Financial Position

TOKİ is a unique corporate entity with exclusive responsibilities related to housing and settlement issues in Türkiye in accordance with its organizational structure and legislation.

The Administration is attached to the Ministry of Environment, Urbanization and Climate Change pursuant to Decree Law No. 703 of 9 July 2018.

TOKİ is a non-profit public administration and it has no share capital. It cannot be declared bankrupt and its assets are immune from attachment.

The Administration is subject to strong state control and supervision. TOKİ's accounts are audited by the Court of Accounts (due to the Law No.6085, dated 03/12/2010)

TOKİ prepares corporate annual reports (income statements and balance sheets) by finalizing the legal ledgers it keeps "on balance sheet basis".

The receivable portfolio of the Administration consists of the receivables from the sales of the social housing projects, land sales, revenue share from the Revenue Sharing Projects developed for obtaining financial resources and the receivables from the housing loans.

Other income including items such as budget appropriation and levies on Turkish citizens travelling abroad, has reduced as a share of total revenue due to cuts in those items and increases in the housing units sold.

Under current legislation, TOKİ takes over lands with and/or without a price from the Treasury, public entities and government agencies and municipalities. The land portfolio formed in this framework is evaluated in the most optimal way in line with the mission of the Administration and housing projects are developed throughout our country on the land owned by the Administration.

Credit lines are also kept available for TOKİ with banks (either public or private) for funding needs that may arise in case of a possible liquidity problem.

TOKİ's expenditure is mainly directed towards developing land plots and constructing housing projects.

In line with the development of the regulatory environment, TOKİ has options for alternative funding mechanisms, including debt issuance through tailored financial vehicles. In the past, the Administration had contributed to the work for a regulation on the issuance of asset-backed debt securities of Capital Markets Board of Türkiye using its expertise drawn from its asset pool.