The new Istanbul Canal is one of the largest construction projects in Turkey, as it provides many economic and environmental advantages and benefits and since the start of the implementation of this huge project, the surrounding area has witnessed great changes and many impacts and in this blog, we will take a look at the areas that were most affected by the new Istanbul Canal and the changes they witnessed in various fields.
Istanbul Canal Project and its economic impact:
The new Istanbul Water Canal project comes as a decisive economic transformation in the history of Turkey, as it will enhance the effectiveness of domestic and international transportation of goods and passengers, as well as open new job opportunities for citizens and in addition, this project will contribute significantly to the rise in real estate prices in the surrounding areas, thus stimulating investments in these areas.
There is no doubt that the Istanbul Canal project will have a positive impact on the Turkish economy in general, and will attract more local and international investors to Turkey, which reflects greater economic growth and faster development in the country.
Urban changes in the new canal areas:
The new Istanbul Canal may have a significant impact on its neighboring urban areas, as the project will lead to remarkable urban transformations and it is expected that new facilities, residential, commercial and industrial areas will be established in the areas surrounding the canal, leading to radical changes in the urban planning of those areas, but as is happening in any big project as there are environmental and social challenges and problems associated with this project and therefore, necessary precautions must be taken to avoid negative impacts on the urban and population areas in the vicinity of the canal.
Environmental challenges of the new project:
The new Istanbul Canal project faces environmental challenges, the greatest danger of which is water pollution and the exacerbation of the problem of industrial waste with the expansion of building and construction operations in the region, there is an increasing threat to nature and wildlife in the region In addition, the increased noise poses a threat to wild animals and birds in the area, as well as a negative impact on the quality of life of the local population.
Areas affected by the new Istanbul Canal:
Learn through the following paragraphs about 4 areas in Istanbul, on which the impact of the new canal was very great and on its investment future.
1- Arnavutkoy:
Arnavutkoy is one of the areas facing a significant impact of the new Istanbul Canal project, as it recorded a significant increase in real estate prices amounting to more than 50% per square meter, which prompted investors to pay special attention to this area, moreover, Arnavutkoy has become a major attraction for real estate investors after news of the canal project began to spread as the area is expected to be greatly enhanced due to improved infrastructure and increased investment and tourism flows after the completion of the project although the project faces some environmental challenges, this did not prevent the growing interest in the area and the potential economic development that will follow the project.
2 - Kucukcekmece:
Kucukcekmece occupies an important place in the new Istanbul Canal project, as about 7 kilometers of the canal route are located within the region's boundaries with the commencement and completion of work on the project, the real estate and land market in Kucukcekmece will witness a significant increase, which means an ideal opportunity for investors wishing to invest in this region.
Urban transformations in the region will also change dramatically, and public services and infrastructure will improve in line with the region's development and economic prosperity.
3 - Basaksehir:
The Basaksehir area is greatly affected by the new Istanbul Canal project, as the project is one of the main projects close to the neighborhood, and this project will increase the speed of growth of the neighborhood and the prosperity of business and trade, and may lead to an increase in real estate prices and in addition, the neighborhood will see major urban changes in the look and feel of the city.
4 - Avcilar:
Avcilar, located near the Sea of Marmara and Lake Kucuk, is one of the areas most affected by the New Istanbul Canal Project The project is considered positive for investment in Turkey, as it is planned to build 6 bridges and a new city on both sides of the canal, which will push investments towards this region.
Impact on residential areas near the Canal:
Residential areas near the new Istanbul Canal are among the most affected by the project, as the project is expected to attract real estate investments and business to these areas as this could lead to major changes in the infrastructure of the areas adjacent to the canal, and an increase in urban and population movement and despite the widespread traffic congestion and harmful gas emissions, the economic impact of the project could be positive on the nearby residential areas what makes these areas more affected is the stability of real estate prices and the increase in local job opportunities, which enhances their attractiveness for investments and contributes to improving the living of the population.
What is the new Istanbul water Canal?
The new Istanbul Canal is one of the ambitious projects within the framework of Turkey's maritime transport development plan as it is a new waterway with a length of about 45 kilometers, extending from the Black Sea to the Sea of Marmara and linked with the Bosphorus Strait to the west of the new Istanbul airport, allowing passing ships to avoid passing through this narrow strait and reduce maritime traffic congestion in the region as the maximum width of the channel is 275 km meters and a depth of 21 meters as it is expected that the canal will contribute to enhancing maritime transport in the Black Sea and Marmara Sea and promoting investments in these areas.
If you want to buy real estate in Istanbul near the new water canal to benefit from the investment properties of those areas, do not hesitate to contact our real estate consultants, who will put in your hands all the available and appropriate possibilities and offers.
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