New news about the Istanbul Water Canal project
On the twenty-sixth of June this year, Turkish President Recep Tayyip Erdogan inaugurated the Istanbul Water Canal project after a continuous delay caused by the Corona pandemic. The Aegean and Mediterranean, and the project aims to form a new international waterway, increase the security of navigation and ship traffic in the Bosphorus and reduce pressure on it, and thus protect the historical and cultural fabric of the Bosphorus.
The canal is 45 km long, 7,520 m deep, and at least 275 m wide at its base.
The cost of the project amounted to 25 billion dollars, and it is expected to open in 2027
Even before the announcement of the start of work on the canal, real estate prices in the areas surrounding and close to the canal began to rise, and real estate experts expect that real estate prices in Istanbul will witness an unprecedented rise that may reach 50% after the completion of the canal construction project, which encouraged Turkish and foreign investors in Turkey. On the demand and competition to buy real estate in the areas near and surrounding the canal.
Here is the latest news about the Istanbul Water Canal project, especially with regard to the surrounding construction:
Disclosure of the organizational chart of the area surrounding the Istanbul Water Canal project
After the start of the project, the Turkish government announced the steps of the construction stages of the canal in detail, including the details of the city that will be built around the canal project, and it is expected that this city will be one of the most important attractions in Istanbul, especially in the tourism and commercial sectors. Among the most prominent information announced:
Large areas of agricultural land will be organized in the Arnavutkoy area to be prepared for construction. The land area is about 39 million square meters, and it will be invested in commercial and tourist facilities.
An exhibition and technology arena will also be established in the Taya Kaden area, containing a technology center with an area of 2.2 million square meters, and an area of 1.4 million square meters will be allocated to provide tourism services, exhibitions and conferences.
As for the Baklali area, a huge health center will be established to provide health services at the local and international levels, including centers that include all medical specialties, a hospital, health resorts, and nursing homes for the elderly.
Many botanical and water parks, and cycle paths in green spaces, will also be established, with an emphasis on being near the tourist, commercial and residential facilities that will be established.
Shafik Barkiah, the architect of the presidential palaces, will be responsible for constructing the largest real estate projects around the Istanbul Canal, according to a report published by the Turkish newspaper Sözcü.
– Establishment of two model smart cities around the Istanbul Water Canal project:
Among the most important detailed information about the Istanbul Water Canal project: the construction scheme of two typical smart cities, which will be in accordance with the style of low horizontal architecture, with the stipulation that the buildings in these two cities do not exceed five or four floors, and the maximum population of each city will be 500,000 people, and the city will include spaces Green, health and educational centers, commercial and tourist facilities, official institutions and transportation routes.
Turkish President Recep Tayyip Erdogan stressed in a speech he delivered on 30/6/2021 in the capital, Ankara, that “Turkey will implement the Istanbul Canal project like the rest of the projects and service works that have been implemented before, and that this project will make a significant contribution to solving the problems of one of the largest cities of the year and saving its future.” such as crowded traffic on the Bosphorus, and earthquake preparedness.”
The real estate market will witness a huge recovery with the start of the implementation of the water canal project in Istanbul! Do not be the last to arrive, and benefit from today’s great real estate prospects that this project will open. We are always there to help you in this regard.Call Now.