It is one of the major projects which ends in 2023, it is described by the Turks as “the project of the era” and as “the largest project to be done in the history of the Turkish Republic.”
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.
Project announcement throughout history:
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.
Reasons for Creation:
The idea of creating artificial channels is not new. Suez Canal as well as in the Panama Canal were implemented previously. That is why building a project like the New Istanbul Canal is economically important for the country, as the water crossings generate significant national income.
Another reason for the idea of creating another parallel channel is the great pressure on the Bosphorus.
In addition, because the new Istanbul Canal, unlike the Bosphorus Canal, will be built on uninhabited lands, and building the infrastructure of the regions on the outskirts of the Canal will be easier than the Bosphorus Canal, which contains old areas.
First: In general:
The Canal project enhances Turkey’s position in the field of water crossings, where the canal connects the Sea of Marmara with the Black Sea in the European part of Istanbul.
The project will also reduce the damage caused by ships carrying dangerous materials, as well as remove the random buildings located along the channel’s path.
The opening of the Canal will also reduce congestion, pollution and noise in the Bosphorus Strait, and in return, it will enhance the benefit of the strait in tourism activities and water sports, given its tourism location in the heart of the historical area of Istanbul, as well as areas that will be built near the Canal will be of great importance.
Second: 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:
- Close to a waterway road linking the Istanbul airport and the city center.
- Close to 3 artificial islands that will be built from the ruins of the canal, one of which is an opera house.
- The area will witness a large commercial traffic, as the new channel will be concerned with commercial traffic and the Bosphorus will be for tourist traffic.
- Projects close to the Canal will have a great view.
- The Canal will be near Istanbul airport and therefore the concessions will double.