My First Home, My First Business Project

President of Republik of Turkey Recep Tayyip Erdoğan delivered a speech at the groundbreaking ceremony of “My First Home, My First Business Project,” the largest social housing initiative of the Republican Era.

“NUMBER OF RESIDENCES BUILT AS PART OF URBAN TRANSFORMATION REACHED 3 MILLION”

Noting that the Housing Development Administration (TOKI) built over 1.1 million residences, and 26 thousand social facilities in the past 20 years, President Erdoğan said: “The number of residences built as part of urban transformation has reached 3 million.”

President Erdoğan also underlined that 13.5 million of the 28.5 million residences in Türkiye were built in the past 20 years.

Stating that nearly 8 million citizens applied for the social housing project, which includes 500 thousand new homes, 50 thousand work places and 1 million plots of land, President Erdoğan said that the project, which has an investment value of TL900 billion, will have an economic effect amounting to TL2 trillion.

President Erdoğan also announced that the first phase of the project will be completed in 2 years and the rest by 2028.