The municipality's trump card in the housing market.
Why was the World Cities Day award given to Istanbul? 5 years after the implementation of the dual-purpose policy in the worn and dangerous neighborhoods of the city, the Istanbul Municipality was able to receive the World Cities Day Award held by China in Shanghai, due to its "success" in not repeating the wrong practice of mayors around the world. In 2021, a program called "Renovate Istanbul" was launched in Istanbul. This project was intended to "renovate and secure" buildings at high risk from earthquakes, however, the ultimate goal was not to "demolish dilapidated buildings and rebuild", but rather "adequate access of old residents to affordable housing during the renewal" was defined as the main mission of the program. In this plan, what the residents like is the basis for renewal, not what the municipality decided. Linking the city's issue to the housing market issue by the Istanbul Municipality is a trump card for this Turkish institution to win the Shanghai City Award. Expecting the housing market more details.