Social housing project
The social housing program of TOKI Company is targeting the low and middle-income group that are not able to own a housing unit, particularly under the current market conditions. Similarly, when considering the distribution of the housing projects that are realized by the company, about 15% consist of the fund raising method of revenue sharing while the rest of the percentage are the social housing projects (TOKI Housing Programs).
On the other hand, the project that is targeting the low income earning people have increased the monthly instalments depending on the increasing rate of the public wage index sector, consumer index, and the producer price index such as the system of the single variable index. Under the social housing project, loan maturities for repayments of TOKI Company range between eight to twenty-five years in average subject to the financial abilities of the targeted groups. For instance, the realized social housing projects that consist of the narrow and middle-income individuals is about 40.55%. That is 23.01% of the project is for the low-income people. Additionally, the transformation of the urban projects are increasing significantly with a ratio of about 15%.
International project
The TOKI Company had received the HABITAT Scroll of HONOR for the provision of the housing credits to several people of both small and medium incomes for the implementation of the successful Earthquake Reconstruction projects (TOKI International Experience). Consequently, this real estate company has performed both housing and urbanization activities under the influence of the flow of data from the global establishments. Therefore, after the second HABITAT Conference, TOKI have been accepted as an administrator that can now act as a coordinator of all officials from private facilities. The studies are conducted in agreement with the decisions of the HABITAT. Thereby, it has been showing all projects in this respect.
The construction of oversea projects are financed via the post-disaster donations as well as the humanitarian reliefs. However, the administrations are performing their duties by following protocols concerning construction, whereas the implementation unit of the project is in line with the official assignments. Therefore, in this setting, the implementation of TOKI are present in Indonesia, Somalia, Sri Lanka, and Pakistan. For example in Somalia, the construction of the hospital, a nursing college, and a worshiping place for over two thousand individuals in both enclosed and open areas has been completed. The personnel from TOKI monitored the implementation process through the short-term engagements during the work.
Assumptions
The administration of the projects through the method of preliminary demand collection limits any investment idleness that may be fundamental for the projects towards the settlements with a population that is below 40,000. This collection system is organized by the governor, and the municipal. The project is to put into effect when there is adequacy to their applications of one hundred houses or more.
The prevailing demand for the properties of TOKI is more than its supply. Therefore, every person who does not own a residential is obligated to apply for the social housing. Consequently, workers, as well as the civil servants, are the most beneficiaries from these houses. As a result of high demand, the rentals are sold via lotteries under supervision of the public legal officer or attorney. Since the property rights are under TOKI until debts are cleared, the payment of the projects are guaranteed where the company acts as the guarantor for the project repayments.
Recommendations
The social housing project is appropriate since TOKI models are not operating as competitive entity in the housing sector in Turkey. Similarly, the project is ideal because it plays a guiding, supervising, and educative responsibilities. Therefore, it undertakes a key role in production priority demands and solvency of the needy persons. Additionally, more than 900,000 people have benefited either directly or indirectly after involving in the social housing of TOKI. Similarly, these beneficiaries can make down payments from the start of the constructions after the tender and at a certain point that is determined by the administration. However, there is no collection on the down payment projects from the poor people that are allowed to make monthly payments as per the single index reimbursement plan.
The vision of TOKI is to realize one million housing units by the end of 2023. Therefore, in this situation, the administration have the housing production undertakings throughout Turkey in a view of regenerating urban and slum transformation projects in collaboration with the municipalities, and social houses for both middle and low income group. It also establishes settlement units in the medium scale provinces, boost educational facilities, and highlighting the production of lands with substructures.
Regarding the framework of Vision 2023, the main priority of TOKI is based on the production of housing with increased qualifications. Consequently, horizontal architecture is preferred instead of the vertical one. Similarly, the company shall care for the construction of life spaces in compatibility with architecture, values, and geographical uniqueness of the city. That is TOKI shall champion for the urban transformation regarding the social housing units.
Works cited
"TOKİ > Housing Programs". Toki.gov.tr. N.p., 2016. Web. 28 Aug. 2016. <https://www.toki.gov.tr/en/housing-programs.html>.
"TOKİ > International Experience". Toki.gov.tr. N.p., 2016. Web. 28 Aug. 2016. <https://www.toki.gov.tr/en/international-experience.html>.
