{"id":26754,"date":"2016-09-21T19:16:34","date_gmt":"2016-09-21T12:16:34","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=26754"},"modified":"2016-09-21T17:51:14","modified_gmt":"2016-09-21T10:51:14","slug":"turkey-to-complete-64000-affordable-new-homes-this-year-worth-2-5bn","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/turkey-to-complete-64000-affordable-new-homes-this-year-worth-2-5bn\/","title":{"rendered":"Turkey to complete 64,000 affordable new homes this year worth $2.5bn"},"content":{"rendered":"


\nTurkey’s government-backed housing agency Toki will build a record number of residential units worth US$2.5 billion by the end of this year, its president said.Toki will complete construction of 64,000 units this year, equal to 10 per cent of residential units built in Turkey annually, Ergun Turan said at his office in Ankara.Almost all of this year’s portfolio consists of housing for middle and lower-income groups, according to Mr Turan. Building cheaper housing is core business for Toki, which was founded more than three decades ago but became a real driver of the Turkish economy after the ruling AK Party came to power in 2002.Mr Turan’s comments on the value of Toki’s activities provide a glimpse into its finances before the top state auditing body Sayistay produces an annual report on the agency. While the agency’s role in Turkey’s high-paced growth years is often praised by the government, political opponents have criticised its oversight of spending.Toki owns nearly half of the country’s biggest developer, Emlak Konut, and together they led a campaign to boost sales after a failed coup attempt in July hurt domestic economic activity. Lower down-payments and better mortgage rates encouraged homebuying worth about 3 billion Turkish lira (Dh3.67bn) in a month, Mr Turan said.Toki collected 425 million lira thanks to a programme that allows Toki customers to save 20 per cent if they repay all of their outstanding debt to the agency, Mr Turan said. The total debt repaid as part of the campaign that lasts until the end of September is expected to be between 800m and 1bn liras, he said.The agency will build 70,000 residential units to take a lead role in government plans to rebuild south-eastern cities including those damaged by last year’s urban fighting against Kurdish separatists. It will also build projects for the central bank, the banking regulator BDDK and the capital markets board SPK in Istanbul, with completion projected by early 2019, Mr Turan said.business@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Turkey to complete 64,000 affordable new homes this year worth .5bn<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Turkey’s government-backed housing agency Toki will build a record number of residential units worth US$2.5...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-26754","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6Xw","jetpack-related-posts":[{"id":9860,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/german-developer-presents-tanzania-as-alternative-to-investing-in-gulf-housing\/","url_meta":{"origin":26754,"position":0},"title":"German developer presents Tanzania as alternative to investing in Gulf housing","date":"April 3, 2016","format":false,"excerpt":"\r \r Amid a slowdown in the residential sector in the region, a German developer will this month promote its housing project in Tanzania to Arabian Gulf investors.The developer, CPS Live, will be making its pitch at the Arabian Travel Market, which runs from April 25 to 28 in Dubai.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":159833,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-home-sales-on-upwards-trajectory-to-4-year-high-agents-say\/","url_meta":{"origin":26754,"position":1},"title":"Hong Kong home sales on \u2018upwards trajectory\u2019 to 4-year high, agents say","date":"August 24, 2025","format":false,"excerpt":"\r Hong Kong\u2019s home sales are likely to hit a four-year high this year as buyers show an increasing willingness to commit to both new and existing residential units, according to agents. Residential transactions in the city are expected to rise 13 per cent to 64,000 this year, helped by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24887,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-agaoglu-hopes-for-turkish-property-market-recovery\/","url_meta":{"origin":26754,"position":2},"title":"Developer Agaoglu hopes for Turkish property market recovery","date":"September 4, 2016","format":false,"excerpt":"\r The developer behind the Istanbul International Financial Center hopes the battered Turkish property market will rebound next year despite a series of terror attacks and a recent coup attempt.During the first seven months of the year, the number of home sales to foreigners dropped to 10,535 from 12,475 during\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71713,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rosy-outlook-for-residential-market\/","url_meta":{"origin":26754,"position":3},"title":"Rosy outlook for residential market","date":"November 14, 2017","format":false,"excerpt":"\r The outlook for Singapore\u2019s housing market appears bright, according to an article written by Cushman & Wakefield Singapore\u2019s Research Head Christine Li that was posted on TODAYonline. One main factor fuelling this positive sentiment is the hot en bloc sector, where a total of 18 housing projects collectively worth\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116153,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-unveils-temporary-relief-measures-for-property-developers-individuals\/","url_meta":{"origin":26754,"position":4},"title":"Government unveils temporary relief measures for property developers, individuals","date":"May 8, 2020","format":false,"excerpt":"\r Singaporean married couples will now have a year instead of six months to sell their first property in order to get the ABSD remission for their second property.\u00a0 The Singapore government has rolled out temporary relief measures for individuals and property developers affected by disruptions to sales of housing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56872,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-developer-dar-al-arkan-appoints-former-damac-managing-director-el-chaar-as-chief-executive\/","url_meta":{"origin":26754,"position":5},"title":"Saudi developer Dar Al Arkan appoints former Damac managing director El Chaar as chief executive","date":"June 4, 2017","format":false,"excerpt":"\r Ziad El Chaar, the former managing director of Damac Properties, has been appointed as the chief executive of Riyadh-based property developer Dar Al Arkan, the Saudi company said on Sunday.Dar Al Arkan's board approved a proposal for Mr El Chaar to become chief executive last Thursday, effective immediately, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26754"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=26754"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26754\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=26754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=26754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=26754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}