Table of Contents
- New urban development projects in Istanbul
- 1-New Istanbul Airport
- 2-The Botanical Garden in Basaksehir
- 3-Civilizational development project in the Fakir Tepe area of Kadikoy
- 4-Real estate transformation project in Kartal
- 5- Galata Port Mall
- 6-Istanbul Arsenal Project
- 7-Eurasia Tunnel
- 8-Istanbul Third Bridge
- 9-Istanbul Canal Project
- 10-People's Park Project at Ataturk Airport
We are writing this article in late 2023, shedding light on the escalating significance of real estate investment feasibility in Istanbul and our expectations for the year 2025 and beyond.
Our focus on Istanbul, rather than Turkey as a whole, is driven by the intent to discuss the best types of real estate investment opportunities and the expeditious achievement of substantial returns. While other Turkish cities are suitable for housing or summer getaways and offer some investment prospects, Istanbul stands out due to the substantial difference in rental demand and potential for resale.
Geographically, Istanbul is the only city in the world that spans two continents – Europe and Asia – separated by the Bosphorus Strait, a critical waterway in the Black Sea region. The Bosphorus links the Black Sea and the Sea of Marmara, and through the Dardanelles Strait, the Sea of Marmara connects to the Aegean Sea, making it a pivotal water route in the entire region.
Istanbul comprises 39 municipalities, with 24 in the European section and 15 in the Asian section. The city's unique position provides it with the Black Sea and Sea of Marmara coastlines, in addition to the iconic Bosphorus Strait. Istanbul also boasts two lakes, Kucukcekmece and Buyukcekmece, ensuring that many areas offer sea or lake views. This has contributed to the growing significance of maritime transport, especially since the city's unplanned expansion often results in congestion during peak hours. Sea taxis and public maritime transport alleviate this pressure, while the constantly expanding public transportation network, both above and below ground, further improves mobility.
The picture above seems difficult to read as it represents public transportation lines in Istanbul.
It's important to note that Istanbul's public transportation system remains highly efficient even during rush hours, making it easy to move around the city. Even the longest transportation line, the Marmaray Metro (spanning 80 km), offers tickets for less than a dollar.
The fusion of modern technology with reasonable prices in Istanbul's public transportation system is a fundamental pillar of real estate investment. This combination reinforces the investment potential and creates a more attractive environment for prospective investors.
Using public transportation is a delightful experience in Istanbul. For instance, when traveling from the Eminonu or Besiktas areas to the Asian side in Uskudar or Kadikoy, transportation means include ships, which also offer tourists a scenic tour.
Notably, Istanbul's transportation network is not confined to the city center but is continually expanding in all directions. Even in the central areas, there is ongoing development to connect new lines to sub-neighborhoods.
The completion of old metro lines does not imply the end of development. Projects like the Istanbul Airport Metro, which connects to Kaytana from Taksim Square and extends to the new Istanbul Airport via Halkali and Kayaşehir, exemplify the commitment to expanding and upgrading the city's transportation infrastructure.
The white lines on the map represent upcoming metro lines to be introduced in the coming years, in addition to various other land, sea, and road connections.
Moving forward, we will outline the various civilizational development projects in Istanbul and provide explanations for each:
New urban development projects in Istanbul
1-New Istanbul Airport
Istanbul's new airport is considered a pioneer in the aviation industry and contributes to strengthening Istanbul's position as one of the most prominent global cities.
The airport provides direct air links to many national and international destinations, allowing passengers to reach their destinations with ease.
In short, Istanbul New Airport is a huge project that reflects Turkey's progress in the field of aviation and welcomes travelers with its advanced facilities and services. The airport is an ideal destination for travelers who want to explore Istanbul or travel to different destinations around the world.
Istanbul's new airport, also known as "Istanbul Grand Airport" or "Istanbul Third Airport," is one of the world's most modern airports and a significant mega-project in Turkey.
Opened officially in October 2018, it replaced the old Ataturk Airport and positions Istanbul as a global flight destination.
The airport's strategic location in Arnavutköy on the European side, its vast size, and modern facilities, including numerous shops, restaurants, hotels, and advanced information and security systems, make it a focal point for travelers and investors alike. It's a testament to Turkey's progress in the aviation sector.
2-The Botanical Garden in Basaksehir
The Botanical City in Basaksehir is an inspiring model for sustainable development in cities. The city's vision reflects its commitment to protecting the environment and promoting the balance between nature and urbanity.
The presence of plants and green spaces in the city enhances the health and well-being of residents and works to create a more attractive and sustainable environment for everyone.
Başakşehir is a distinctive destination for visitors and residents who want to live in a renewable and sustainable urban environment with great interest in plants and nature.
