Announcement of the launch of a giant real estate project on the banks of the Istanbul Canal

The announcement was made for the giant real estate project consisting of 5,785 residential apartments and 437 commercial units, which will be implemented by Emlak Konut GYO on the banks of the Istanbul Canal at the Sea of Marmara. Follow the details with Imtilak Real Estate.

Emlak Konut announces a giant real estate project on the banks of the Istanbul Canal

The Turkish government is accelerating its efforts to establish the Istanbul Canal Project, which is eagerly awaited by the world and has rightfully earned the title of the project of the century. Last year witnessed many executive steps included in the timeline for the project’s establishment, the most important of which was laying the foundation for the first of seven bridges planned to be built along the canal’s route.  

This year saw one of the important steps related to the implementation of the Istanbul Canal Project, which was the announcement by Emlak Konut, the government partner for real estate investment in Turkey, of its massive real estate project planned to be established on the canal’s banks.

Residential and commercial project with direct view of the canal

After a series of studies, discussions, and consultations, Emlak Konut announced that it will establish its giant real estate project at the entrance of the canal in the Sea of Marmara area, extending across six neighborhoods on the banks of Lake Kucukcekmece, in the Firuzkoy area of Avcilar Municipality.  

According to the announcement, the project will be built on a land area of 689,000 square meters and will include 5,785 apartments in addition to 437 commercial units, distributed over 304 buildings, each with 8 floors. The project will also include health centers, educational facilities, and comprehensive services.

Project construction area: more than one million square meters

Regarding the project’s areas overlooking the Istanbul Canal, Emlak Konut announced that the total construction area of its project is 1,340,216 square meters, with 340,000 square meters of the land allocated for roads, children’s playgrounds, walking paths, and other open facilities, in addition to green spaces and gardens covering about 180,000 square meters.  

Housing phase will begin in 2027

Regarding the timeline for completing its giant project, Emlak Konut announced that it will complete the project within five years from the start of work, expecting excavation works to take three years of the total expected period, and that the housing phase for the project’s apartments will begin in 2027.  

Another TOKI project overlooking the canal

On the other hand, the General Directorate of Housing in Turkey, TOKI, announced details of another real estate project to be established on the banks of the Istanbul Canal, specifically in the Baklali neighborhood of the Arnavutkoy area. TOKI stated that it has started preparing the environmental impact assessment report for the project in preparation for starting construction works.  

The TOKI project will be established on a land area of 90,876 square meters and will include 844 residential apartments of 2+1 and 3+1 types in 40 buildings, in addition to 10 apartments for guards, 10 commercial units, a spacious garden, and a mosque.  

According to the timeline set by TOKI, construction works for the project will take 24 months, of which 11 months will be allocated for excavation works.

It is worth noting that the TOKI project will be 259 meters from the Istanbul Canal and 4 km from Istanbul Airport.

Edited by: Imtilak Real Estate©

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