Registration for new projects in the new city of Yeni Şehir opens on Istanbul Channel:
Registration for new projects in the new city of Yeni Şehir opens on Istanbul Channel:
Emlak Konut, the governmental real estate entity, has announced the opening of registration for its new projects in the new city of Yeni Şehir in Istanbul. These projects are slated to commence in the near future and are to be built in the new cities previously announced by the Turkish government. Can anyone register for an apartment within these projects? What is the benefit of registering for these announced governmental projects? Where is the new city of Yeni Şehir located in Istanbul? Can investment be made in the new city of Yeni Şehir? What is the importance of purchasing land in the new city? All these questions and more will be addressed in this comprehensive article about the new city of Yeni Şehir and the benefits of investing in purchasing land in this new city.
Emlak Konut Company announces the start of registration for its new projects:
Emlak Konut Company announced that on June 2, 2023, registration will begin at its offices for the new projects that will be undertaken in the new cities announced on the banks of the Istanbul Channel in the Arnavutköy region within the master plan of the new city in the neighborhoods of Baklali and Dorson, which are part of the Arnavutköy region and located on the banks of the new Istanbul waterway, construction of which began in 2021 with the commencement of the construction of the first bridge over the channel. Previously, President Recep Tayyip Erdoğan had announced the establishment of two residential cities on the banks of the Istanbul Channel, accommodating more than two million people. Indeed, Toki Company, in partnership with Emlak Konut, issued its statement to commence registration for the new projects on which construction will begin soon in the Baklali neighborhood after an agreement was reached between them and a construction company to undertake construction and development works. The project is scheduled to be delivered within 650 days from the start of construction works, which will commence soon (link to the news from a Turkish website here).
Emlak Konut Company also announced the start of registration for its projects in collaboration with Turkish Airlines in the Dorson neighborhood in the Arnavutköy region, where residential projects planned between Emlak Konut and Turkish Airlines have been finalized for construction works to begin soon. These projects are part of the regulatory plan for the two new cities on the banks of the Istanbul Channel as well, and registration for the purchase of apartments in these projects has actually begun during the past week, indicating that planning and construction activities have already commenced. The first phase of the two cities is set to begin in the near future, aiming to complete the construction of the two cities along with the completion of the excavation works for the new Istanbul waterway, which is expected to be completed by 2027 according to some government statements (link to the news on the Emlak Konut website here).
Who can register to purchase apartments in these projects:
These projects are being constructed in areas located in the northern part of Istanbul, close to the Black Sea and on the banks of the new Istanbul waterway. However, not just anyone can purchase these apartments; it’s not as simple as that. Since these projects are governmental and aimed at the Turkish population, it means that direct registration for apartments in these projects is only available to Turkish citizens exclusively. Not everyone who registers can obtain an apartment within these projects because there are requirements that must be met by the individual who wishes to register for housing in these projects. The most important requirement is that the individual must be a Turkish citizen only, and foreigners cannot register at Emlak Konut or TOKI offices to obtain housing within these projects.
The benefit of registration for new projects in Emlak Konut:
When Emlak Konut or TOKI announces the opening of registration for new projects, Turkish citizens rush to register at the announced offices to obtain housing in them. This is due to the facilities provided by these governmental companies to Turkish citizens to own housing in their projects. It’s possible to acquire housing with long-term installments, small payments, and affordable prices compared to other projects. This causes a longer waiting period for the person who registers for housing until a decision is made to grant them a home in these projects, to evaluate their financial situation and their ability to purchase property outside TOKI or Emlak Konut projects, or if they own other properties. If they own a property, they are excluded from the lists of eligible individuals to ensure housing for those who need it most.
The new city of Yeni Şehir in Istanbul:
The new city of Yeni Şehir was announced on 01-06-2023 by the Turkish government after obtaining all the necessary governmental licenses to commence construction works. The entire new city area of Yeni Şehir has been fully organized and planned, with planning and zoning activities completed by the governmental institutions responsible for project regulation, land management, and environmental preservation. The location of the new city of Yeni Şehir has been identified in the Arnavutköy district in the northern part of European Istanbul, on the banks of the new Istanbul waterway. The waterway will start from the Marmara Sea in the Küçükçekmece area and end at the Black Sea in the Arnavutköy area. Construction work on the waterway began in 2021 with the commencement of the construction of the first bridge over the channel. This city will stretch on both sides of the Istanbul Channel in the Arnavutköy area and will be the largest residential city announced in this region, expected to accommodate more than 2.4 million people.
