Examination of real estate development and urban regeneration from the perspective of developing actors; Istanbul example

Living, working and entertainment spaces created in various sizes in cities, following the real estate and urban regeneration works are not only perceived as physical structures but accepted as a whole with their social and environmental aspects. Therefore, projected real estate and urban regeneration projects should not be built on short term basis or solely profit oriented, but developed with a sustainable road map on long term basis while serving the best interest of the city and city people. Looking at the real estate and urban regeneration projects realized in Istanbul since 2000, it is identified that these projects intensely take place in the locations where certain criteria are prioritized while this situation causes environmental, social and economical problems. The literature search of PhD theses on real estate development and urban regeneration subjects indicate that generally current problems of operating projects are identified and solutions to these problems are proposed. Within the scope of the thesis the research question is determined as "What is the perspective and decision making criteria of developing actors in the real estate and urban regeneration sector?". As per the research and literature analysis, it has been observed that, the missing part in the literature is sufficient academical study regarding the criteria which institutions such as real estate investors, developers, contractors, architectural offices and consultancy companies use for investment decisions. Analysing the real estate development and urban regeneration projects realized in Istanbul based on districts and quarters, it is seen that the most important criterion for the developing actors at the decision making phase of these operating or pipeline projects is the higher market value of locations to invest in. This thesis study completed in order to prove the hyphothesis includes supporting examples regarding various real estate and urban regeneration projects in Istanbul scale and the survey study addressing the developing actors. Key Words: Real estate development, urban regeneration, urban renewal, land development and applications, real estate developing actors.