Istanbul Canal and investment in Istanbul
Istanbul Canal promising investment opportunities in the Century Project
Istanbul Canal and investment in Istanbul within the framework of the Turkish investment plan and major projects for 2023, the state plan was announced to create a new canal aimed at connecting the Black Sea and the sea of Marmara. This project is considered one of the major projects in Turkey, and it is a project of future importance surpassing the Suez Canal and the Panama Canal, according to the political leadership in Turkey
With the announcement of the new Istanbul Canal project, many questions arose and everyone began to look for the importance of this project and the benefits that will return to Turkey as a result of its implementation
The huge project was named “Canal Istanbul”, and some beliefs are widespread that the project was built by Turkey to be on the European side of the country, connecting the Black Sea with the sea of Marmara, as well as the Aegean Sea and the Mediterranean Sea
And although the idea of a new canal first appeared in the XVI century, no serious step was taken to implement it then
By 2009, the idea was renewed and some pre-feasibility studies were started, and the results of the studies were announced in 2011. In 2012, the first stage of construction began, and in 2017 the Turkish president officially announced the opening of the Industrial Canal connecting the Black Sea and the sea of Marmara
Real estate prices in Istanbul and the areas adjacent to the new canal are expected to witness a significant increase, due to the changes that the Istanbul Canal will bring in the European region of Istanbul, as it will become a large island with beaches stretching to the Black Sea, the sea of Marmara, the new canal and the Bosphorus Strait
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The unique characteristics of the new Istanbul Canal
The new Istanbul Canal is designed to be larger and deeper than the old Istanbul Canal, and is characterized by the following specifications
Length: the new Istanbul Canal is planned to be between 45 and 50 kilometers (28-31 miles) long
Width: the width of the channel is 150 meters (490 ft) at the surface and 120 meters (390 ft) at the bottom of the channel
Depth: the depth of the canal is expected to be about 25 meters (82 feet)
The design of the new canal aims to enable the transit of a larger number of ships and submarines, and the canal is expected to withstand the transit of 137 cargo ships and 27 tankers with commercial loads up to 150 million tons
In addition, it is planned to build six bridges along the new canal, and also create a new city on both banks of the canal. The city includes a conference hall, major business centers and residential complexes
The Turkish government also intends to exploit the materials resulting from the excavation of the canal to build three islands, and the amount of fossil materials extracted is estimated at about 2.7 billion cubic meters
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For the outstanding benefits of the new Istanbul Canal Project
The new Istanbul Canal was established for the purpose of diverting sea traffic from the Bosphorus Strait to the dedicated industrial canal, in order to relieve pressure on the city and its residents. This entails several benefits and goals, including
Reducing environmental risks
The new canal contributes to reducing the environmental risks to the area around the Bosphorus Strait, due to minimizing the transit of oil tankers and large ships that may pose a threat to marine life and the environment
Increased maritime safety
The New Canal provides a safe and separate sea route from the Bosphorus Strait, which improves safety in maritime navigation and reduces the risk of collisions and maritime accidents
Termination of the Treaty of Lausanne
The end of the Lausanne Treaty, which prevents the Turkish government from imposing transit fees on ships in the Bosphorus Strait, is one of the goals of the construction of the new canal. By 2023, the centenary of the foundation of the Turkish state, Turkey will be able to impose transit fees on ships using the canal, which is an important source of financial revenue for the state
These objectives combine alleviating traffic congestion, preserving the marine environment, improving safety in maritime navigation, as well as achieving a source of new financial revenues for the state
The cost of the new Istanbul Canal Project
In 2013, the then Turkish Prime Minister, Recep Tayyip Erdogan, announced that the cost of building the new Istanbul canal would amount to about 10 billion dollars, and stressed that the state would provide all the necessary funds for construction from the state treasury and its resources, and no external financing would be relied on
The Turkish army has been assigned a major and key role in overseeing the construction of the new canal, given its strategic importance for the future of the country and the well-being of its citizens
This is due to the experience and competence of the Turkish army in the fields of engineering and supervision of major projects
These efforts combine the keenness of the Turkish state to provide the necessary funds for the construction of the canal from its internal resources and not to rely on external financing, and the role of the army in supervising construction based on its expertise and engineering capabilities
The importance of investing in Istanbul in the area around the canal
It cannot be denied that the new Istanbul Canal project has made a significant and obvious impact in encouraging investment in Istanbul, whether internal or external
After the announcement of the project, many began to think about investing in the European side of Istanbul, which has witnessed significant growth after the implementation of the project, and has become attractive to real estate investors
This resulted in some positive results, such as the rise in the value of land and real estate in the vicinity of the new Istanbul Canal on the European side. The economic value of that region has also increased, profits and the value of investments have increased significantly
The new Istanbul Canal project, along with the new airport project, is part of Turkey’s 2023 projects, which provides real opportunities to increase real estate investments in that region
Work is now actively underway on the new Istanbul Canal project to reach its completion by 2023 and start its full exploitation, using only local funding
Services provided by Kate turk company
At “Kate Turk”, we realize that the best real estate investment lies in choosing the best areas, so we work hard to provide the best Real Estate Consulting to our clients. When we searched for an investment opportunity, we found that this was a unique investment opportunity that deserved everyone’s attention. We understand that you are looking for a property that will give you a safe investment
The company “kit Turk” is a consulting company specializing in real estate consulting, development and implementation of large and medium-sized projects. We are looking for real estate investment opportunities by managing gatherings of investors seeking to invest in real estate or reside in Turkey by buying a property. We manage and develop these opportunities to ensure the highest profit rate for investors
We also provide investment management and participation services in real estate projects based on thorough and comprehensive studies of each project. We take care of all economic aspects and carry out a thorough feasibility study to ensure the success of projects
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