As Turkish President Recep Tayyip Erdogan announced that a tender will be launched for Istanbul Canal project, as it will cost nearly $ 10 billion for construction, and it will start implementing the project as soon as possible.
Pre-feasibility studies were started in 2009, and the results were announced in 2011. Excavations began in (2017) and ended early in (2018). The foundation stone of the project will be laid after the completion of the tender. The Ministry of Transport has drawn up the initial plan for the project, while the winning company will undertake the task of preparing the implementation plan.
The idea of creating a channel linking the Black Sea with the Sea of Marmara was first proposed in the sixteenth century, and it was proposed at least seven times throughout history, beginning with the reign of the Ottoman Sultan Suleiman Al Kanuni through Sultan Murad III and Sultan Mahmoud II and others, until President Erdogan announced the project while he was prime minister in 2011.
The new Canal will be 45-50 km (28-31 mile) long and 25 meters (82 feet) deep. It will be 150 meters (490 feet) wide on the roof and 120 meters (390 feet) at the bottom of the channel. These dimensions allow the largest ships and submarines to pass through.
For Real Estate Projects:
The construction of the Canal will return with great importance to the Turkish real estate sector, as the real estate that will be built nearby will be a high investment opportunity, as
the region will witness unprecedented government interest. Perhaps the most important points that will distinguish real estate there are: