Imtilak Properties
29-05-2017

Deputy Prime Minister of the Republic of Turkey, Mr. Noureddine Ganchaeli, participated in the CEO Club meeting held in the context of economic growth and employment opportunities in the real estate sector.

He said that a very important development will take place in the real estate sector in the interim period.

People will be able to sell their real estate shares that belong to them from land, housing, shops and the like, also entering the market and offering their shares for sale, and said all citizens of the member countries of the Standing Committee for Trade and Economic Cooperation of the Organization of Islamic Cooperation will be able to enter and conduct commercial transactions in this financial market.

He added that this market does not pose any risk on sellers and buyers alike, and the transactions will be under the guarantee of the guarantors’ companies operating in this context, and there will be an intermediary bank to make the necessary remittances similar to the bank currently in Turkey, "Taqas Bank "He said.

Ganchaeli said that the requirement to transfer ownership of land registry in these transactions is subject to transfer of the necessary financial value in the first degree, and to transfer the ownership of the land registry in electronic form without having to go to the Directorate of Real Estate Records.

It will be the first of its kind in the world in the real estate sector, and the committee will work in this context to support countries that suffer from lack of infrastructure through the necessary technical means in addition to the establishment of structures and any of the 57 countries in the OIC Standing Committee for Trade and Economic Cooperation will have access to the Turkish real estate market with ease and purchase of real estate shares as desired.