It has been officially announced that the KIPTAŞ construction company will provide Istanbul residents with at least 50,000 new residential units as part of an urban transformation programme that has affected the entire country or 81 provinces.
KIPTAŞ CEO Ali Kurt said that these apartments would be located in the Kartal, Sarıyer and Beykoz districts. He stated that it is essential to reconstruct buildings for Istanbul's future. Moreover, the developer continues to build its other projects.
Nevertheless, Mr Kurt stressed that the population's successful move to new, secure apartments from old housing is challenging without banks' assistance, as they are required to alleviate citizens of overwhelming debt given that not everyone has access to government-supported resettlement programmes from dilapidated housing.
The authorities promised that there would be no emergency apartments left in Istanbul, and three million residential units have been renovated and enhanced in the last twenty years.