Real estate development in Turkey involves multiple regulatory steps from land acquisition to occupancy permit. Foreign developers should engage local legal expertise.
Land Acquisition and Zoning
TAPU due diligence essential.
Imar plan zoning verification.
Encumbrance and litigation check.
Construction Contracts
FIDIC-based contracts adapted for Turkey.
Performance bonds and retention typical.
Force majeure provisions during pandemics.
Financing
Bank financing with mortgage.
Land-for-flat (kat karşılığı) common.
REIT structures for institutional projects.
Frequently Asked Questions
Can foreigner be sole developer?
Yes, no restriction on foreign developer ownership.
What is land-for-flat agreement?
Landowner contributes land, developer builds, both share completed units.