A Chance From Slums Has Arised!

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Urban transformation studies started with the aim of renewing more than 6.5 million dwellings in Istanbul. Transformation is mainly concentrated in Istanbul's most valuable regions. The work that begins in this region affects both the region and the fate of the citizens living in those houses. If the citizen agrees with reliable company, he can get a new property worth 10 times more than his old house. One of the regions where the rights holders have the highest share is Fikirtepe. Work in the region that began its transformation 5 years ago has gained momentum in recent months. One who has a plot of land of 100 square meters in this region will have a property of 2 million liras at the end of the new project. In Yenisahra, neighboring to Ataşehir, the person who owns the same plot will have a property of 1-1.5 million liras, a property of 1 million liras in Bomonti, and a property of 1.6 million liras in Piyalepaşa.



Urban transformation studies are continuing in Bomonti, which has hosted luxury housing projects in recent months. While demolition work is being done in the area where the agreement is made in the region, life is going on in some houses beside the demolitions. Osman Yildirim, the chairman of the Board of Directors of Yıldırım Yapı Group, who projects the urban transformation project in the region, stated that the share of the landowners is 40 percent but that the title deed costs are 50 percent because of the contractors' satisfaction. 


Construction work has not yet started in the transformation process in Istanbul Yenisahra. The contractors and beneficiaries in the region are waiting for the Istanbul Metropolitan Municipality to prepare the development plans. Approximately 20 companies are named in the region which stands out with its proximity to Istanbul Financial Center and ease of transportation. The company executive in Yenisahra, who works on urban transformation, said that there is a 50-50% agreement between the rights holders and the construction companies. They have given the beneficiaries a one-time transfer of 2,000 liras, saying, "The monthly rental allowance ranging from 1000 liras to 1,500 liras is given. Project area of ​​100 square meters in the district will have 150 square meters of salable area. Thus, the person who transforms the risky structure will have a value of between 1 million and 1.5 million liras."


Piyalepaşa Real Estate, the company of Polat Holding, is doing the most extensive transformation work in Beyoğlu's Piyalepaşa region. Piyalepaşa Real Estate General Manager Kaan Yücel said that they had made an agreement with the rights holder of the district 260, "Now all the property has passed to us in the transformation area. 1 square meter, 40 cm in place had the right holders. The properties of those people who were not consensual were sold and received by the public. We have a share of 43 percent in the land. We propose a 110 square meter house with 100 square meters of space for a new project. This is a property of about 1.6 million at the end of the project. The company, which has been working for 12 years for the transformation of Piyalepaşa, plans to deliver the houses in 2018.

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