This is how the new Istanbul Canal will change the face of real estate investment in Turkey
"On the outskirts of the Istanbul Canal, it will be an exceptional city, a huge and different city, with a capacity of approximately 500,000 people," says Turkish Minister of Environment and Urban Planning Murat Kurum.
In this sentence, Kurum summarizes Turkey's upcoming economic view and how the government plans and relies a lot on the Istanbul Canal or the century's project as it is called by the Turks as one of the giant projects besides the third Istanbul Airport, through which Ankara aims to increase the country's gross domestic product to two trillion dollars by The 100th anniversary of the Republic’s declaration in 2023, in addition to revolutionizing the real estate sector with the implementation of huge housing projects that strongly attract Turkish and foreign investors during the next ten years.
What is the Istanbul Canal, and how will it achieve the goals of the Turkish government during the next stage?
Istanbul channel in the language of numbers
One of the most important infrastructure projects that will relieve the great pressure from the famous Bosporus Strait is the Istanbul water canal project, which connects the Black Sea to the Sea of Marmara and consequently the Aegean Sea and the Mediterranean Sea.
The foundation stone of the Istanbul Canal project was laid in 2013, with works to be completed and fully delivered in 2023, at a financial cost of 15 billion USD.
The width of the canal is 150 meters "490 feet" on the surface and 120 meters "390 feet" at the bottom, while the depth of the Istanbul canal reaches 25 meters as it makes its way from Kucukcekmece Lake and Sazlidere Dam to the east of Lake Turkus to the Black Sea.
The new waterway will allow the Istanbul Canal for a length of 45-50 km (28-31 miles) and with the previously mentioned dimensions, it will allow the largest ships and submarines to pass, which will contribute to reducing navigation traffic in the Bosporus Strait and reduce the risks of pollution that threaten marine wealth and the surrounding environment due to the passage of Oil tankers across the Bosporus Strait has an annual volume of 56,000 ships, including 10,000 tankers carrying 145 million tons of crude oil barrels.
With the increasing international pressure that led to the lifting of sea freight and the expansion of maritime traffic through the Turkish straits, the Istanbul Canal is the best and safe solution for Turkey's maritime navigation, as 137 cargo ships and 27 tankers will pass through them, carrying commercial cargo of 150 million tons.
The engineers relied on building the Istanbul Canal to design a plan with unique techniques to protect it from exposure to negative impacts due to the possibility of a seismic tsunami. They took into account the statistics of winds during the next 25 years, in addition to studying storms and deep waves in the Black Sea, Marmara Sea and the waves caused by Ships passing in the waterway.
The Roads Directorate will also establish recreational areas and build 6 bridges and a harbor to avoid emergency situations, and the 2.7 billion cubic meters of water canal excavation ditches will be used to construct 3 artificial islands in the Sea of Marmara for the purpose of filling potholes in coal mines.
Istanbul channel and the urban revolution
Once the idea of the Istanbul Water Canal was put forward, the meetings of the tables of construction companies in Turkey began to focus on finding a real estate container in the best sides of the Canal for investment and construction of huge housing projects before everyone in a frantic competition between the various construction companies in Turkey.
And as the canal of Istanbul, as the Turks call it, will split the European side of Istanbul, leading to the formation of the island of its outskirts, the shores of the Black Sea, the Sea of Marmara and the Istanbul Strait, real estate will automatically reach a record high in the areas adjacent to it.
On the basis of the foregoing, preparations are in full swing for the construction of a new city on the edge of the canal with an area of 543 million square meters, of which 30 million square meters for the channel, in addition to approximately 146 million meters allocated to green areas, including those directed to the views of modern residential complexes, while others have lost It was left as separate spaces.
Turkish and foreign investors consider Istanbul Canal and its surrounding cities among the most promising and favorable opportunities in the real estate market in the European part of Istanbul.
The areas adjacent to the Istanbul Canal project are known for the great development of residential or commercial real estate projects, in addition to health, educational, recreational and sports facilities.
The prices of selling and renting real estate increased in varying proportions in many adjacent cities such as Basin Express, Kayabasi, Kucukcekmece, Avcilar, Arnaut Koy and Basaksehir.