What is the Real Estate Certificate?
Developed within the government’s “2016 Action Plan”, the “Real Estate Certificate Application” allows the purchase of shares on a square meter basis from state-owned housing projects. I mean, to be a shareholder in real estates through a kind of securities.
What Is Application?
Real estate projects will provide substantial funding and urban transformation projects are aimed at accelerating and opening the process.
Where Are The Real Estate Certificate Provıded To Owners?
Citizens with real estate certificates may have an apartment according to the share ratio when the project is completed if there are sufficient certificates in their hands.
Who Makes Certificates?
Capital Markets Board Chairman Vahdettin Ertas said that construction companies that received the necessary permission from the CMB could issue certificates. Certificates to be sold through banks and brokerage houses may also be sold at the stock exchange.
How To Meet Financial Finance?
10 percent of the funds obtained from the issuance will be transfered directly to the issuer before construction begins and 80 percent will be transferred to the issuer by the authorized institution at the rates determined in the construction progress reports. The remaining 10 percent will be issued to the issuer at maturity. Thus, the completion of the project will be supported.
What Happens If The Project Completes?
Construction completion reports will be prepared by construction supervision agencies in order to protect the rights of real estate certificate investors.
Can The Certificates Want To Return?
Those who want to convert the certificate of residence instead of the residence at the end of the certificate date can get back by the issuer over the average of the quoted prices of the three months before the due date.
When And Where Do The Fırst Project Will Be Realized?
The first real estate certificate will be exported to TOKI and Makro Construction’s revenue share partnership model and to the Park Mavera 3 Project, which is in Istanbul Basaksehir.