What are the real estate projects guaranteed by the Turkish government ?
Properties in Turkey that are guaranteed by the Turkish government are known as the joint sector and combines the advantages of both the public and private sectors, so that the Turkish government supervises these real estate projects implemented by private Turkish construction companies, which guarantees the right of the buyer at all stages of the project, and is characterized by the reliability of legal procedures and the quality of implementation .
The advantages of projects guaranteed by the Turkish government are many, among them:
Legal integrity in operating so that it is immune to any potential risks upon delivery, licensing procedures, or even the risk of bankruptcy, with no fear that the project will fail or be handed over to the buyer in a manner that differs from the required specifications.
Real estate prices in Turkey in projects affiliated with the government sector are considered moderate prices, so that prices are controlled and balance is created in the real estate market. Which creates an atmosphere of competition and attracts a large number of investors for public sector projects.
Ensuring the quality of work so that the executing construction companies are selected based on reputation and reliability in dealing and performance in previous projects.
The properties guaranteed by the Turkish government are characterized by elegance and non-fraud in terms of refurbishment and delivery of the property in accordance with the set specifications.
These projects are equipped with all services and facilities such as health centers, schools and religious sites, in addition to sports clubs and parks.
In some projects, the government sector chooses distinctive sites for the construction of such projects.
What are the measures taken by the Turkish government to guarantee the right of the buyer in the presale stage?
The Turkish government is working to guarantee the buyer’s right during all stages of the building process. The procedures begin with reviewing the licenses obtained by the construction companies, and then auditing the marketing process of the project by reviewing its marketing catalogs.
Finally, a committee representing the government sector visits the project to inspect the apartments before they are offered for sale to the buyers.
The Turkish government also guarantees the right of the foreign investor in the selling stage, so what are the procedures followed at this stage?
At first, the contract concluded with the Turkish government is certified by a notary, which means that the purchase is made directly between the investor and the government, and then the contract is fully translated by a certified translator.
The installments are transferred by the investor to the bank account of the public sector, which in turn transfers them to the executing company in conjunction with the progress of the work, and these payments are not completed until after the completion of the implementation of the project by the constructing company.
Despite all the advantages and strengths that characterize this type of project, it has some negatives which are:
Some of these projects may be characterized by monotony and refined architectural form, and the quality of the constructing materials may be average,
Some of these projects could be far away from city centers and concentrated in the outskirts and suburbs, but the Turkish government is seeking to fill such gaps today, as it is choosing developed investment areas such as Basaksehir and is keen to choose the best materials for construction and finishing
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