The largest residential project in Turkey

The Turkish President announced the largest housing project in the history of Turkey, and you will find in this article all the details about this largest project in the Turkish state.

In the coming years, Turkey will witness the opening of the largest housing project in the history of the Turkish state and it will be implemented by the Housing Corporation “Toki”, which is expected to be completed after 5 years, starting from the beginning of next year. It is planned that the project will contain 500 thousand housing and 250 thousand plots of land ranging in size from 300 to 500 meters, which is fully equipped with infrastructure, in addition to 50 thousand workplaces in 81 Turkish provinces, with a total value of 362 billion Turkish liras.

The main reason for adopting this project is to support the next young generation to marry, in addition to providing investment opportunities for people with low incomes and securing housing for the families of martyrs and disabled people in Turkey, in addition to providing job opportunities for an estimated 100 workers, meaning that the project will target a total of 1.5 million people in the Turkish states.

As for the work plan, the first phase will start, during which it is planned to complete the implementation of 250,000 apartments in Turkey, 100,000 habitable lands, and 10,000 workplaces. This phase will be launched on September 13 and will last for two years.

The residential project will increase the demand for the real estate market in Turkey:

Expectations, according to many workers and specialists in the field of real estate in Turkey and several real estate agents in the country, indicate the enormous positive effects that this project will have on the country, as it is a major turning point in the field of real estate development and investment in Turkey, and will certainly lead to an increase in The volume of demand on the real estate market and to attract more investors in Turkey, but this project will not lead to a decrease in real estate prices and will not lead to an increase in them or to any negative impact on sales in general.

The expectations of the Central Bank indicate that the price of a square meter of housing can reach about 12 thousand Turkish liras, and this leads to an increase in the prices of apartments in Turkey at a rate of 145.5% within one year.