Kanal Istanbul – The megaprojects that are developed add value to the regions they are located in even before they take place. There is a similar situation for Kanal Istanbul, which is expected to be one of the largest transportation projects in the world, as in the 3rd Airport, Yavuz Sultan Selim, and Osman Gazi bridges. This Project will pass through Avcılar, Küçükçekmece, Başakşehir, and Arnavutköy. And it is about 45 kilometers long.
Kanal Istanbul Project will start from Küçükçekmece Lake and end on the Black Sea coast. It is foreseen that this project will be a megaproject that will affect the Marmara Region and even the whole country’s economy together with Istanbul in many areas, especially urbanization, transportation, tourism, and trade.
How the Kanal Istanbul Project Affects Real Estate Prices?
Kanal Istanbul was announced as “Crazy Project” in 2011. Kanal Istanbul increased housing prices in 22 regions such as Arnavutköy, Küçükçekmece, Avcılar, and Başakşehir districts. Crazy Project has also increased the prices of the fields and plots in Arnavutköy. Districts such as Çatalca, Silivri, Büyükçekmece, Esenyurt, which are close to Kanal Istanbul, and especially in the areas continuing on the new Northern Marmara highway line, will be a very important area of appraisal, investment, and urbanization.
Many companies, especially foreign companies, who want to make investments both in the construction of Kanal Istanbul and in its vicinity have already increased their land investments in these regions. Many investor groups from Qatar, China, Iraq, Iran, Libya, Saudi Arabia, and Kuwait countries have started to invest in these regions. An artificial waterway will be drawn out between the Black Sea and the Marmara Sea to relieve the ship traffic in the Bosphorus, which is a passage between the Black Sea and the Mediterranean with this project.
Kanal Istanbul – At the point where the channel joins the Marmara Sea, one of the two new cities that are planned to be established by 2023 will be established. The length of the channel is 40-45 km. Its width will be 145-150 m at the surface and approximately 125 m at the base. The depth of the water will be 25 meters. The Bosphorus will be completely closed to tanker traffic and two new peninsulas and a new island will be formed in Istanbul with this canal.