Kanal Istanbul is the project name, given to an artificial sea-level channel, which will connect the Black Sea to the Sea of Marmara. The government first announced the project in 2011, calling it their “wild project.” During a recent statement, Turkey’s Minister of Transport, Maritime Affairs and Communication announced that the bidding for the project would start in 2016. Even this announcement has caused quite a stir in the Istanbul property market. There is also a debate going on regarding the feasibility of the project and its possible effects to the environment. Nevertheless, it is a project that makes everyone curious and now, with the latest announcement, the excitement has doubled. So, whether you plan to invest in Istanbul or just want to explore it as a tourist, here is everything you need to know about Turkey’s “wild project.”
Historical Heritage
The concept of a channel like Kanal Istanbul is not new. In fact, it was Ottoman sultan Suleiman the Magnificent, who first proposed a similar project. His famous architect Mimar Sinan was said to make the first plans, although this has not been confirmed and the project was later abandoned for unknown reasons. Sultan Murad III, Sultan Mehmed IV, Sultan Mustafa III, Sultan Mahmud II have been among Ottoman Sultans, who have shown interest in the project, but no development has been made. In 1994, the leader of the Democratic Left Party (DSP) Bülent Ecevit proposed a similar project before the elections. Finally, in 2011, Turkey’s ruling party AKP announced the project for the final time. Due to this long historical heritage, the project has a special meaning for the Turkish people.
Project Details
Kanal İstanbul is being planned on an area almost 70 million square meters in size, on the European side of Istanbul. When completed, it would be 400 meters wide, 43 kilometers long and 25 meters deep. The area chosen for the project is close to the site of the new airport that will open in 2018 as well as the Northern Marmara Highway being built in conjunction with the Third Bosphorus Bridge. The area includes the Arnavutköy province and its Bolluca, Haraççı, Boğazköy, Boyalık, Yeniköy ve Taşoluk neighborhoods as well as the Başakşehir province and its Kayabaşı, Bahçeşehir ve Ziya Gökalp neighborhoods. After the announcement of the project, these neighborhoods have been on the radar of everyone planning to invest in Istanbul. The main purpose of the project is to reduce marine traffic through the Bosphorus Strait and the pollution caused by vessels mooring in the Sea of Marmara. It is also estimated that a new province with five hundred thousand inhabitants will be established on both sides of the channel. There has already been a 700% increase in prices per square meter in the area. So if you are planning to buy Istanbul property, make sure you follow the developments regarding the project.