Canal Istanbul Profile: In 2011, Turkish President Recep Tayyip Erdogan, who was prime minister at the time, announced several mega projects aimed at increasing the country's GDP, including the Istanbul Sea Canal project.
The Istanbul Canal is an artificial waterway approximately 45 km in length and 275 m in width, and its depth ranges between 20-25 meters. The main goal of establishing this path is to reduce the movement of ships in the Bosphorus Strait.
As for its cost, it was estimated at about 30 billion Turkish liras, and the plan included the establishment of two cities on both sides of the canal, The project will be done in 2023.
The Istanbul Canal will connect the Sea of Marmara with the Black Sea, Its path begins with Lake Kucukcekmece and passes through the regions of Altensehir and Shaheen Bey, then it will reach the Salisbury Dam and then to the Dorsu and Tebkus regions on the Black Sea coast. The canal will pass through several regions, namely: Avcilar, Basaksehir, and Kucukcekmece. The impact of the canal on investment in Istanbul:
The huge projects that are being held on the European side of Istanbul, the most important one is the Istanbul Canal, that encouraged many foreign investors to invest in Istanbul, after it drew their attention to this great swell. This led to a clear rise in real estate and land prices in the Canal area, which led to an increase in the economic value of the region and an increase in investment profits.
Also, this area will receive a large tourist and commercial movement and will receive great government interest, and this is what makes the real estate that will be built in that area a not replaceable investment opportunity.