Turkey announces the first residential project overlooking the canal
Last Updated: 2022-02-16While discussions on the Istanbul Canal projects continue, zoning works for the new "smart" city to be built on the banks of the canal in Arnavutkoy district have already been completed. Although no excavation work has been carried out yet, permission has been granted to start some infrastructure works for the first housing project in the area.
Emlak Konut is the largest investor
Sales movements in the area of Canal Istanbul "which has a length of 45 kilometers starting from the point separating the Sea of Marmara from Lake Kucukcekmece reaching the Black Sea" says that there are many investors who have accumulated land significantly for several years. One of the investors is Emlak Konut Real Estate Investment Fund, which signed the largest real estate purchase in the region, as the company purchased 3 million 639 thousand 116 square meters of land in the Arnavutkoy district in 2013, after which it signed a partnership contract with THY Company in 2018. While the company named THY Airport Real Estate Investment and Management paid 312.5 million liras + VAT To develop a residential project consisting of 64 plots of land.
Accommodations for airport employees in the first place:
The apartments to be built in this project will be sold to Istanbul Airport employees in the first place, and 50% of the proceeds of the residential complexes will go to Emlak Konut and 50% to THY.
The first residential project in Istanbul Canal designed by the most famous architects of Turkey:
The architect of the project is Shafik Bayrakiya, he is the architect of the presidential complex built in Ankara, and he is the designer of the most famous 7 modern mosques built in Turkey during the past years, including the Taksim Mosque, and among his works are the Presidential Campus in Marmaris, the Bizim Mahalle project of Emlak Konut in Halkali, and the Central Bank Building which was built in the Istanbul Financial Center.
10 thousand housing units overlooking the new canal
The project, which is supervised by the engineer Shafik Bairaqia, consists of 10,000 independent units. It will also include parks and sports fields, and the final designs and organizational plans are expected to be completed in the coming months.
Real estate Articles
Real estate News
