The Housing Development Administration of Turkey (TOKI) has launched a new housing project that will enable Turkish citizens living abroad to become homeowners in Istanbul with a gradual payment method, it said in a press release Wednesday.

The housing body will build a total of 420 residences for Turks living abroad in the Sancaktepe district on the metropolis’ Anatolian side.

TOKI previously kicked off various projects for low-income citizens who paid for the houses in a gradual period like paying rent.

It has so far built around 1.1 million houses for more than 5 million citizens.

Continuing with determination to initiate new projects in line with President Recep Tayyip Erdoğan's aim of "carrying out these projects until there is not a single low-income citizen left without a home," TOKI now has expanded its project network.

Acting with a vision that embraces all segments of society, from workers to civil servants or shopkeepers, TOKI will implement the Sancaktepe project with a horizontal architectural understanding.

With the project, a new living space will be created with its social areas, where the neighborhood culture will be sustained.

The tender for the new living space, which consists of 420 residences, whose project design continues, will be held in a short time.