Turkey’s government will use as much as 90 percent of proceeds from state-land sales to rebuild disaster areas and reconstruct apartments to withstand earthquakes, Finance Minister Mehmet Simsek said.
Turkey may raise 14.8 billion liras ($8.3 billion) if all buyers pay the money upfront, qualifying for a 20 percent discount, Simsek said. The sale of former forest land will legalize buildings that were illegally constructed there.
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