Turkey has witnessed in the current period an economic growth at all levels, such as trade, tourism, real estate and many other sectors as the Turkish government made many measures and improvements that led to the development and prosperity of Turkey.
It has carried out many mega projects that contributed to great economic growth and it’s impact is reflected on the country’s activity in the economy, tourism and trade. Mega projects such as Istanbul’s new airport and Istanbul Canal, which represents one of the biggest projects in the World. Turkey’s upcoming mega Project is Istanbul canal with an estimated cost of 15 Billion USD.
Istanbul canal extends from Kucukcekmece lake, which is a natural lake in the Sea of Marmara in western Istanbul, to the Sazlidere Dam in the north, then Shamlar village to reach the Black Sea. The Istanbul Canal has mainly been reflected on the prices of lands surrounding the project, which is expected to rise exponentially.
The main goal of the project is to reduce the burden on the Bosphorus Canal, which is the most crowded straits in the World. Turkish government hopes that the project will generate abundant amounts of profits annually through tariffs paid by ships through their passage. This will also create new job opportunities for young people in all sectors.
The Turkish government has made the the Istanbul canal Project resistant to earth quakes. It will be built in the European side of Istanbul, and the European side will be divided into two parts. The project will change the city geographically, and the canal will be provided with 10 suspended bridges. The project will also push investors from all countries of the world to invest in the areas surrounding the canal and this will ensure the success of the Project.