Regulatory Alerts2022-01-10
Added · Updated
Communiqué On Real Estate Certificates
The Capital Markets Board of Turkey issued Communiqué VII-128.2 to establish the regulatory framework for the issuance and redemption of real estate certificates used to finance residential and commercial projects. The document defines key terms, sets eligibility criteria for issuers, and mandates the use of appraisal, feasibility, and construction progress reports to ensure project viability and fund transparency. It further outlines the obligations for transferring title or selling units to investors, including provisions for penalties, insurance, and independent auditing to protect certificate holders.
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