The new city of Yeni Şehir is located in the Arnavutköy district in European Istanbul, on the banks of the new Istanbul waterway. It will stretch across 12 neighborhoods from the Arnavutköy district and 3 neighborhoods belonging to the Başakşehir district along the length of the new Istanbul waterway as follows:
Neighborhoods belonging to the Başakşehir municipality:
Neighborhoods belonging to the Arnavutköy municipality:
This new city is distinguished by its direct connection with 7 of the most important municipalities and residential and investment areas in Istanbul. It will be connected with:
- Avcılar via the Tıhtakale neighborhood in SpartaKule
Additionally, it will be directly on the banks of the Istanbul waterway, which is the most significant advantage of this new city. It may be the most important residential city announced in Istanbul during the past decade, as it will be a major turning point in the history of the real estate and investment market in Istanbul. This is especially true considering that the Istanbul Canal project, which will be the Turkish project of the century, is the most prominent and important project in Turkey overall. It will transform Istanbul into a floating island between two of the most important straits in the world, especially for Black Sea countries.
Who can register to purchase apartments in these projects:
These projects are being developed in areas located in the northern part of Istanbul, close to the Black Sea and along the banks of the new Istanbul waterway. However, not everyone can buy these apartments; it’s not as straightforward as that. Since these projects are government initiatives aimed at the Turkish population, it means that only Turkish citizens can directly register for apartments in these projects. Not everyone who registers can obtain an apartment within these projects because there are specific requirements that must be met by individuals who wish to register for housing in these projects. The most important requirement is that the individual must be a Turkish citizen exclusively. Foreigners cannot register at Emlak Konut or TOKI offices to acquire housing within these projects.
Benefits of registering for new projects with Emlak Konut:
When Emlak Konut or TOKI announces the opening of registration for new projects, Turkish citizens rush to register at the designated offices to secure housing. This is because of the facilitations provided by these governmental entities to Turkish citizens for homeownership in their projects. Housing can be obtained with long-term installments, small payments, and affordable prices compared to other projects. This leads to a longer waiting period for individuals who register for housing until a decision is made to grant them a home in these projects. This waiting period allows for the evaluation of their financial status and their ability to purchase property outside of TOKI or Emlak Konut projects or if they already own other properties. If they own property elsewhere, they are excluded from the list of eligible applicants to ensure housing is provided to those in greater need.
Yeni Şehir, the new city in Istanbul:
Yeni Şehir, the new city, was announced on 06-01-2023 by the Turkish government after obtaining all necessary governmental licenses to commence construction. The entire area of Yeni Şehir has been fully organized and planned, with planning and zoning activities completed by governmental institutions responsible for project regulation, land management, and environmental preservation. The location of Yeni Şehir has been determined in the Arnavutköy district in the northern part of European Istanbul, along the banks of the new Istanbul waterway. This waterway will begin from the Marmara Sea in the Küçükçekmece area and end at the Black Sea in the Arnavutköy area. Construction on the waterway began in 2021 with the commencement of the construction of the first bridge over the channel. Yeni Şehir will stretch on both sides of the Istanbul Channel in the Arnavutköy area and is expected to be the largest residential city announced in this region, accommodating more than 2.4 million people.
Infrastructure and Transportation in the New City of Yeni Şehir:
Upon announcing the commencement of the Istanbul Canal project and the initiation of work on it, a regulatory plan was issued for the areas located on the banks of the canal. Each meter of these lands was specified for its role in this significant project. When the location of the new city, Yeni Şehir, was determined, the area was fully organized, with planning for all infrastructure works including water, electricity, internet, and natural gas services, in addition to parks, gardens, recreational areas, sports clubs, stadiums, mosques, governmental institutions, educational centers, universities, and schools, along with lakes and water bodies. All of this is aimed at providing residents with the comfort and luxury they aspire to achieve.
