unreinforced places against earthquakes throughout Turkey, especially in Istanbul.

He pointed out that this important decision is an extension of the "Half on Us" campaign launched by the ministry years ago, which included several areas subject to urban transformation in Istanbul.

What Are the Urban Transformation Areas in Istanbul?

These are areas with many buildings constructed before 1999 that have not yet been reinforced to earthquake standards, as well as some neighborhoods with old buildings over 50 years old, such as Fikirtepe in Kadikoy, Gulsuyu in Maltepe, Sulukule in Fatih, and Okmeydani in Beyoglu.