Projects with the Governments Guarantee in Istanbul 2020

What is the meaning of a real estate project guaranteed by the government?

Simply this means that the ownership of the project land belongs to the Turkish government and that the government guarantees the completion of this project’s construction.

In this case, the government is a partner and guarantor of the project. The government is the owner of the land on which the real estate project is built and allocates the land to the construction company so that the latter will build and develop the project.

The Government Guarantee shall be through the contract signed with it at the time of purchase where the contract provides for it; through the payments that enter its account to pay the monthly installments and through the follow-up of the guarantee of the project progress and its timely delivery.

The construction company is responsible for the construction and development of the real estate project alongside the government, and the government is responsible for marketing and selling the project.

People who own a property in one of these projects sign the sales contract with a governmental company and all payments to the government are made by bank transfers.

According to a law issued in 2013, foreigners are allowed to own long-term projects, usually under the government's guarantee. This has led to a strong demand from Arab investors to own and invest in real estate in Turkey.

You can watch a video recording of the property provided by Imtilak Real Estate to define the government guarantee.

Imtilak Real Estate offers many of the leading projects in Istanbul, which you can review on this page, or you can easily contact us for your getting a consultation.