The vision of the Justice and Development Party in the Turkish real estate sector
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The vision of the Justice and Economic Development Party
The dream is the basis of every project, and our future is not fully manifested if we do not have dreams to seek. Genius ideas begin with a dream, as is the case with the “Canal Istanbul Project” announced by Turkish President Recep Tayyip Erdogan at the beginning of his electoral campaign, in an attempt to develop the city Architecturally, economically and environmentally, although the project sent a warning message to the international community that challenges the Montreux Convention regulating freedom of navigation in and around the Bosphorus Strait.
The project of the Istanbul Canal was announced on January 15, 2018, when Erdogan expressed his intention to open a new canal linking the Black Sea and the Sea of Marmara called the Istanbul Canal, with a length of between 45 and 50 km, until it was known to people as “Erdogan’s dream.”
Speaking in the framework of the Justice and Development Party’s campaign for the parliamentary elections, Erdogan declared that the main objective of the Istanbul Canal project is to divert ship traffic from the Bosphorus to the new canal in order to mitigate the danger of this navigational movement on the historical city and its residents.
Turkish President Recep Tayyip Erdogan
Environmental Advantages
It should be noted that Turkish official statistics speak of 137 cargo ships and 27 tankers crossing the Bosphorus on a daily basis, carrying commercial cargoes weighing 150 million tons, including 100 million tons of crude oil. The Turkish president was very keen to explain the environmental advantages of the (Canal Istanbul Project) by emphasizing that the new canal will significantly reduce the crowded sea traffic in the Bosphorus, so that Istanbul will return to its previous era, and will address accidents that will lead to collisions between oil tankers and a leak Its loads to the waters of the strait and the potential environmental repercussions, and this is what the Istanbul Canal project will provide, especially the protection of the marine and plant nature in the city of Istanbul and its surroundings.
Erdogan was not satisfied with that, but he also expressed his desire to build a new city on both sides of the Istanbul Canal, as well as a third airport that is larger than its current counterparts, in addition to establishing centers for conferences and celebrations, hotels and special facilities, and holding exhibitions and sporting events on both sides of the new strait.
Turkish Justice and Development Party
- Establishment and establishment:
The Justice and Development Party was formed on August 14, 2001 by the dissident deputies of the Islamic Virtue Party, which was dissolved by a decision of the Turkish Constitutional Court on June 22, 2001, and they were considered the renewal wing of the Virtue Party. The number of its founding members was 63, headed by Recep Tayyip Erdogan, who was elected the first leader of the party. During his presidency, the organization witnessed successes with regional and global resonance. - Intellectual Orientation:
This party represents the moderate Islamic wing in Turkey, and is keen not to use religious slogans during its political speeches, and confirms that it is a party that respects religious and intellectual freedoms and is open to the world and builds its policies on tolerance and dialogue, not on religious fanaticism or ideological orientation. The party also affirms that it does not reject secularism and the values on which the Republic of Turkey was founded. It also agrees with Turkey’s accession to the European Union, and continues to work in implementing the economic reform program that guarantees the improvement of social and architectural conditions in Turkey. - Objectives and Principles
The party affirms that it is a political party that respects Turkish laws, and strives to preserve and unite the Turkish nation, by sponsoring the religious, cultural and intellectual diversity of the people of the country, rejecting all forms of discrimination, racism and discrimination, and seeking to respect all political rights of citizens within the system Democratic pluralism, respects freedom of expression. The most important thing is his affirmation of the tireless work for the advancement of Turkey at the urban and investment levels, and interest in establishing real estate projects that would stimulate tourism and real estate trade in the country and attract foreigners from all over the world to Turkey.
Turkish Justice and Development Party logo
Government interests in the Turkish real estate sector
Starting in 2012, the Turkish real estate sector witnessed a wide renaissance, and this was achieved as a result of radical changes made by the Turkish government to allow citizens of 183 countries to buy real estate in Turkey in order to attract more foreign investors, and after these procedures, foreign investors flocked to Turkey to own real estate, to acquire Thus, they acquired a large share of purchases, and their sales witnessed a huge increase in the period between 2012 and 2015!
The most important strengths of the Turkish real estate sector
It is no secret to anyone that the properties of the property play an important role in highlighting the strengths of the property, such as the cladding, materials, etc., such as the location, the view, and the residential neighborhood. But what is certain is that the real estate sector in Turkey is affected by other factors that go beyond the meaning of the real estate sector itself, and here we mean the country’s infrastructure in general, such as roads, bridges, water resources, sanitation, electrical networks, communications and others. It is known that Turkey has achieved great superiority in these areas if it takes care of infrastructure projects and huge global projects such as the “Istanbul Canal Project”.
New Istanbul Water Canal Project
It is a waterway project extending from the Black Sea to the Marmara Sea in the European side of Istanbul with a length of exactly 45.2 km according to the final plan. The Istanbul Canal project was announced in 2011 by then Prime Minister Recep Tayyip Erdogan.
The new Istanbul Canal will appear on the European side of the city. To be an artificial waterway between the Black Sea and the Sea of Marmara in order to ease the movement of ships in the Bosphorus. Upon completion of the Istanbul Canal Project, the Bosphorus Strait will be completely closed to tanker traffic, and the project is scheduled to be completed in 2023.
The Istanbul Water Canal Project and the Turkish Real Estate Sector
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As soon as the implementation of the Canal Istanbul project was announced, real estate prices in the areas where the Canal Istanbul project was located rose significantly. The rise in these areas is expected to range from 50% in 2018, to 100% in 2023.
The project includes evictions in the areas where the project will be implemented. In addition to the implementation of many different constructions and projects in the areas near this huge project. Thus, all these changes will have a clear impact on investment in Istanbul. Turkish President Recep Tayyip Erdogan declared, in April 2011, that the canal project is a “dream” that he aspired to when he was mayor of Istanbul, describing it as “the project of the age.”
The Turkish opposition has criticized Erdogan’s dream and the Istanbul Canal project, claiming that it will destroy the historical monuments of Istanbul and cause environmental disasters.
Imamoglu claimed that the project negatively affects lakes, water basins and agricultural areas, and that it may make a big difference in terms of environmental balance. In addition to affecting the transportation system in the city, and forming an island between the Bosphorus and the new canal, this means exposing about 8 million people to the risk of earthquakes, and confining them to that region.
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