Regarding transportation, actual implementation began years ago with the construction of subway lines connecting central Istanbul to the new Istanbul Airport through an extensive network of subway lines. Within the new city of Yeni Şehir, multiple subway lines will connect its neighborhoods, in addition to linking the new city to central Istanbul. Furthermore, 6 bridges will be built over the Istanbul Canal to create a 43 km-long expressway directly connected to other highways and internal roads within the new city and beyond. This aims to facilitate access and movement between the neighborhoods of the new city and its surrounding areas, all the way to central Istanbul. The most notable aspect of the new transportation plan in the new city is its aim to reduce the congestion in Istanbul by 50% to 60% of the current congestion rate, as Istanbul is known as one of the most congested cities in the world.
Investment in the New City of Yeni Şehir in Istanbul:
The new city of Yeni Şehir has become the focus of attention for many investors seeking high returns in the coming period. Consequently, many of them have turned to purchasing land offered for sale in various areas of the new city’s urban planning. Hundreds of plots of land are available for sale, having entered urban planning and become suitable for development in the near future. It is possible to purchase one or several plots of land within the new city’s urban planning and construct residential buildings or integrated housing projects in the area, especially in locations near the route of the new Istanbul Canal.
In recent times, particularly after the announcement of the new city of Yeni Şehir, the rate of land sales in that area has significantly increased along the canal route. Hundreds of individuals have ventured to buy land in that area to obtain excellent returns within a short period. This can be achieved either by developing the land or by selling it to real estate projects that will begin constructing new projects on those lands, as they will constitute the new city. Therefore, real estate investment in the new city of Yeni Şehir is expected to be one of the most successful and profitable real estate investments that anyone can undertake in Istanbul in the coming years. Do not miss the opportunity to own land in this area before prices rise, especially since the area has become famous, and everyone is rushing to buy land, which means an increase in demand for land purchases, naturally leading to a significant increase in the price per square meter compared to before.
In the case of purchasing ready residential properties in that area, especially on the outskirts of the Istanbul Canal, such as projects in the Şpartakule area overlooking the route of the Istanbul Canal, they will become parallel to properties along the Bosphorus in terms of features and prices, approximately. This is especially true considering that the Istanbul Canal could become an important strategic alternative to the Bosphorus Strait, which many ships may use to cross between the two seas. Therefore, buying property in areas surrounding the canal, even if the purpose of the purchase is for residential purposes, will result in significantly higher property prices after several years if the property owner wishes to sell it, leading to a high return on investment upon sale or rental.
What are the benefits of buying land in the new city of Yeni Sahir in Istanbul?
The benefit of purchasing land in the new city of Yeni Şehir in Istanbul lies in its inherent value as a long-term investment. Real estate is widely regarded as one of the best investments globally due to its tendency to appreciate over time. Land, in particular, holds its value indefinitely and is resistant to natural disasters such as earthquakes and hurricanes, as well as geopolitical conflicts. Regardless of any urban zoning changes that may result in a reduction in land size, the value of land tends to increase.
In the case of Yeni Şehir, after the issuance of new regulations for the city, specific allocations were made for each parcel of land within the area, extending from Lake Küçükçekmece to the Black Sea. While portions of these lands were designated for infrastructure development, including roads, government centers, parks, and other amenities, this did not negatively impact land prices. On the contrary, land prices have significantly increased, especially after the announcement of the new city. This trend indicates that investing in land in Yeni Şehir can lead to substantial returns over a relatively short period.
One of the most significant benefits of buying land in Yeni Sahir, the new city in Istanbul, is that construction companies will rush to purchase land in that area to build their new residential and commercial projects. Therefore, buying land in this area, especially near the new Istanbul water channel, guarantees a definite profit when selling the land after a period, especially after the completion of the Istanbul water channel. Real estate and construction companies will accelerate their purchase of land in the new city of Yeni Sahir to sell it after a while or participate in its development, either partially or entirely, in the near future. In any case, it is a profitable investment that can never lose, especially now that the Istanbul water channel has indeed commenced its operation, and the plan is no longer just under study but has become a reality being implemented on the ground despite everything. This means that those interested in investing in Istanbul should hurry to buy land in that area because it is the best investment area now.
We are Turkey Step, official and exclusive agents for a large number of lands in the new city of Yeni Sahir. We have hundreds of lands available for sale with various sizes and diverse locations, all with ready commercial and residential licenses. You can purchase the land directly and build on it. These lands are directly located on the banks of the new Istanbul water channel, just a few meters away from the channel’s course. Therefore, contact us now and reserve your land. Don’t miss the biggest real estate investment opportunity in Istanbul.