Canal Istanbul Project
Istanbul Canal Project, A Project that will Change the Face of Istanbul
The Istanbul Canal Project, which dates back to the Roman Empire and came to the agenda during the Suleiman the Magnificent in 1550, it is the idea of creating an alternative waterway of the Bosphorus. In 2011, Recep Tayyip Erdogan, the president of the Republic of Turkey, voiced the project is planned to be implemented today. A tender for the transportation of historical bridges on the route has been carried out recently and the first step has been taken for the project.
One of the Largest Projects in the World
The ship traffic of the Bosphorus, which now hosts 50 thousand ships annually, is increasing every year and this figure is expected to reach 100 thousand in 2050. The reasons such as the high traffic on the Bosphorus, increasing pollution, and the ship accidents occurring on the Bosphorus have been the trigger for searching for alternatives. Istanbul Canal is designed as an alternative passage corridor to the Bosphorus, with an average of 150-160 ship passes per day. It is planned to construct as four times as Panama Canal and 3 times the Suez Canal to serve the ship traffic. This project, it is aimed to shorten the waiting times of the ships on the Bosphorus and minimize the risk of accidents that may occur.
It is planned to establish two smart cities on both sides of the Istanbul Canal. These cities, which will attract attention with their social facilities, green spaces, and technological infrastructure, will bring a new living space to Istanbul. The maximum permissible population in the region is determined as 500 thousand people. Only new constructions in accordance with the horizontal architectural concept will be allowed around Istanbul Canal.
Istanbul Canal Affects Real Estate Market Favourably
The artificial waterway, which will be built on the European side of Istanbul, with a length of 45.2 km, will start from Küçükçekmece Lake. It will be built within the borders of the Küçükçekmece, Avcılar, Başakşehir, and Arnavutköy districts. Land and real estate prices have increased in the provinces in which the Istanbul Canal Project is located, and the value of the real estate has increased. Real estate, which will be further valued by the completion of the project, revived the real estate market in the region. With the Istanbul Canal Project, real estate values in Arnavutköy increased by 50% in 2018, while in Başakşehir increased by 20% in 2019.
The aim of the project, which is planned to be completed in 7 years, is to protect the historical texture of the Bosphorus and to ensure its safety. The first tender was held in March for this project, which will ease the traffic load of the Bosphorus and provide cruise safety. The tender was made to carry the historical bridges on the canal route. Thus, the first step was taken for the construction of the Istanbul Canal Project.
Purpose of the Istanbul Canal Project
- Protecting the historical and cultural texture and increasing the security of the Bosphorus
- Preventing possible accidents by reducing ship traffic in Bosphorus
- reducing Bosphorus pollution
- Ensuring cruise safety
- Establishment of a new waterway open to international sea traffic in Istanbul
- Creating a modern residential area based on horizontal architecture