Turkey Property to be Boosted by ANZAC Investment

Australians and New Zealanders have been visiting Turkey for years to commemorate their grandfathers who fought in the First World War and are now about to participate in a joint tourism investment at an estimated cost of $2 billion. The investment will be a massive boost to tourism and therefore to the property market in the area.

The grandchildren of those who fought have been visiting the North Western province of Canakkale’s Anzac Cove and now plan to build a marina, cruise port and giant living space in Canakkale’s Ozbek village. This will be a joint investment with Tuya Holding and the complex is expected to include hotels, and arts and culture centre, museums and libraries, a shopping centre, golf course, health centres, residences and sports grounds.

This ambitious plan may even include a jointly established foundation university provided a culture agreement between Australia and New Zealand is signed. It’s expected that once the project is complete it will give an annual income of $650 million, although the project is still awaiting permission from Turkish authorities. Construction is expected to begin next year, and according to Sedat Altunay, the foundation for the project will be laid on March 18, 2012 with an official ceremony.

The marina is expected to have capacity for 1000 yachts while the port will be able to host four cruise ships and will also include a ferry dock. This is all being planned ahead of commemoration ceremonies of the hundredth anniversary of the Gallipoli campaign and is expected to be at least partially finished by 2015. Australians and New Zealanders suffered heavy losses at Gallipoli, and April 25 is Anzac day. It’s estimated the project will provide jobs for 20,000 people.

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