What is the government guarantee in real estate projects?
The government guarantee is divided into three sections:
- The full government guarantee, which are the projects that the Turkish government is fully developing through its shareholding companies, as they are usually established in new and radical areas, which are usually agricultural lands owned by the state
- The second section of the government guarantee is the projects that are guaranteed The Turkish government, but in partnership with private companies, and the government here is the owner of the land, while the company or real estate developer is responsible for the construction operations.
- As for the third section of the government guarantee, the Turkish government is the owner of the land and also a partner in the construction operations, while the private or developer company helps in establishing The project is in return for a certain share of the profits, and one of the most important features of the government guarantee in housing projects is the delivery on time and the non-manipulation of contracts, in addition to ensuring the presence of basic vital facilities in the vicinity of the project, such as the presence of public transportation, hospitals, and others.