Real estate investment around Istanbul Canal is one of the projects of Vision 2023 .. Real estate questions

قناة اسطنبول الجديدة

Many investors in Arab countries are looking forward to real estate investment around the Istanbul Canal, one of the projects of Vision 2023, As the volume of real estate purchases increased around the new Istanbul Canal, which is the Century Project, which is directly supervised by Turkish President Recep Tayyip Erdogan, Many Arab investors had the right to rush to invest around the huge water canal, buy plots of land and buy real estate, which connects the Sea of Marmara with the Black Sea and makes its way from Lake Kucukcekmece.

Real estate investment around Istanbul Canal

One of the real estate questions in Turkey that has been raised recently is whether foreigners and Arabs can invest in real estate around the Istanbul Canal, We tell them that you can buy real estate near the Istanbul Canal and invest in the area overlooking and close to the Canal, After the announcement of the digging of the Istanbul Canal, many investors in the Arab countries succeeded in buying real estate around the Istanbul Canal, purchasing plots of land, and building real estate and investment projects around the canal.

Many real estate experts also expected a significant increase in real estate prices around Canal Istanbul and the areas near the new canal as a result of the division that Canal Istanbul makes on the European side of Istanbul, becoming a large island with its shores extending on both the Black Sea, From the Sea of Marmara, The areas surrounding the canal will also be distinguished by the aesthetics and distinction due to the projects supervised by the Turkish government.

What is Istanbul Canal?

Kanal Istanbul or Kanal Istanbul is a waterway or water strait similar to the Bosphorus Strait, at a distance of 30 km from it in the direction of the west, The canal connects the Black Sea in the north with the Marmara Sea in the south. 45 km long, And a depth of 25 meters. It is about 400 meters wide. And at one point it reaches one kilometer, The Istanbul Canal starts from Küçükçekmece Lake in the south, which is a natural water lake connected to the Sea of Marmara, west of Istanbul, and extends comprehensively to the Shazildebri Dam and then the village of Shamlar to the Black Sea.

The Istanbul Canal connects on its two sides 10 bridges within the canal project. The initial cost of the project was estimated at about 15 billion US dollars. The Istanbul Canal is an old idea in Turkey, where the first phase of the canal began in the sixteenth century, but there was no progress in digging the canal, But in 2009 the idea was renewed again and some pre-feasibility studies began until the results of the studies were already announced in 2011. The year 2012 witnessed the beginning of work on it until the first phase of construction began in 2013. By 2017, Turkish President Recep Tayyip Erdogan officially announced the opening of an industrial canal linking the Black Sea and the Sea of Marmara.

The width of the new canal will be 150 meters on the surface and 120 meters at the bottom of the canal. A large number of ships and submarines will pass through this canal, and it is expected that the waterway will bear the transit of 137 cargo ships and 27 tankers carrying commercial payloads of 150 million tons. On both sides of the canal there will be a new city that will include markets, real estate projects, residential complexes, villas, commercial centers, malls and a conference hall. Also, 3 part of the output of the new Istanbul Canal excavations, estimated at about 2.7 billion cubic meters, will be built.

Buying real estate around Canal Istanbul

Buying real estate around the new Istanbul Canal will be one of the best real estate investment opportunities around the Istanbul Investment Canal, especially after its parallel with the famous Bosphorus host, Therefore, investors are advised to buy real estate near the canal and buy agricultural lands surrounding the Istanbul Canal and based on real estate and investment projects, We also recommend buying apartments in the frustrated city of Istanbul by the canal, Because the prices of apartments in Istanbul around the canal at this time are cheap, and you should hurry, invest and buy real estate around the new Istanbul Canal.

The experts also expected a rise in the prices of real estate and investment facilities and agricultural lands as soon as the construction of the Istanbul Canal, or what is known as the Century Project in Turkey, begins because it is a huge project that will bring Turkey billions of dollars annually and will become the focus of attention and talk of the countries of the world. It will raise the Turkish economy to very large levels.

With the beginning of talk about the plans of the canal project, it greatly affected the real estate investment and the prices of the lands surrounding the canal. Especially since 30% of the land is owned by individuals, as the price of a square meter of land in the village of Shamlar increased from 6.5 to 184 dollars. In other regions, the price per square meter reached $800. out of 25 dollars.

The Turkish government said that the 2023 vision projects, including the Istanbul Canal, will create tens of thousands of new job opportunities. Which will reduce the unemployment rate in Turkey.

The importance of the Istanbul Canal

The importance of the Istanbul Water Canal is very great and will bring more great benefits to the Turkish citizen, government and economy, whether the canal project or the mega projects of Vision 2023, Among the most prominent benefits of the Istanbul Water Canal on Turkey are:

  1. Reducing the navigational burden on the Bosphorus Strait, It reduces the pollution rate of the Bosphorus Strait due to emissions and waste that may harm the archaeological and heritage areas surrounding the canal.
  2. Encouraging real estate investment around the Istanbul Canal in Turkey, especially encouraging Arab investors to invest in real estate around the Istanbul Canal.
  3. The high value of land and real estate located within the European side and close to the new Istanbul Canal.
  4. The increase in the economic value of this area, the increase in profits, and the increase in the value of real estate investment around the Istanbul Canal significantly than before.
  5. Encouraging tourism to Turkey, Increasing the number of tourists.
  6. It will create tens of thousands of job opportunities in Turkey.
  7. Attracting more investments in all fields.
  8. Increasing the security in the maritime navigation of the Turkish straits while increasing the maritime tonnage and maritime traffic.

Arab investors and other residents in Arab countries can buy apartments around the canal and invest in real estate around the lucrative giant new Istanbul Canal, Yes, profitable, which will return to future investors with fantastic profits and sales.

The new Istanbul Canal project, in addition to the new Istanbul Airport project, which is part of Turkey’s 2023 projects, makes the European side of Istanbul a real opportunity to increase real estate investments in global markets.

The impact of Istanbul Canal on the surrounding real estate and investment projects?

The new Istanbul Canal has greatly affected the surrounding real estate and investment projects, As it brought more benefits to the areas of Basaksehir, Bahcesehir, Küçükçekmece, Avcilar, and Arnavutkoy, And many areas surrounding the water canal, where these areas witnessed an increase in the volume of real estate sales and witnessed a demand for real estate investment around the canal and a significant increase in real estate prices

The following is a graphic table of the areas affected positively by Istanbul Canal and the average price per square meter in it:

RegionAverage price per meter
Bahcesehir3500 – 5000 TL
Küçükçekmece2900 – 3000 TL
Basaksehir5000 – 8000 Turkish Liras
Avcilar2500 – 3000 TL
Arnaout Koi2225 – 2700 Turkish Liras

Many investors are rushing to invest in real estate around Istanbul Canal, as the surrounding areas such as Basaksehir and Kucukcekmece will be one of the most important areas in Turkey for real estate investment

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