One of the most modern and huge Turkish projects.. The Istanbul Water Canal project, what does investing in this Istanbul Canal project mean, that is what we are going to talk about.
The project is still on the plans, as it is a water canal, parallel to the Bosphorus, with a length of 45 km, a depth of 25 km, and an initial width of 400 m, but it may reach to1 km. The canal starts- according to the plans - from Küçükçekmece Lake and ends in the Black Sea. Thus, the European section of Istanbul will be divided into two parts, as qonsequence, one of these two sections will become an island lacted the Bosphorus and the Istanbul Canal, and this is exactly what will affect the real estate investment in the city.
Experts expect a great growth for Turkey's economy after the ending the project, as this canal will change the geography of Istanbul and will also increasingly attract foreign investors, and thus will increase real estate prices in the areas around the canal, as the Bosphorus Strait affects the prices of real estate overlooking the strait, and the European section of the city Istanbul is full of new projects, real estate or civil projects, as this factor will also increase real estate prices in the region.
According to the Turkish government, the Istanbul Canal project will take 5-10 years, after which the canal will decrease the pressure on the Bosphorus Strait, as the Bosphorus will be considered a tourist area rather than a commercial one.
How do investors benefit from this project to their advantage?
It is enough for any investor to buy any real estate, whether residential or even land on both sides of the canal, as the plans are completely clear and anyone can know the areas through which the canal will pass and choose the most appropriate area for the investor.
In case investor buys a land on both sides of the canal, it is better not to build any real estate or compound on the land at the present time, but rather to leave the land as it is after starting the construction of the canal to make the most of the land’s location.
