Turkey has emerged as an economic power among the countries of the world, and has occupied an advanced position among the ranks of countries, whether in terms of industry, tourism, health, or real estate investment. It has also reached record numbers in exports and established many huge projects, the effects of which were reflected in the city of Istanbul specifically in increasing the demand for living. And investing in it. One of the most important and newest projects established by the Turkish government to support its sustainable economic plan is the “New Istanbul Canal” project.

What is the Istanbul Water Canal?

It is an artificial waterway parallel to the Bosphorus Strait, and 30 kilometers away from it. It extends from Lake Kucukcekmece, located on the European side of Istanbul, with a distance of 6,149 meters, taking into account the distance traveled by the canal in the Sazlidere Dam, and then about 6,061 meters within the borders of the Basaksehir region. “, and about 27,383 in the “Arnaoutkoy” area, so the length of the canal is about 40 to 45 km.
The new Istanbul Canal project is located in the western part of the city of Istanbul, linking the Sea of ​​Marmara and the Black Sea. The width of the base of the canal is 275 meters, and its depth will be about 25 metres. The value of the project is 25 billion dollars, with 15 billion dollars for building the canal and 10 billion dollars for construction adjacent to it.

The Beginning

History books reported that this project had previously been proposed during the era of Sultan Suleiman the Magnificent at the suggestion of the famous engineer Mimar Sinan, but they did not give clear reasons for stopping it. Then it was proposed again in March 1591 during the reign of Sultan Murad III, who ordered the resumption of work, and after the implementation of many His details stopped again.
The project idea came back in a promising and strong way, with executive ideas, during statements by Turkish President Recep Tayyip Erdogan in April 2011 when he was prime minister at the time.
Excavation work in the water canal began in 2013, and it is expected that the canal will be officially opened during the year 2027, according to statements reported by Turkish media.

The goal of establishing the Istanbul Canal

The Istanbul Canal aims to reduce shipping and traffic movement and relieve pressure in the Bosphorus Strait after the congestion of ships passing through the Strait reached 52 thousand ships annually. The canal is scheduled to allow 185 ships to pass daily compared to the number of ships currently crossing the Bosphorus Strait, which ranges between 118 – 125 ships per day.
The project will include a marina for yachts and ships, entertainment areas, a container port, and areas for logistics services. There will be four traffic lines, and the canal will be connected to main roads.
Turkey also aims to occupy an advanced position among the 10 most powerful economies in the world by the 100th anniversary of the founding of the modern republic in 2023 through this project and other similar projects.

The investment importance of the Istanbul Canal

The Istanbul Canal project is called the “Project of the Age” in reference to the economic and commercial gains it will achieve for the Republic of Turkey. This is due to the distinguished strategic location and the main role it plays in facilitating international transport movement. According to reports issued by the responsible authorities, the water canal will be 13 times safer than the Istanbul Canal Project. Bosphorus Strait in terms of navigational safety.
The project is scheduled to generate huge profits for Turkey, estimated at about $8 billion annually, which will contribute to compensating it for the $10 billion it was deprived of due to the reduced traffic rates for ships crossing the Bosphorus Strait, according to what local sources reported.

The canal will also allow the establishment of an integrated city on its outskirts that can accommodate 500,000 people, with huge real estate projects whose prices will double over time.
According to the project’s strategic plan, the areas located in the ocean, such as Basaksehir, Avcilar, Kucukcekmece, Arnavutkoy and Esenyurt, will witness a major urban transformation with the opening of the project and will become part of a new city with an area of ​​7.5 million square meters next to 450 million square meters of beaches and the Corniche, and 147 million of The sprawling gardens and parks on the shore of the canal, and its real estate will achieve large profitable returns if rented and higher returns if sold after years, in addition to the fact that real estate near the Istanbul Canal is considered a promising opportunity for housing, investment, and also obtaining Turkish citizenship.

For its part, the infrastructure projects being built next to the canal will contribute to increasing the demand for project construction, which will be reflected in the demand for owning and purchasing real estate in Istanbul.
The canal will give Turkey a great competitive advantage in international transport trade, more than 75% of which passes across the seas, as the project will split the current European side of Istanbul and thus will form an island with beaches on the Black Sea and the Sea of ​​Marmara and the new canal and the Bosporus between the continents of Asia and Europe.

Reasons that encourage real estate investment on the banks of the Istanbul Canal

The project will contribute to creating a qualitative shift in the reality of land and sea transport in Turkey, and therefore it is considered the project of the era par excellence for Turkey.
The new Istanbul Canal has taken the title of “New Bosphorus,” and thus it will take on its advantages and importance. The real estate in the area will also provide a similar view, and the real estate prices in its surroundings will be astronomical over time.
-Many important projects will be built around the new Istanbul Canal, which will enhance trade and tourism, creating a need for new hotels, new restaurants, and new job opportunities.
According to the plan, a logistics center and port will be built with an area of ​​up to 2 million square meters at the entrance to the canal from the Black Sea side, and it will be linked to the main port of Istanbul located on the coast of Beylikduzu.

The project’s surroundings will include smart cities equipped with hospitals, commercial centers, and educational and tourism centers
-8 bridges will be built along the canal corridor, which will facilitate transportation between the two sections of the European side.

• The Istanbul Water Canal is located close to the corridor that connects Istanbul Airport with the city center. This ensures quick access and shortening of many roads, which represents an investment revolution in the areas near the canal.
  The project is one of the most important plans of the Turkish government for the years 2023 and 2053, which is scheduled to place Turkey among the 10 most powerful economic countries in the world.
  The importance of Canal Istanbul stems from its distinctive geographical location, which will provide new projects and new opportunities for all those wishing to invest in Turkey.

We at Asas Homes Real Estate are always pleased to provide you with the most important information about the Istanbul Canal project and real estate projects in that region, so do not hesitate and contact us immediately.