The GYF will eliminate that problem in Alanya
The representative of the construction sector, Civil Engineer and businessperson Aycan Fenercioğlu, spoke about the project aimed at accelerating housing supply and urban transformation through the Real Estate Investment Fund (REIF) brought to the final stage by the Ministry of Treasury and Finance, stating, "This project will open the way for the construction sector."
Minister of Treasury and Finance Mehmet Şimşek provided information on the new initiative aimed at increasing urban transformation and housing supply. Minister Şimşek stated that the regulation for the establishment of the Project Real Estate Investment Fund (Project REIF), prepared by the Capital Markets Board (SPK), has reached its final stage. He said, "With the regulation to be made by the Board, real estate investment funds will be enabled to invest in real estate projects. With the regulation, the portfolios of these funds will be made suitable, and changes in type will be made. As housing supply increases, upward market pressure on housing prices will decrease, thus making housing more accessible for every segment of society."
THE MINISTRY WILL REACH OUT TO THE SECTOR
Especially considering the earthquakes and the fact that the country is in an earthquake zone, the importance of every aspect of urban transformation and the deadlock of the construction sector have been highlighted. Şimşek pointed out that before the new regulation, real estate investment funds could not invest in these projects and could not undertake construction works. He stated that with the regulation by the SPK, these restrictions will be lifted.
URBAN TRANSFORMATION WILL GAIN SPEED
With the Urban Transformation Law officially coming into force, risky buildings in Alanya are being demolished to contribute to urban transformation. With the REIF, these transformations will gain even more speed, giving a breather to the construction sector. In Alanya, according to the Urban Transformation Law, while 415 buildings have been demolished in the last 5 years to contribute to urban transformation, 32 buildings are on the demolition list. Fenercioğlu, who provided information to the Alanya Posta Media team on the subject, stated, "Real Estate Investment Funds will greatly open the way for projects that cannot continue due to lack of investment."
THE CONSTRUCTION SECTOR WILL BE RESCUED FROM THE DEADLOCK
Continuing his statement, Fenercioğlu said, "When these funds announced by our Ministry are opened and investments begin, both access to housing and urban transformation will accelerate. Because in this regard, the funds will provide significant investment and financing. I believe that in the long run, the stagnant construction sector will make a significant contribution in this way. Currently, there are approximately 144 real estate investment funds in Turkey. This decision will contribute to the development of investment funds." - Alkın BİRİCİK
