The Istanbul Water Canal, or as the Turkish government calls it, the “Project of the Century,” which will create an unprecedented global breakthrough, by creating a 45 km long incision in the middle of the city of Istanbul between the Sea of Marmara and the Black Sea, yes, this is the idea that the world is talking about and its consequences.
The Turkish government’s interest in this project is a major challenge at the Turkish internal level and even at the global level and this idea has received a lot of criticism, but the Turkish President is determined to complete this project and even inaugurated the first bridge on the canal several months ago
In this article, Rumeli Real Estate Company will review for you the most important details about the Istanbul Water Canal, starting with the concept and importance of this canal, so let us move later to the benefits and consequences of this idea, then we will conclude this article with the effects that will occur on the real estate market.
What is the concept and importance of the Istanbul Water Canal?
The idea of this canal came after the tremendous pressure on the Bosphorus Strait in particular, which will face great challenges in the future, the most important of which is the increase in the number of ships passing through it, as some ships today wait from one to three days waiting for their turn to pass through this strait.
Add to that the number of accidents that occurred previously in this strait, which caused traffic disruption in it and affected some of the historical palaces located on both sides of it and from here began the Turkish President's dream of creating another rift between the Sea of Marmara and the Black Sea in order to be an alternative or a substitute for the Bosphorus Strait.
The idea is to create a canal route from the line that separates the Sea of Marmara from Lake Kucukcekmece, as it will move towards the Sazlidere Dam through the regions of Altynşehir and Shahintepe before reaching the Black Sea from the east of Lake Terkos and the project area will be within the borders of Arnavutköy, Kucukcekmece, Basaksehir, and finally the Avcılar area.
Advantages of buying real estate near the Istanbul Water Canal
- The new Istanbul Canal significantly supports infrastructure development in the surrounding areas, enhancing opportunities for real estate and commercial investment and property purchase in Turkey
- Real estate in Istanbul and the areas surrounding the canal usually witness an increase in real estate values as a result of major developments and increasing demand for these areas.
- Providing new business opportunities in areas such as tourism, logistics, and transportation, making the region attractive for entrepreneurship and investment.
- Investment in real estate projects in these areas receives great support, and the demand for real estate in Istanbul is expected to rise.
- Providing diverse job opportunities as a result of economic developments and real estate development.
- Providing modern commercial areas and facilities for companies, which enhances commercial activity and encourages attracting companies.
- The demand for housing in neighboring areas may increase, whether for residence or real estate investment.
- Developing public transportation and roads in the surrounding areas, which contributes to facilitating transportation and enhancing real estate value.
- Launching large development projects that include entertainment facilities, commercial centers, and green areas.
- Infrastructure development can enhance the economic process and contribute to making the region more attractive for investments.
- You can buy a property in Turkey worth 400,000 US dollars and obtain Turkish citizenship and a Turkish passport.
- By purchasing a property in Istanbul worth $200,000, you can obtain real estate residency in Turkey.
What are the benefits of the Istanbul Water Canal?
Indeed, if this project succeeds and is completed as planned, the benefits that the city of Istanbul will gain are great at all levels, and Istanbul will even become the “capital of the world,” as some describe it, so let’s get to know these benefits:
Firstly, strengthening Turkey’s position in terms of water crossings
The Istanbul Water Canal will enhance Turkey's position in the field of water crossings, and Turkey will be able to compensate for the billions of dollars it has been deprived of annually, due to the reduced traffic prices for ships that cross the Bosphorus Strait to this day.
Secondly, reducing the huge burden on the Bosphorus Strait
The opening of the Istanbul Water Canal will protect the Bosphorus Strait from the congestion, pollution, and noise that we are currently witnessing, and this will be compensated for by organizing sports activities and events, for example, or tourism, and enjoying the beauty and prestige of the Bosphorus Strait.
Third, preserving the feel and heritage of the historic Bosphorus Strait
Protecting the historical and cultural texture of the Bosphorus Strait is not an easy task to do in light of this daily traffic of huge ships and tankers and when the Istanbul Canal is completed, the Bosphorus Strait will get rid of all of this and will maintain its status.
It is not possible to enumerate all the benefits in this article, so we will move to the most important effects that will occur on the real estate market after the opening of the “Istanbul Water Canal” project of the century.
What are the effects that will occur on the real estate market in conjunction with the opening of the canal?
Two years ago and more, before the announcement of the Istanbul Canal plan, the prices of real estate and lands located in those areas through which it would pass had witnessed a noticeable increase, as many investors rushed to own property in it, meaning that future investment today is on the banks of this canal.
In addition, the presence of apartments on the outskirts of this canal means that it is facing a strait similar to the Bosphorus, and it will be very wonderful to enjoy an unparalleled view in front of a project that the world will witness with such beauty and luxury.
Many Turkish construction companies have acquired a lot of land on the outskirts of the canal, in order to build towers and residential buildings, to the point that they have already begun selling apartments while they are under construction or on the map, such as the Tual Comfort project located in Bahçeşehir.
Also, for your information, the new Istanbul Airport was built along the Istanbul Canal, which means that the future Istanbul Canal project was planned in conjunction with the construction of the airport and this means that the matter of establishing the channel is settled and has been decided upon a long time ago.
The Turkish government also stated that it will create an entire area at one end of the Istanbul Water Canal, and it will accommodate more than 600,000 people in order to relieve pressure on the areas in the center of Istanbul.
Rumeli Real Estate Company offers you many projects suitable for obtaining Turkish citizenship and we take you through professional real estate tours to find your favorite property and we also guarantee you a safe sales process through lawyers specialized in this matter, and we will be with you in this matter until you obtain the Turkish identity and passport, in addition to our distinguished services after the sale process.
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