The Botanical City in Basaksehir is a pioneering urban project designed to create a sustainable and eco-friendly environment by incorporating green spaces throughout the city's infrastructure. This innovative concept promotes urban gardening, improving air quality, providing shade, reducing heat, and enhancing the city's aesthetic appeal.
The city encompasses walking and cycling areas, gardens, parks, schools, hospitals, malls, restaurants, and cafes, catering to residents' needs and quality of life.
3-Civilizational development project in the Fakir Tepe area of Kadikoy
The Urban Development Project in the Fakir Tepe area in Kadikoy is a comprehensive project that aims to transform this area in Istanbul, Turkey, into a modern and developed urban center. Located in the Kadikoy district on the Asian side of Istanbul, Fakir Tepe is part of the city's redevelopment initiative.
The Fikre Tepe civilizational development project includes several initiatives and improvements in infrastructure, public facilities, and the development of the surrounding areas. The project is implemented in cooperation between the local government, private companies and investors with the aim of promoting the economic, social and cultural development of the region.
Initiatives implemented in the Think Tepe project include infrastructure development, including improving the road and public transportation network and providing modern water, sanitation and electricity facilities. The project is designed to improve the quality of life and provide comfortable and integrated services to local residents and visitors.
In addition, the project includes the construction of business and commercial centers and entertainment and leisure areas. These facilities aim to enhance economic activity, provide job opportunities in the region, and create a vibrant and prosperous urban environment.
Cultural and heritage elements are also included in the Tepe Thought project. Important historical and architectural sites in the area have been preserved and rehabilitated into tourist and cultural attractions. The project also seeks to promote culture and arts and provide spaces for cultural performances and events.
The urban development project in the Fikir Tepe region aims to make the region an integrated, multi-use destination that combines housing, business, entertainment, and culture. The project is an opportunity to transform this area into a prosperous and sustainable community with a high quality of life.
The Think Tepe project in Kadikoy reflects the commitment of the local government and investors to transform the region into an advanced urban center that meets the needs of the population and promotes comprehensive development in the region. The Fikre Tepe project is expected to have a positive impact on the local economy, tourism, and quality of life in the region, and represents an inspiring model for city development in Turkey and other regions.
4-Real estate transformation project in Kartal
The Kartal Real Estate Transformation Project is a notable urban initiative aimed at modernizing and developing the Kartal district in Istanbul, Turkey. Kartal, situated on the Asian side of Istanbul, is a pivotal component of the city's urban rejuvenation strategy.
This ambitious project encompasses a comprehensive overhaul of infrastructure and the enhancement of public amenities and services within the region. Collaboration between local authorities and private investors is at the heart of this endeavor, with the shared goal of advancing economic and societal progress within Kartal.
The measures introduced under the Kartal Real Estate Transformation Project encompass various facets of infrastructure development. These include the enhancement of road networks, public transportation systems, and the provision of contemporary water, sanitation, and electricity facilities. These improvements are intended to elevate the quality of life and deliver convenient and integrated services to the local population and visitors alike.
Furthermore, the project encompasses the establishment of commercial centers, entertainment zones, and shopping districts. These facilities are designed to invigorate economic activity, generate employment opportunities within the area, and enrich the shopping and entertainment experiences for residents and visitors alike.
In addition to its economic aspects, the Kartal Real Estate Transformation Project places considerable emphasis on preserving the cultural and historical heritage of the region. Key historical and architectural landmarks in Kartal are being conserved and repurposed as tourist attractions and cultural venues. Spaces are also allocated for cultural performances and artistic events, fostering a richer cultural life in the region.
Ultimately, the goal of the Kartal real estate transformation is to create a multifaceted, integrated destination that combines housing, commerce, entertainment, and essential services. This project presents a unique opportunity to transform Kartal into a thriving and sustainable urban community that offers a high quality of life.
The Kartal Real Estate Transformation Project underscores the commitment of local authorities and investors to evolving the region into a forward-looking urban hub, catering to the diverse needs of its residents. The project also takes a keen interest in providing suitable housing options, with an emphasis on creating high-quality residential units and integrated residential facilities. This approach is designed to enhance the overall quality of life and ensure safe and comfortable housing for residents.
It is expected that the Kartal real estate transformation project will yield a positive impact on the local economy by promoting commercial activities, tourism, and job creation. This initiative represents a commitment to sustainable development, fostering environmental, social, and economic sustainability within the region. The joint efforts of the local government and investors aim to make Kartal an appealing destination for both investors and residents by enhancing the overall environment and providing essential services and economic prospects.
