The historic Bosphorus Strait plays an important role in the field of global trade, linking the Black Sea with the Sea of Marmara to the Mediterranean Sea, but the annual rise in the number of ships passing through the Strait and increased reliance on maritime transport are all factors that led to the need for a new waterway that reduces pressure from the Bosphorus Strait and benefits Turkey.
Canal Istanbul is a necessity, not a luxury
The reasons we mentioned previously, and many others, led the Turkish President “Recep Tayyip Erdoğan” to propose the idea of creating a water canal parallel to the Bosphorus Strait, which is the New Canal Istanbul. Erdoğan explained that the project had received approval from the Environment Report, and included a study carried out by 56 institutions in which more than 200 scientists participated.
In 2021, Turkish President Recep Tayyip Erdoğan laid the foundation stone for the first bridge of the Canal bridges (out of six bridges), the year in which the Canal project effectively started. Now, almost two years later, the 860 meter bridge is nearly complete, as the attached picture shows.
The nature of the New Canal Istanbul
It is an industrial water canal located in the European part of Istanbul, only 30 km from the Bosphorus Strait. It is 45 km long, 21 meters deep, and with a base width of at least 275 meters. The canal connects the Black Sea in the north and the Sea of Marmara in the south, and Erdoğan stated during his election campaign that “Our project is buildings on both sides of Canal Istanbul that can accommodate a million people”.
The value of the project is $25 billion, $15 billion for the construction of the canal and $10 billion for the constructions surrounding it. Official reports indicate that the canal will generate profits of $8 billion annually, which covers the costs of its construction within only two years.
The importance of investing in the lands of the Canal Istanbul project
Announcing the New Canal Istanbul project led to an increase in land prices in the new city of Yenişehir, especially after large parts of it entered the regulation, and it is expected that the entire city will be regulated soon, following President Erdoğan’s statement during his election campaign in which he was asked about the new city that is being built on the banks of Canal Istanbul by saying, “Through the Canal Istanbul project, protected cities will be built with residential apartments, we will also give people who accept urban transformation projects of their homes places in these new cities”.
This statement is a clear invitation to all investors to quickly seize the opportunity to join this huge development project and double their profits, which may be up to ten times before the canal project is completed and the reconstruction of the new city, whose land prices will not be the same before the regulation as they are after.
Do not hesitate to contact Elhaj Real Estate Group, which specializes in selling lands in Canal Istanbul and the smart city “Yenişehir”, and get exceptional offers with unique features.
Sources
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