Here are the details of the "Half Off from Us" campaign!

A campaign called "Half is Ours" was launched to accelerate urban transformation in Istanbul and create safe residential areas. The campaign, which covers all 39 districts of Istanbul, is coordinated by the General Directorate of Marmara Urban Transformation under the Ministry of Environment, Urbanization, and Climate Change. During the first application period from April 26 to June 2, 2023, applications were collected for 106,225 buildings and 1,225,063 independent units through e-Government. On August 9, the new phase of the campaign was launched, and the Minister of Environment, Urbanization, and Climate Change, Murat Kurum, announced that applications would continue without any time restrictions.

On October 11, Minister Kurum announced another step, stating that if full consensus is achieved in large area transformations, the Ministry could intervene. So far, with a support of 2.4 billion TL in the "Half is Ours" campaign, grants, loans, and evacuation support payments have been initiated for 2,116 independent units in 213 buildings.

FIRST METHOD: TRANSFORMATION WITH CONTRACTOR COMPANY

Within the scope of the campaign, the Ministry provides a grant of 700,000 TL and a loan of 700,000 TL for one residence of the property owner, and a loan of 1,400,000 TL for each additional residence. For a shop owned by the property owner, a grant of 350,000 TL and a loan of 350,000 TL is provided, while a loan of 700,000 TL is available for each additional shop. In this way, citizens benefiting from the Ministry's financial support of 1.5 million TL for each residence can have their homes rebuilt with contractor companies.

SECOND METHOD: TRANSFORMATION IN LARGE AREAS WITH TOKI AND EMLAK KONUT

In large area transformations, support is provided to citizens in cooperation with the Urban Transformation Directorate, TOKI, and Emlak Konut. In this case, citizens can use the 700,000 TL grant support of the Half is Ours campaign. The construction is undertaken by TOKI or Emlak Konut. The grant amount is deducted from the building cost, and the remaining debt is also installment paid with long-term favorable payment conditions.

MINISTRY'S 'HALF IS OURS' SHARING

The Ministry of Environment, Urbanization, and Climate Change answered questions about the campaign after the latest updates. The Ministry shared an animated video of the campaign with the message, "Everything you want to know about our Half is Ours campaign, which accelerates urban transformation in Istanbul and provides our citizens with safe housing, is here" on its social media account. The Ministry provided the following answers regarding the 'Half is Ours' campaign for Istanbul in 15 questions:

1-Who can benefit?

All owners of risky buildings in the 39 districts of Istanbul can benefit from the campaign.

2-What are the project prerequisites?

The new building (excluding parking and shelters) must not exceed one and a half times the size of the old building.

3-How can I find out if my home/business is risky?

The risk status is determined by having a core sample tested by licensed organizations affiliated with the Ministry.

4-How can I apply for Half is Ours?

No e-Government application is required. After establishing the condominium, the property owner applies to the district municipality to have their ownership determined. On the appointment date set by the Ministry, the property owner signs the grant commitment and loan agreement.

5-Does TOKI and Emlak Konut provide construction support?

In large area transformations instead of building, if full consensus is achieved, support is provided in cooperation with the Urban Transformation Directorate, TOKI, and Emlak Konut.

6-What facilities are provided in large area transformations?

A grant of 700,000 TL is provided, and construction support is also given with TOKI or Emlak Konut.

7-How is repayment made in area-based transformations?

The grant amount is deducted from the building cost, and the remaining debt is paid in installments with long-term favorable payment conditions.

8-How much support is provided for each residence/business in transformation with a contractor company?

A grant of 700,000 TL and a loan of 700,000 TL is provided for one residence of the property owner, and a loan of 1,400,000 TL for each additional residence. A grant of 350,000 TL and a loan of 350,000 TL is provided for one shop of the property owner, and a loan of 700,000 TL for each additional shop.

9-Is the payment made to the property owner or the contractor?

In building-based transformations, payments are made to the contractor on behalf of the property owners.

10-When and how is the payment made?

Payments are made at 30% when the work starts, 30% at the completion of the load-bearing system, 30% at the plaster stage, and 10% when the building usage permit is obtained.

11-When do loan repayments start?

Repayments start 2 years after obtaining the building permit. A term of up to 10 years is applied. No interest is applied in the first year of payment. In the following years, an update is made at half the rate of the Consumer Price Index (CPI).

12-How much is the evacuation/moving support?

The evacuation support is paid as a one-time payment of 100,000 TL.

13-Can tenants also benefit from evacuation support?

If the tenant is living in the apartment/business, it is paid to the tenant; otherwise, it is paid to the landlord.

14-Will there be a loss of rights when building a parking lot and shelter?

Parking and shelter areas are excluded from the construction area square meters.

15-Is there an income requirement for the loan?

No income or credit score is considered when granting loans to property owners.