It's important to note that the project may encounter challenges and difficulties during its implementation, including environmental, social, and regulatory considerations. Nonetheless, the long-term benefits of this project are expected to far outweigh any initial challenges, contributing to the region's development, and enhancing the quality of life for its residents.
5- Galata Port Mall
Galata Port Mall is a comprehensive commercial and entertainment complex located within Istanbul's Galata district, Turkey. This mall is an integral part of the broader initiative to transform the historic Galata port into a contemporary tourist and cultural destination.
Built upon the site of the former seaport, Galata Port Mall has undergone extensive renovation and transformation, emerging as a modern and all-encompassing shopping and entertainment destination. The complex features an array of retail outlets, restaurants, cafes, and entertainment spaces.
Galata Port Mall provides a distinctive and immersive shopping experience, offering a wide range of products from renowned international brands to local favorites. Visitors are treated to a shopping environment that is both modern and comfortable, complete with enticing offers and discounts.
The mall also houses a diverse selection of dining options, including restaurants and cafes that serve a variety of cuisine, both local and international. Visitors can unwind and savor delicious meals or enjoy a cup of coffee within a relaxed and inviting ambiance.
Complementing its retail and dining offerings, the mall boasts entertainment areas that encompass a range of activities and events. These include a video game arcade, a family-oriented entertainment center, and a cinema hall, providing a diverse array of recreational experiences for visitors.
Situated in the heart of the Galata district, Galata Port Mall enjoys a central location that attracts both locals and tourists. Visitors have the opportunity to explore the nearby historic neighborhoods and discover the multitude of attractions in the vicinity, including the iconic Galata Tower and the renowned Istiklal Street.
In summary, Galata Port Mall presents a holistic and enjoyable shopping experience for visitors. It also offers entertainment options and other services, making it a favored destination for both shoppers and those seeking a memorable time in Istanbul.
6-Istanbul Arsenal Project
The Istanbul Arsenal Project is an ambitious endeavor aimed at the comprehensive transformation of the former naval arsenal area in Istanbul, Turkey. This initiative seeks to convert this historically significant location into an integrated destination, encompassing tourism, culture, and commerce. The project aims to reinvigorate the cultural and historical legacy of the area while simultaneously establishing it as a modern urban hub offering diverse experiences to both visitors and local residents.
Stretching along the eastern coast of the Kadikoy Peninsula, the Istanbul Arsenal District has a rich history dating back to the 12th century. Once a hub for constructing and maintaining naval vessels and weaponry, it played a pivotal role in Istanbul's maritime activities.
The Istanbul Arsenal Project envisages the transformation of this area into a multifaceted tourist and commercial complex. It will feature luxury hotels, dining establishments, retail outlets, shopping malls, museums, art galleries, and recreational facilities such as parks and theaters. Importantly, this transformation will preserve and harmoniously blend the original historical and architectural elements with modern infrastructure.
The Istanbul Arsenal Project is poised to become a prominent tourist attraction within the city. It offers opportunities to revel in breathtaking sea views and landscapes while serving as a hub for cultural events, arts, and commerce. Visitors can anticipate a dynamic mix of cultural activities, shopping experiences, and entertainment, all within this unique locale.
Furthermore, the Istanbul Arsenal Project contributes to the city's broader efforts to develop coastal areas and harness the tourism and economic potential of the Mediterranean. The project is expected to captivate investors and visitors from around the world, thereby enhancing economic growth and generating fresh employment opportunities in the region.
The Eurasia Tunnel represents a remarkable engineering feat that connects the European and Asian segments of Istanbul, Turkey. Opened in December 2016, this undersea tunnel serves as a pivotal infrastructure project that enhances the city's transportation and communication networks.
The Eurasia Tunnel extends beneath the Bosphorus Strait, spanning approximately 5.4 kilometers in length. It comprises two traffic lanes in each direction, each equipped with advanced traffic control systems. The tunnel provides a direct conduit connecting the Kazlıçeşme district on the European side with Kadıköy on the Asian side of the city.
The Eurasia Tunnel significantly alleviates the longstanding issue of traffic congestion in Istanbul, effectively reducing travel times between the European and Asian sectors. The tunnel emerges as a crucial choice for travelers seeking expedient transit between the city's two diverse sections, thereby enhancing traffic flow and mitigating congestion on other bridges across the city.
The tunnel is accessible to various types of vehicles, including cars, buses, and motorcycles, with a toll fee applied for usage. It operates around the clock to accommodate the transportation needs of travelers.
Ultimately, the Eurasia Tunnel serves as a vital addition to Istanbul's infrastructure, enhancing the city's capacity for managing traffic and boosting connectivity between the European and Asian parts of the city. It also represents an extraordinary engineering achievement, reflecting the technological advancements in the field of transportation and communication within the region.
