Features of the urban project on both sides of the Istanbul Canal

After laying the first foundation stone for the new Istanbul Canal project, the canal projects began to accelerate, as the architectural plans for the city adjacent to the path of the new Istanbul Canal project were announced. This city, which will be built near the canal, will contain houses and apartments within complexes with a total capacity of 500 thousand people. And many tourist and commercial facilities as well. The project will be designed by the architect of the Turkish presidential palaces and government facilities, Shafik Baraka, and according to a report published by the Turkish newspaper Sözcü, the architect Shafik Baraka will be responsible for designing this city.

Who is Shafiq Baraka?

He is the architect of the presidential palace of the Republic of Turkey and has a long history in designing presidential palaces and government facilities in Turkey. He will be responsible for designing and building the project of the city adjacent to the Istanbul Canal, the largest real estate project. 7 mosques in Turkey, the most famous of which is the Taksim Mosque, in addition to many facilities and projects, the most important of which is the construction of the Central Bank of Turkey.

Great real estate activity in the region

The implementation of some construction projects for the construction of the city has now started, starting with obtaining the permits and licenses necessary to carry out construction work and issuing title deeds for the lands to be started. The region witnessed great changes in terms of buying and selling real estate, especially lands, as many real estate investors bought lands near the canal path.

Emlak Konut has the largest share

The largest share of the land near the path of the canal on which the city will be established is owned by Emlak Konut Company, the government partner in Turkish real estate investment. The plot of land is located in the Dorsunkoy neighborhood, which is a neighborhood belonging to the Arnavutkoy region, and the land area is about 3,639,116 square meters. square metres. It was sold to Emlak Konut by Yildiz Holding in 2013. On June 7, 2018, Turkish Airlines Emlak Konut participated in half of the land. Turkish Airlines Airports Real Estate Investment Company bought half of the land for an added 312.5 million TL. To it the value added tax, and it was agreed to start preparing the project there in 64 sections of this land.

Residential and commercial properties in the city

The Istanbul Canal City project will include 10,000 individual real estate units and will include many parks, gardens and sports facilities. The Turkish Ministry of Environment and Urban Planning granted initial permits to the two companies that will take over the project and approved the initial construction plan. The project will be utilized to meet the housing needs of Istanbul, and part of it will be sold to employees The workers at Istanbul International Airport, Emlak Knut and Turkish Airlines will share the profits equally between them.

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