Mega Projects In Turkey Toward 2023 Goals

10 May 2022 Real Estate News

Turkey's megaprojects for 2023

It aims to raise the Turkish economy to a powerful place; it is one of Turkey's megaprojects for 2023. Through these projects, Turkey is expected to enter the list of the world's ten most powerful economies and to rank third in Europe by the year 2023.

While these big plans meet with the 100th anniversary of the declaration of the Turkish Republic, they promise a strong economy that will drive the Turkish state to new levels of global success.

In this article, we will look at:
1. The Istanbul Canal
2. Industrial areas
3. The third airport in Istanbul
4. Intelligent cities
5. Nuclear Power Plant Akkuyu

1. Istanbul Canal

Turkey's megaprojects for 2023: Istanbul Canal

The Istanbul Canal project is one of Turkey's most important megaprojects, with which the Turkish government is principally concerned.

It will be one of the Turkish government's major goals until the next presidential elections in 2023.

The Istanbul Water Canal project's route

According to the published designs, the Istanbul Canal project will run from Lake Kucukcekmece to the Sea of Marmara, then north through the Sazli Dara Dam to the Black Sea east of the Tartus Dam in the Chattalca area of Istanbul.

What is the length of the Istanbul Water Canal?

The canal will be 45 kilometers in length, 400 meters in width, and 20 to 25 meters in depth. Six bridges will be made over it, and a new city will be developed on its banks.

How much does it cost to build the Istanbul Canal?

The Istanbul Canal project is predicted to cost 16 billion dollars,with yearly profits likely to reach 8 billion dollars after its completed.

The Istanbul Canal Project's Economic and Environmental Impact

This massive project is expected to help release traffic on the Bosphorus Strait, which is the world's busiest shipping route. Furthermore, it will minimize the emissions damage caused by ships transporting hazardous goods.

The project will generate additional residential zones. Many highly developed urban developments have already begun in the districts next to the canal path.

 The canal is scheduled to be used by 137 cargo ships and 27 carriers carrying commercial goods weighing 150 million tons per day. Three artificial islands will be formed from the excavations of the new Istanbul Canal, which has a volume of around 2.7 billion cubic meters.

2. Industrial Areas

Turkey's megaprojects for 2023: Industrial Areas

As previously stated, the dirt taken from the Istanbul Canal would be utilized to create artificial islands and other tourist attractions in the Sea of Marmara. The project will be overseen by the Ministry of Transport, Communications, and Maritime Transportation, in collaboration with the Turkish Reconstruction Department.

On the artificial islands, recreation and entertainment centers will be developed, along with other projects such as restaurants and luxury residences. The goal of constructing the islands is to provide many high-quality services, such as cruise boats, that will make traveling to and from the city easier.

3. The Third Airport In Istanbul

Turkey's megaprojects for 2023: The Third Airport In Istanbul

The development of Istanbul Airport began in 2014 as one of Turkey's megaprojects, and the airport was nicknamed the Century Project when it opened in 2018.

However, the majority of the new Istanbul airport will not be built and opened until 2023, at a cost of approximately 23 billion and 399 million euros, of which 10 billion and 247 million euros have been given as construction fees without operational costs.

The 7,659-hectare project overlooks the Black Sea and contains 165 bridges to transfer passengers, as well as a train connecting all airport parties. The airport has six runways for landing and taking off aircraft.

In addition, 3 electronic and technological watchtowers, 8 control towers, and parking places for about 70,000 automobiles will be placed. In addition to an airport for inspecting 500 airplanes at once.

Airport bird radar in Istanbul !

This project is remarkable for including a radar to monitor the movement of birds, which will be the first in the world to develop this technology, in order to reduce the potential impact of birds on aircraft movement to the smallest possible degree and to manage air traffic with the greatest efficiency.

The Economic Impact of Istanbul Airport on Turkey

According to projections, Istanbul's third airport will add around 4.9 percent to Turkey's domestic income production by 2025, with an estimated value of $ 79 billion, and will give more than 100,000 employment possibilities once fully operational.

The Turkish government believes that the new Istanbul airport would elevate Istanbul to the leadership of regional aircraft, tourism, banking, and business. And create Istanbul the country's largest economic and commercial center.

4.  Intelligent Cities

Turkey's megaprojects for 2023: Intelligent Cities

The Turkish government plans to make three Turkish cities into smart cities by 2023. Its main purpose is to make citizens' lives easier by rationalizing usage and keeping it secure.

Sakarya in the Marmara area, as well as Kayseri and Gaziantep, will be smart cities. The construction will begin in Kayseri, where traffic will be reduced by 25%. This is achieved through the use of specific technologies that limit the number of cars on the road and include smart elements that manage the lighting of traffic signals.

Turkey hopes to achieve technology levels that will allow it to compete with the world's leading cities in the technological field with this plan.

5. Nuclear Power Plant Akkuyu

Turkey's megaprojects for 2023: Nuclear Power Plant Akkuyu

The first nuclear reactor in Turkey, which the government says to build at a cost of $20 billion, will generate 35 billion kilowatt-hours of power.

This project aims to improve Turkey's energy security. Also, it will create employment for over 3,500 individuals, which will be expanded once the plant's development reaches its maximum.

It is planned that the Akkuyu nuclear reactor project will be finished by 2023, and that it will be operational in the city of Mersin, southern Turkey, to connect with the centenary of the foundation of the Turkish Republic with this massive project in energy resource exploitation.

In terms of investment and housing, Istanbul real estate developments provide a wide range. If you want to invest in real estate and buy a property in Istanbul, you may contact us, akdinvest , to learn more about our portfolio and projects.

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