Developer and project due diligence in Türkiye
Due diligence on a new development should separate the legal company, the land, the construction authority and the unit being sold. A strong brand, sales office or completed show apartment does not prove that the contracting company owns the land, has authority to sell the chosen unit, holds the required building permissions or can deliver on the promised date. The buyer’s job is to connect each commercial claim to an official record and then make sure the contract reflects the verified position.
Identify the exact legal counterparty
Start with the company name written in the reservation and sale documents. The Ministry of Trade’s MERSİS system stores core company and commercial-register information and allows registered users to query basic company data. Check the legal name, registration details and current representation structure. A project can be marketed under a brand that differs from the company signing the contract. If the landowner, developer, contractor and sales company are different entities, map their roles clearly. Money should not be sent to an entity merely because it shares the project logo.
Verify the contractor’s official status
The Ministry of Environment’s professional-services guidance explains that building contractors are subject to a contractor authorisation-number system and that the number is used in building-permit and occupancy documentation. Check the contractor identified in the official building file and compare it with the entity promoted to the buyer. This does not prove financial strength or quality, but it helps establish who formally undertook construction. If the contractor or authorised entity has changed, obtain the official and contractual documentation explaining the change.
Confirm the land and the developer’s right to build and sell
Use current TKGM evidence to identify the parcel, registered owner and relevant mortgages, attachments, annotations or other rights. If the developer is not the landowner, determine the legal structure that allows the project and sale: for example, a development agreement, construction-for-land-share arrangement or another registered/contractual right. Do not assume that possession of a building permit automatically gives a sales company title to every future apartment. The selected unit should be traceable through the approved project and the condominium or construction-servitude structure.
Review the planning and building file
Check the applicable zoning position, Yapı Ruhsatı, approved architectural project and the current construction stage. For a project under construction, verify that the unit marketed to the buyer appears in the approved project with the expected block, floor and independent-unit information. If sales material shows an amenity, additional floor, terrace, commercial space or layout that differs from the approved file, obtain the amendment before treating the feature as part of the investment. At completion, the Yapı Kullanma İzin Belgesi and transition to the appropriate condominium status become separate closing and handover checks.
Investigate delivery history without turning reputation into proof
Past projects can provide useful evidence, but only when they are identifiable and connected to the legal company being assessed. For each reference project, compare announced or contracted delivery dates with actual handover and occupancy, check whether condominium documentation was completed, and look at how common-area and defect issues were handled after delivery. A successful project five years ago does not eliminate the need to inspect the land, permits, financing structure and contract of the current project.
Read the contract for measurable obligations
The contract should identify the legal seller, exact unit, price, payment schedule, area definition, specifications, delivery condition, target date, delay consequences, defect procedure and cancellation/refund rights. If the buyer is paying before title transfer, the contract should explain what protects those payments and what happens if construction stops, a permit problem arises or the promised unit changes. Technical specifications and plans relied on by the buyer should be attached or referenced clearly. Marketing phrases such as “premium materials” or “guaranteed appreciation” are not substitutes for measurable contractual obligations.
Analyse financial and concentration risk
A project can be legally documented yet still carry commercial risk. Assess how much of the price is paid before completion, whether the buyer depends on future financing, whether construction progress is consistent with the payment schedule and whether the project has a large volume of competing unsold units. For investment purchases, model realistic rent, aidat, vacancy and resale competition rather than using a developer’s headline yield. If the investment depends on a future metro line or district transformation, keep that assumption separate from the verified present position.
Build an evidence file before committing
A professional project review should leave a dated file containing company and representation evidence, current land-registry information, key permits and approved-project references, the unit identity, the signed specification, contract, payment beneficiary and the source of each material claim. Any unresolved issue should be converted into a specific condition or reason not to proceed. The purpose of developer due diligence is not to decide whether the company “looks trustworthy”; it is to establish whether the legal entity, land, project approvals, unit, money and delivery obligations form one coherent and enforceable transaction.
2026 investment decision update — Developer and Real Estate Project Due Diligence
Developer due diligence should separate four things: the contracting company, land owner, project/construction authority and the unit being sold. Brand strength cannot compensate for a missing critical document. Reconcile the company through MERSİS/commercial records, then reconcile the asset, restrictions and representation against the land registry and contract.
The Ministry of Trade describes MERSİS as the central system through which company registrations, amendments and deletions are processed and registrable commercial-record information is stored electronically. Developer due diligence should therefore start with the legal entity and registry record, not the brand name alone.
TKGM’s Web Tapu supports electronic applications for sale, mortgage and other land-registry transactions. Investment due diligence should reconcile the registered owner, independent unit, restrictions and representation data to the official record rather than treating a listing or marketing contract as a substitute.
Formula / decision check: Critical-document completion = verified mandatory evidence items / mandatory evidence items identified for the transaction; any unresolved land/title/authority item is a stop condition, not a score offset.