IMF Committee visits TOKİ for the first time
Posted by meb at October 30th, 2008
Representatives of the International Monetary Fund met with Turkey’s Mass Housing Administration, or TOKİ, for the first time Monday, to find out the challenges faced by Turkey’s housing industry.
The IMF committee, which included Rachel Van Elkan, who will become IMF chief to Turkey, and IMF representative Davide Lombardo, met withTOKİ chief Erdoğan Bayraktar and other TOKİ officers for 1.5 hours.
“Does Turkey confront problems in the financing of the houses?” asked the IMF committee during the meeting. They also wanted to know whether the provision of mass housing could provide a model for other countries.
The IMF committee was informed about the institutional structure and major activities of TOKİ, while TOKİ officers gave a visual presentation on the administration’s areas of operation.
TOKİ has handed over major activities of Emlak Bank other than those involved in the banking sector. Afterwards, legal problems on the bank’s lands located in Ataşehir, Ataköy and Bahçeşehir were settled. TOKİ has received noteworthy amount of revenue from this lands, was the answer given by TOKİ officers concerning the budget and financing of the administration.
In addition, TOKİ has carried out extremely lucrative projects in İzmir’s Mavişehir district, Ankara’s Eryaman district and Istanbul’s Kayabaşı district. On the other hand, they have bought and made use of the idle lands owned by public institutions. The majority of TOKİ’s revenue comes from these sources, TOKİ officers informed the IMF committee.
Moreover, TOKİ never sells these houses at a loss. They earn money from these projects as well, officers said.
source: Turkish Daily News
Related posts:
