The safe and stimulating investment environment is a major factor in successful investment in Istanbul, and the developed infrastructure cannot be forgotten, as it forms the basis on which successful and promising investment is based, so that the likelihood of real estate investment success rises whenever the infrastructure is more solid, developed and in line with the requirements of the times. During the investment in Istanbul, due to the importance this city bears on the Turkish internal economic level, in addition to providing a legislative structure and economic laws that equate the Turkish investor and the foreign investor, it is one of the most important factors that led to the increase in the rate of foreign investment in the Turkish real estate market.
Turkish President Recep Tayyip Erdogan announced the establishment of one of the major projects that will be completed in 2023, and the Turks describe it as a project of the times and that it is the largest work to be accomplished in the history of the Turkish Republic ..
Do you have information about the largest project in Istanbul (Istanbul Canal) ?? To know it and its importance in the real estate market, the Istanbul Canal project aims to establish a waterway west of Istanbul’s new airport, parallel to the Bosphorus, linking the Sea of Marmara and the Black Sea, dividing the European part of the city into two parts, making the eastern part of the European section an island in the middle of the two continents of Asia And Europe; It is the largest in the world, the canal will be 45 kilometers long, 150 meters wide, and 20-25 meters deep, and it will be able to create 10,000 job opportunities, and 8 bridges will also be built over it to connect the two parts divided between each other and on its sides new housing units will be created to reduce the density problem. The growing population, from which Istanbul suffers greatly, and the value of the project will reach approximately 75 billion Turkish liras.
One of the features of this channel is to reduce the navigation traffic in Istanbul by diverting the traffic of ships from the Bosphorus to the industrial channel, in addition to its importance in reducing the dangers to which the Bosphorus Strait is exposed and the passage of oil tankers in the Bosphorus Strait, which constitutes a danger to marine life and do not forget the important goal The construction of the Istanbul Canal is the end of the Treaty of Lausanne, which stipulates that the Turkish government will not collect taxes on the passage of ships from the Bosphorus by 2023, the construction of a project such as the new Istanbul Canal is economically important for Istanbul, as the water crossings generate a large income and it is worth noting that the new Istanbul Canal And unlike the Bosphorus Canal, which will be built on uninhabited lands, building infrastructure for areas on the outskirts of the canal will be easier, unlike the Bosphorus Canal, which contains old areas.
The Istanbul Canal also encouraged investment, and it had a great impact on encouraging investment, as many resorted to investing in the European side of Istanbul, whose light shone after the canal project. The construction of the canal will be of great importance to the Turkish real estate sector as the real estate that will be built near it will be a high investment opportunity. The region will witness unprecedented government interest, and perhaps the most important points that will distinguish real estate in this area are the proximity to the waterway road that connects the city center and the good Istanbul airport, and the area will also be characterized by a large commercial and tourist movement, and of course, the projects near Istanbul Canal will have wonderful views.
But one of the problems that this huge project suffers from is that the residents there are trying to adhere to their rural lifestyle, and they suffer from anxiety about the future, as many of the residents of these areas are elderly and will not be able to adapt to the residential life in the luxury housing.