A research about the provision for land sales income-sharing model of TOKI

Hard competition conditions, emerged by the developments in construction sector day by day, steer the employers and contractors to the new alternatives. It has been an expectation to develop more profitable factors to the organization parties because of the identified agreement forms of production in classical technics have been ordinary. TOKİ has put into a new project in Turkey by the model of the provision for land sales income-sharing. Instead of directly selling the valuable lands, by bidding with the provision for land sales income-sharing model, it can produce equity capital to his body above the expertise rate of the real estate. The contractor can also develop profitable parameters in the model with more independent styles.In the model that is used as a financing style by TOKİ, from the preparation of the projects to the productions in the area, the contractor is responsible for the works and procedures that necessary to finish the work as mentioned in the agreement and paying the expenses. Income which is provided by the free part sales is shared between parties as in ratio that explained in the agreement. TOKİ brings the provision for sales price from the contractor in the date and ratio that is decided in the agreement notwithstanding to the condition of free part sales. There is not any monetary resource from TOKİ in any phase of the model. The contractor uses his own financial resources for all productions and necessary organizations. The contractor gets his share from the common income that is collected in the bank account according to the production level that he performed in the framework of agreement annex percentage rates. When the sales are not enough the contractor should go on to the production with his own equity capital.With the provision for the land sales income-sharing model, TOKİ simultaneously provides the continuity of so many applications, generally by assigning the production, management and organization responsibility and the risk of the system to the contractor with an optimized control mechanism.The aims of this thesis study are to analyze the provision for the land sales income-sharing model by investigating, to search the functionality in terms of the implementer parties, to assess the problems in application and to examine its performance in the Public Institutions on behalf of the TOKİ that applies the model as a resource developing method.In this study, literature review, case study and applied agreement analyses have been done. Three bidding documents examples which had been tendered with the provision for land sales income-sharing model have been examined and all reports and documents about these documents have been reviewed. Interviews have been done with the managers of the model and implementers in the contractor party. Model?s source TOKİ Bidding By-laws and specifications and agreements, used in application, have been investigated in detail.Key Words: Income-Sharing, revenue sharing, TOKİ, provision for the land, Emlak Konut GYO.