A real estate project after the “Spanish model” will be realized in Turkey, upon the request of Finance Minister Kemal Unakıtan, who did extensive research in Spain.
The Ministry of Finance and the Mass Housing Administration (TOKİ) will undertake the project together. A number of villas and holiday resorts will be constructed for foreign citizens on immovable property, according to the protocol signed by Unakıtan and TOKİ Chairman Erdoğan Bayraktar. The National Real Estate Head Office handed this immovable property over to TOKİ free of charge through the “income distribution in return for land” method.
The project includes coastline areas from Çanakkale, in northwestern Turkey, to Mersin, in the south, and districts with thermal baths. TOKİ will start to market the villas abroad when construction begins. The villas will be sold as direct property or timeshares and owners will not be allowed to rent them out. Sales revenue from these villas will be given to TOKİ, together with the finance share of 50 percent, which will enter the TOKİ account within 15 days.
The villa cities and the holiday resorts to be constructed in Antalya, Muğla, Aydın, Fethiye and Mersin on the Turkish Riviera will be a few storeys tall. The project includes the construction of tennis and golf courts, green spaces, walking paths, medical centers, shopping centers and other social facilities. Titleholders will be offered the 5-star hotel included in the project, the management of which will rest in the private sector.
http://www.turkishdailynews.com.tr/article.php?enewsid=99325
