Independent Ankara MP Beker submits bill for unfinished construction projects

Independent Ankara MP Adnan Beker submitted a bill to Turkey’s parliament requiring contractors to post a completion bond or obtain building completion insurance before receiving a construction permit, aimed at protecting buyers from abandoned projects. Under the proposal, if a contractor defaults, the bond or insurance payout would transfer to a firm that finishes the construction. The measure targets a persistent source of consumer losses in Turkey’s housing market, where stalled developments have left buyers without homes or refunds. Lawmakers will now debate whether to fold the requirement into permitting rules, with the bill’s progress through committee the next signal to watch.