The Turkish Ministry of Environment approves the Istanbul Canal Project:
Murat Kurum, the Turkish minister, has stated that the ministry team had approved the construction of the new Istanbul Canal, he tweeted “We have approved the development plan of Istanbul Canal and we have put it under general consulting”, he continued “We will take rapid steps to enrich our city with the Istanbul Canal”.
Kanal İstanbul Projesi için imar planlarını onayladık ve askıya çıkardık. Bu çerçevede adımlarımızı hızlı bir şekilde atarak Kanal İstanbul’u ülkemize, aziz şehrimize kazandıracağız. pic.twitter.com/ksMvqrBq4A
— Murat KURUM (@murat_kurum) March 27, 2021
The Istanbul Canal is the biggest dream for the Turkish Government and one of the things to achieve in 2023 that the President talks about continuously.
Before we talk about the new canal, we have to refer to that the Bosphorus, which connects the Black Sea and the Marmara Sea, is an international sea passage and Turkey has no right to benefit from it until the Treaty of Lausanne ends in 2023.
Here is a quick tour of this project that will be an economic and architectural revolution and it will attract the world’s attention.
- It will connect the Black Sea and the Marmara Sea, and it will be parallel to the Bosphorus. The canal will go from Kücükçekmece lake with a length of 6149 meters. Then, counting the distance that takes in Sazlidir Dam. Then about 6061vmeters in Başakşehir. Finally, the longest part goes 27383 through the Arnavutköy area, so the canal will be 40-45 km long in total.
- An entire city will be constructed along the new Istanbul Canal, which will draw the world’s attention to it due to its development and modernity. According to the plan published by the Turkish government, two cities will be constructed horizontally along the canal, and the heights of these buildings will be according to the scheme from 3 to 5 floors, with the presence of Services and complexes built in a modern way, from parks and water cities to homes and shops.
- Apartment complexes and stores will be constructed on 39 million square meters and all of it will be in the Arnavutköy area.
- A huge logistics center and port with an area of 2 million square meters will be constructed at the entrance to the canal from the Black Seaside. This center will be one of the largest logistical centers in Turkey and will be linked to the main Istanbul port on the Beylikdüzü coast.
- A huge technology center will be established in the Taya Kaden area with an area of 2.2 million square meters. One of its departments will be devoted to tourism services. Conference and exhibition halls will be constructed in the same center too.
It is indicated that the center will be in a very close area to Istanbul International Airport to make it more accessible.
- 8 bridges and many aqua cities will be constructed all the way through Istanbul Canal. Two artificial islands will be built too.
Real Estate Tips from Panorama Property:
First: Real Estate Prices:
Real estate prices will rise as soon as the canal project is started, and for those who do not know, the prices of real estate overlooking the Bosphorus are the most expensive and the most in-demand in the Turkish real estate market. The new Istanbul Canal will provide similar views to the ones in the Bosphorus. Therefore, we noticed that investors have been rushing to buy in nearby areas recently because they know that real estate prices will increase at least double once the Istanbul Canal Project is finished.
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Second: Agricultural Land:
As we have mentioned earlier, the new canal will extend for a long distance, and it will pass from several areas, some of which are agricultural lands on which real estate and commercial projects will be established, and the most important of these agricultural areas is Arnavutköy, which lies between the new Istanbul airport and the new Istanbul Canal, any piece of land located between these two huge projects is definitely a successful investment project.
Third: Job Opportunities:
Istanbul will provide thousands of job opportunities and it will be a tourist place. With that being said, we can now imagine the rental income out in that area.
In conclusion, Panorama Property advises investing in that area while the prices are low because they will increase as soon as the Government starts the construction.
Resources: Turk Press, Kanal Istanbul – Emlak Kulesi.