Will the Turkish Canal Project Go-Ahead After All?

Olympic Sized Pool at Crystal Heights Development - TurkeyRecep Tayyip Erdogan was recently re-elected to Parliament for another four years, and during his campaign he had put forward a number of somewhat different schemes including a plan to build a canal which would bypass the Bosporus. Now it looks as though this scheme might actually go ahead.

If plans to build the canal become a reality it could prove to be an enormous boost to the Turkish economy and the Istanbul property market in particular. It will be one of the largest construction projects in the world and would involve bringing in a number of building and contractor firms from around the world, all of whom would require some sort of accommodation, which is likely to be rented but could also be bought.

These firms will be employing enormous numbers of Turkish tradesmen, often on far better salaries than local firms could afford to pay, and this will lead to increased affluence so that more people will be able to move into their own properties, whether bought or rented.

A huge variety of accommodation will also become necessary, as project managers will require luxury homes, while more basic accommodation will be needed for lower-level workers.

Apparently there are plans for the canal to be completed by 2023, even though a start date has yet to be fixed. Feasibility studies are scheduled for April next year. This project will take many years to complete, providing a valuable boost to the property market for a very long time.

The concept of a canal linking the Black Sea with the Sea of Marmara is nothing new, as the idea has been put forward at least seven times in history.