In parallel with economic and social change, construction firms have launched new initiatives. Despite the slowdown in the sector in connection with the upcoming elections, the fate of real estate seems to be bright in the long run.

To this end, big players of the construction industry, including the Housing Development Administration of Turkey (TOKİ) and KİPTAŞ, a housing company with a special emphasis on social projects, are implementing new projects; however, there is a growing tendency towards houses with green spaces instead of luxury residences, suggesting that construction firms are able to make large profits out of social projects.

KİPTAŞ, which has built 19,000 houses for low-income families, has set as its new goal the construction of 50,000 such units by the end of 2007. KİPTAŞ announced that all residences to be constructed in 2007 will be reserved for low-income households. Likewise, TOKİ will embark on its Tuzla and Hadımköy projects. The administration is still working on about 100 projects, including over 200 apartments and 30 villa and luxury houses.

Meritlife Bulvar, a massive housing project under way in Ataşehir, has been constructed in partnership with Dekon Construction. The project involves four blocks, two of which are 14 floors and the two others are 15. The starting unit price at Meritlife Bulvar is YTL 215,000 and it goes up to YTL 315,000. Under the project, which features a loan agreement with Finansbank, payments may be made in 36 installments with no interest.

Units at Hillpark Evleri are sold at prices starting from $210,000. The 298 apartments will be handed over to owners in 2008. The Hillpark project involves 13 blocks and 298 apartments being constructed according to four models. Regular apartments are 2+1, 3+1 and 4+1 rooms, whereas the terraced duplex houses have five rooms and one main living room. 2+1 apartments are constructed in two types: 145 and 160 square meters. While 3+1 units are 174 square meters, 4+1 apartments range from 191 to 196. The size of duplex houses is 270 square meters.

The F2 Evleri project to be implemented in Akfırat, which has become a favorite site for investors and settlers following the Formula 1 car races, comprises a total of 314 units, of which 192 are duplex apartments and 122 triplex twin villas. F2 Evleri houses are being constructed by the CE Construction Company. The project stands out from others by its large green area. Only 10 percent of the total land of about 75 acres is used as a construction site while the rest is reserved for amenities, recreational facilities and parks.

The town of Mimarsinan of Büyükçekmece has virtually turned into a construction site following the commencement of 20 projects that involve about 8,000 apartments. The $500 million venture includes 11 projects by Batıköy Construction, Kent Plus by Emay Construction, Rose Marine by Gülsan Construction and Mimarsinan by KİPTAŞ. The construction of 8,000 residences in other 20 projects is still underway. With the introduction of the new projects, the population size in Mimaroba, Ekinoba and Sinanoba will increase from 120,000 to 250,000 in five years.