Istanbul new water canal ...The project of the era for the Turkish economy

When looking at the map of the world and examining it, we will immediately notice the strategic and exceptional location of Turkey, as it is located at the crossroads between the three continents of the world (Europe - Asia - Africa), which is supported by a group of straits and sea lanes that connect these continents.

These corridors have always been the main cause of all the wars and crises that Turkey has been subjected to over the last decades, and the struggle to control these corridors has always been the preoccupation of all governments that ruled the Turkish Republic.

Hence the importance of these corridors in drawing the political map not only for Turkey, but for the entire region, and in this article we will learn about the project of the new water canal for Turkey, which is expected to change the concepts of roads and sea lanes in Turkey.

The main idea for creating this channel.

Many names have been given to the canal project, such as the “Incredible Project” or the “New Era Project”, and through these titles, it will become clear to us the importance of it locally and internationally.

The canal project is not an interest of the moment. but it is a dream whose beginnings date back to the sixteenth century during the reign ofSultan Suleiman, but the project failed at that time because of political reasons, so the project came back to the table in 2009 through serious government efforts to establish this project despite all Obstacles it faces.

The main reason for ​​this project is to relieve pressure on the Bosphorus Strait, which is the main passage for ship traffic between the  Marmara Seaand the Black Sea.

It also aims to make Turkey get a high financial return because of the time that ships will save by using this channel. Without forgetting the economic and urban recovery that will be occurred in the areas where the canal will take place.

most important details and general specifications of the channel:

• The length of the new Istanbul Water Canal will be between 45-50 km (28-31) miles, and as for its depth, it will be about 25 meters (82) feet.
• Concerning the width of the canal, it will be 150 meters (490 feet) at the surface and 120 meters (390 feet) at the bottom of the canal.
• As for the canal's capacity, according to many reports and statistics, the new canal is designed to accommodate the transit of 137 cargo ships and 27 tankers carrying commercial payloads up to 150 million tons.
• The Turkish government also intends to build 6 bridges and a new city on both sides of the canal. This city will include a distinguished conference hall, large commercial centers, and several residential complexes.

The course of the Istanbul Canal project will start from the point separating the Marmara Sea from Lake Küçükçekmece and will move on towards the Sazeldere Dam through the Ataşehir and Şahintepe regions before reaching the Black Sea at the east of Lake Terkos. The project area will be within the districts of Arnavutköy Küçükçekmece, Başakşehir, And Avcılar.

The important role that the channel will play.

The canal will be considered a turning point in the future of Istanbul and Turkey in general because it will provide a solution to the navigational problem of the Bosphorus strait, which is a burden on the movement of ships, as it places a lot of responsibility on the government to organize and facilitate the movement of these ships.

The canal will also provide support for shipping between the Black Sea and the Marmara Sea, especially for oil tankers, which sometimes have to wait for several days and maybe weeks to cross through the Bosphorus Strait, since the channel's capacity exceeds 160 ships per day.

The benefits that the canal’s project will achieve.

The establishment of this channel will certainly bring many economic and political benefits to Turkey, which will enable it to play a vital role in the economic, tourism, and trade fields.

And perhaps the most important benefits that Turkey can obtain are:

• Increasing Turkey's ability to control its existing waterways to obtain a kind of compensation for the losses of the (Montreux 1930(agreement.
• It will be a cornerstone for Turkey to reach the top 10 economies in the world.
• Achieving a high range of profits, which may reach 10 billion dollars annually, which will constitute a good additional income for the Turkish national income.

• Reducing pressure on the Bosphorus strait by finding a suitable alternative sea route that allows the passage of 160 ships per day.
• Reducing the rate of environmental pollution to which the Bosphorus region is exposed, this pollution results from the passage of a huge number of ships through it.

• Transforming the Bosphorus area into a touristic area, away from the movement of commercial ships.

• The establishment of the channel will provide thousands of job opportunities in various sectors and specializations, which will contribute to reducing the unemployment rate in general.

The future of the areas that the canal will pass next to them from an investment real estate perspective.

The establishment of the new Istanbul Water Canal project will not be limited to digging the canal only, but also will include many vital modern projects that will add economic momentum to the project, and perhaps the most important of these projects, which will be accompanied by the construction of the canal, will be:

• A unique seaport on the bank of the Black Sea, which will enhance the marine trade movement.
• A center for logistics studies near the canal.
• Residential areas are built on modern foundations and equipped with many hospitals, educational and commercial centers.
• Artificial islands will be created from the waste resulting from the digging of the canal.
• 8 bridges along the canal to facilitate traffic between the two sides of the new city will be created when the canal is done.

The canal will be constructed along with four main areas in European Istanbul: Küçükçekmece - Avcılar - Başakşehir - Arnavutköy.

Here, we must point out the distance that the channel will occupy in the mentioned areas:

From the moment the decision of the canal’s construction was issued and since its implementation started in 2017, real estate construction companies in Turkey started competing to obtain construction contracts within the areas we mentioned, which are located near the canal, which witnessed unprecedented price increases, with rates reaching up to 50% in areas such as Arnavutköy and Başakşehir.

It is expected that the rate of prices increasing in these properties will double once the construction of the canal is completed.

Naturally, these properties will gain a distinct profitable return if they are rented or even sold after a period.

Therefore, our real estate experts at ISTOMES Real Estate advise the investor who wishes to obtain an apartment in Turkey in general or in Istanbul in particular, whether for living or the purpose is for real estate investment and obtaining a good investment return, or even for those who wish to obtain Turkish citizenship through real estate investment in Turkey To focus on these areas that close to the course of the canal because they will constitute golden investment opportunity during the next decade.

Through the previous points we mentioned, we tried to give a detailed explanation of the new Istanbul Water Canal and the great role it will play in Turkey's economic and political future when its construction is completed.

We also tried to shed light on the benefits that the construction of the canal can bring for the areas which the canal will pass through and for the future of these areas from a real estate and investment perspective.

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