8-Istanbul Third Bridge
The Third Bosphorus Bridge, also known as the Yavuz Sultan Selim Bridge, is an imposing structure that spans the Bosphorus Strait within Istanbul, Turkey. Officially inaugurated in August 2016, this bridge is part of the broader Northern Marmara Motorway Project, designed to enhance and expand the transportation infrastructure in the region.
Istanbul's Third Bridge stretches along the Bosphorus, connecting the city's European and Asian sectors. This bridge stands out due to its contemporary and substantial design, featuring a total length of approximately 2.2 kilometers. Comprising two lanes for traffic in both directions, the bridge is equipped with advanced traffic control systems, underscoring its position as an outstanding engineering achievement that mirrors the technological advancements in civil engineering.
The Third Istanbul Bridge has a dual purpose: it plays a pivotal role in mitigating traffic congestion within the city while improving transportation links between the European and Asian sides. This bridge serves as a critical route for the movement of trucks and heavy vehicles throughout Turkey, offering a direct and efficient path for the transport of goods and materials between the country's European and Asian sectors.
Additionally, the Third Istanbul Bridge contributes to the strengthening of the local economy and the development of the surrounding area by streamlining traffic flow and bolstering trade and investment opportunities. Furthermore, it provides a picturesque vantage point from which to admire the city's beauty and the scenic Bosphorus Strait. The bridge holds an iconic status within the city and is a sought-after tourist destination for visitors keen to relish Istanbul's breathtaking natural surroundings.
9-Istanbul Canal Project
The Istanbul Canal Project is a substantial initiative aimed at constructing a new waterway that connects the Sea of Marmara and the Mediterranean Sea within Istanbul, Turkey. This grand project is envisioned to address traffic congestion within the Bosphorus Strait, improving maritime transportation in the region.
Key details regarding the Istanbul Canal Project include:
Objective: The project's primary objective is to create an alternative waterway to the Bosphorus Strait, thus mitigating traffic congestion and enhancing navigational safety.
Proposed Route: The canal is expected to follow a route spanning approximately 45 kilometers, commencing from the town of Çılburnu on the Black Sea and culminating at the town of Durakul on the Sea of Marmara.
Dimensions and Capacity: The canal is projected to boast a width of roughly 400 meters and a depth of around 25 meters, facilitating the passage of large vessels. The project incorporates the construction of ports and loading/unloading areas.
Environmental Impact: A strong emphasis is placed on evaluating and monitoring the environmental impact of the project, with a focus on maintaining ecological equilibrium and protecting the natural surroundings.
Economic Impacts: Anticipated economic benefits include bolstering commercial activities, stimulating investments in the region, and generating fresh employment prospects.
It is essential to note that the Istanbul Canal Project remains in the planning and implementation phase and is yet to be completed. Finalizing the project may necessitate several years and additional regulatory approvals.
10-People's Park Project at Ataturk Airport
The People's Park Project at Ataturk Airport is an innovative undertaking designed to establish an extensive green area within Istanbul's Ataturk Airport. This visionary project seeks to provide travelers and visitors with a serene outdoor space where they can unwind and enjoy nature before or after their flights.
Crucial information about the People's Park Project at Ataturk Airport includes:
Location: A designated area within the airport has been earmarked for the creation of the park, with a vision to craft a verdant oasis in the heart of the city.
Facilities: The project encompasses public amenities such as green spaces, trees, walking paths, benches and seating areas, fountains, and small lakes. These amenities aim to cultivate a tranquil environment infused with natural beauty.
Environmental Design: The People's Park is meticulously designed with a focus on environmental sustainability, incorporating water conservation, recycling measures, and the utilization of native plant species.
Benefits: The project's principal goal is to furnish a natural sanctuary for travelers and airport visitors. It provides an atmosphere of serenity, fresh air, and scenic beauty, enhancing the overall quality of life and offering a healthier and more joyful environment.
It should be acknowledged that the People's Park Project at Ataturk Airport may be subject to alterations and further developments, with designs and facilities possibly adapting to future demands and prerequisites.
In conclusion, this article explores the notable development projects shaping Istanbul's urban landscape. These endeavors are poised to significantly influence real estate investments, heightening returns for stakeholders. In previous articles, we delved into the fundamental tenets and feasibility of real estate investments. This piece serves as a complementary exploration of the extensive initiatives transforming the city. It's essential to recognize that, despite potential challenges and hurdles during implementation, these initiatives hold the promise of delivering enduring benefits by advancing the region's development and enhancing the quality of life for all residents and investors.
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