Since the beginning of the new millennium, the Turkish Renaissance has been a significant factor in making Turkey a beacon for the largest global investments.
This fact was embodied after the construction of the largest airport around the world, which is the new Istanbul Airport or Istanbul Third Airport. The unparalleled success that Turkey achieved thanks to this largest project in its history, made investors around the world think differently, which is what he called the “Century Project” of the Istanbul Water Canal project. After years of ups and downs between supporters of the start of excavations for the Istanbul Canal, and those opposed to it because of what they described as the environmental damage that may result from this project. The Turkish government has finally announced the approval to start construction and excavation works on the Istanbul Water Canal.
What is this project?
It is an artificial water channel project, linking the Marmara Sea in the south, to the Black Sea in the north, which aims to reduce the pressure and congestion of ships on the Bosphorus Strait, which “according to experts” may pose a danger to the population in the adjacent areas, and also aims to revive the area planned to receive This project is both touristic and economical. The project will create a “new island” in Istanbul, which is bordered by the Bosphorus Canal in the east, the Istanbul Water Canal in the west, the Marmara Sea in the south, and the Black Sea in the north.
Project work plan:
The Turkish Minister of Environment and Urban Planning, Murat Kurum, confirmed, in press statements, the approval of plans to develop and build the Istanbul Water Canal, and that his country has taken quick steps to develop Turkey in general and Istanbul in particular. Qurum responded to citizens’ complaints regarding the issue of the Istanbul Water Canal, approving the construction of 3 construction projects with a total area of 106 thousand square meters. The length of the Istanbul Water Canal is 45 thousand square kilometers, and the excavation work is expected to be completed by the next 2026, at an estimated cost of 75 billion Turkish liras. The canal has a daily capacity of 185 ships. The Istanbul Water Canal is expected to enhance the real estate sector in the areas on which this canal is built. As these areas are expected to achieve a high investment value that starts to rise from this moment on, and the percentage of real estate prices in them may reach more than 200% of the real estate value before approving the implementation of the decision to dig and establish the Istanbul Water Canal project.