The need for the construction of the new Istanbul Canal arose after the intense pressure on the recent Bosphorus Canal, which has become a corridor for commercial ships and cruise ships, which led to congestion in this waterway, and this called for thinking about establishing a new water canal parallel to the Bosphorus Canal, dedicated to commercial marine navigation. As we will see in this article.
Important information about the new Istanbul Canal:
We will put in your hands some important information about the new Istanbul Canal, which has earned it this strategic importance:
The new canal will be dedicated to commercial marine traffic, and this will be accompanied by the necessity of having many commercial facilities and business centers near the canal to stimulate commercial traffic in the region and this will benefit the Turkish economy and the Turkish real estate market due to the expected increase in the expected volume of commercial real estate in the region.
A new investment environment will be established on the banks of the new canal, fully equipped with all the modern elements that stimulate the rush of construction, engineering and real estate companies to establish a number of real estate projects in all areas of residential, commercial and tourist real estate investment.
The proximity of the new Istanbul Canal to the new Istanbul Airport is also an exceptional investment advantage that encourages real estate investment in the vicinity of the canal.
Disclosure of the construction of three artificial islands that constitute a wide field of real estate investment for the reconstruction and rehabilitation of these islands with various facilities, facilities and real estate.
The new Istanbul Water Canal will be a new and distinguished location for real estate investment due to the serious sea view of the apartments and real estate that will be spread on the banks of the new Bosphorus.
An unprecedented expected economic activity in the economic movement, which will positively reflect on the renaissance of the various sectors of the country by collecting huge investment returns that cover the costs of establishing the canal within years while achieving the expected profit margin, through the increase in the volume of real estate projects expected to be contracted with from various Arab countries and the European Union with the approaching year of the expected opening, which is 2023.
The importance of the Istanbul Water Canal in the field of maritime navigation:
The Istanbul Water Canal is of strategic importance through the number of ministries that have contributed to the discussions and preparatory studies for this huge project. Among these ministries are the Ministry of Transport, Maritime Navigation, Environment, Forest Affairs, Water, Food and Agriculture, Energy, Natural Resources and Livestock in cooperation with an integrated cadre of local and foreign expertise to be aware of all the scientific, technical and economic aspects of the new Istanbul Canal project, whose importance lies in the following points:
The economic importance of the canal:
Waterways have been considered an important economic resource for the country since ancient times. This resource comes from the maritime navigation fees imposed on ships passing through the sea crossings of a particular country. These fees vary according to the different ships, ferries, boats and containers that cross the canal, and the different goods loaded on board. The fees vary according to the fee collection system followed and agreed upon between the two parties to the commercial transactions (CIF-FOB), so that tourist trips have different fees as well. All these fees are considered a very huge economic resource that flows into the state budget. The opening of the new Istanbul Canal necessarily means opening a new economic resource. It is very important to the Turkish economy.
2. Allocation of the new canal to merchant ships:
This canal is the only sea crossing towards the Black Sea, and it is one of the busiest seaports with daily tourist and commercial trips from the same strait.
The number of these trips in one year reached nearly forty thousand trips annually. As it is well known that the congestion of the maritime navigation route is one of the dangerous matters that expose the passing ships to serious damage, and may incur heavy human and material losses. Which called for the necessity of having another canal parallel to the Bosphorus, which is the new Istanbul Canal dedicated to commercial navigation. The former Bosphorus canal will be restricted to cruise ships.
3. The new Istanbul Water Canal is a new tourist investment:
Preliminary studies indicate that the New Istanbul Canal will be built on a floor area that is not previously occupied by buildings, and therefore the area will be equipped with completely new, modern and integrated infrastructure, facilities and services, which prepares the ground for real estate investment in all its forms in the canal area. Which will lead to its transformation into a unique tourist area rich in various facilities, in addition to the construction of three artificial islands from the output of the canal excavations, and it is rumored that one of them will be a water opera house.
4. Istanbul Water Canal is a new economic investment:
In terms of international conventions in the field of maritime navigation, the Montreux Convention, which was concluded with the aim of regulating maritime traffic through the Bosphorus Canal towards the Black Sea, has reduced the fees for ships passing through the Bosphorus Canal and has deprived Turkey since that time of billions of dollars. The existence of the new Istanbul Canal will not be subject to these The agreement will, therefore, compensate Turkey with these capitals, which will flow entirely into the Turkish budget. The preliminary statistics indicate that the number of marine navigation movements expected to pass daily through the new Istanbul Canal is approximately 150 marine transport movements with loads of up to 150 million tons per day, which will be subject to transit fees through the new canal.
5. The current Bosphorus Strait will be allocated to the transit of cruise ships, activities, events and international water competitions, due to the location of the current strait in the heart of the old city of Istanbul, which leads to alleviating the environmental pollution caused by the current severe congestion in the strait due to the passage of cruise and commercial ships in the same canal.
6. The Istanbul Water Canal constitutes a new challenge for Turkey in the field of maritime navigation, after the city of Istanbul has expanded significantly and the volume of maritime navigation through the only existing channel has increased, which called for thinking of a parallel channel to that channel linking the Black Sea to the Mediterranean, and Turkey is moving with it to a new horizon from the success of the investment through maritime navigation.
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