IMPORTANT NEWS

Canal Istanbul Project's route between Marmara and Black Sea

The "most appropriate" route for the Canal Istanbul Project, which is an artificial sea-level waterway parallel to the Bosporus that is to connect the Black Sea to the Sea of Marmara, is unveiled.

Maritime and Communications Minister Ahmet Arslan said in a news conference in Ankara that; "The Küçükçekmece-Sazlıdere-Durusu corridor was chosen as the most appropriate route for Canal Istanbul," Transportation.

He also said that the length of the artificial sea route would total 45 kilometers (28 miles).

The route would start from Küçükçekmece Lake and is to continue to the north passing Istanbul's Sazlıdere Dam and reach the Black Sea from the east of Terkos Dam, located in the Durusu village of Istanbul's Çatalca district.

The canal which is to provide relief to shipping traffic, particularly oil tanker traffic, passing through the Bosporus, will boast a capacity of 160 vessels a day and is scheduled to be completed by 2023.

Arslan did not give further information about the exact cost of the project but added it will be "much bigger" than other projects.

Turkey and Russia signed 'fund' agreement

The Turkish Asset Fund and the Russian Direct Investment Fund signed the Memorandum to establish the Turkey-Russia Investment Fund. 

Under the terms of the agreement, a fund reaching a total of 1 billion dollars will be created by both countries making an investment worth up to 500 million USD in the Turkey-Russia Investment Fund.

FOREIGNERS NOT TO PAY VAT

VAT exemption on the sale of properties to foreigners are being launched, said Finance Minister Naci Ağbal. 

“If a property or commercial unit is sold to a foreign real person or company by the construction companies, we will exempt the VAT. Therefore foreigners will not pay VAT when they want to buy housing or business place in Turkey,“ he said.

TURKISH CITIZENSHIP TO WHO INVESTS

Turkish citizenship will be given to foreigners who invest at least $ 2 million in Turkey, buy at least $ 1 million of real estate, or open a deposit account of at least $ 3 million.

With the amendment made in Article 20, which regulates the acquisition of Turkish citizens exceptionally by the regulation on the implementation of the Turkish Citizenship Law, the possibility of Turkish citizenship to foreigners who have invested a certain amount in Turkey and have created employment or held deposits has been introduced. 12/01/2017​

Accordingly, the exceptional conditions for foreigners seeking to become Turkish citizens are as follows:

  • At least $ 2 million invested in fixed capital

  • At least $ 1 million in immovable property

  • Employing at least 100 people

  • At least $ 3 million deposits holding 3 years

  • Persons holding at least 3 million liras of state borrowing instruments for three years will be entitled to Turkish citizenship.

ÇANAKKALE OPPORTUNITIES ON SALE!

Çanakkale's investment opportunities, Rimall Invest expert staff provided by working diligently, are started being sold out!

Stay in touch with us to follow the opportunities and invest on time!

ISTANBUL MEGA INFRASTRUCTURE PROJECTS PUSH LAND AND REAL ESTATE PRICES UP

Mega projects and urban renewal projects have substantially increased land and real estate prices in Istanbul, with the value of real estate properties reaching TL 1.5 trillion ($500 billion).

Completed and ongoing megaprojects like Kanal Istanbul, Istanbul New Airport, Yavuz Sultan Selim Bridge, Eurasia Tunnel and Marmaray have further increased the value of real estate properties.

According to the Star daily, real estate properties in Istanbul doubled in value in the past three years, reaching TL 1.5 trillion.

Real estate specialists suggest the value of immovable properties, with the exception of waterside mansions on the Bosporus strait, reached TL 1.139.2 trillion from TL 665.6 billion in 2013 due to the impact of megaprojects and urban renewal projects.

Due to urban transformation, 200,000 houses were added to the existing 3.1 million houses. However, mega projects and land that constantly increases in value, are the main factors in the rising real estate prices.

Specialists say real estate prices soared by 71 percent from 2013 to 2016 thanks to the actualization of megaprojects and urban renewal projects and the rise of transportation facilities. Real estate prices in Silivri surged 91 percent in the past three years, as Kanal Istanbul will be built in this district.

Also, estate prices in Kadıköy increased 92 percent in the same period due to urban transformation projects.

Real estate prices in Sultangazi, Başakşehir and Büyükçekmece, which are located on roads connected to the Yavuz Sultan Selim Bridge, have risen by 73 percent, 88 percent and 85 percent, respectively.

Construction in Maltepe Square led to a 96 percent boom in prices in the Maltepe district, while the Yenikapı Square project increased real estate prices in Fatih by 97 percent.

We strongly recommend you to contact us using the links below for very profitable, (and not affected by the price increases yet) investment opportunities remaining in the domain of mega projects especially in Istanbul and nearby areas.

ÇANAKKALE 1915 BRIDGE FOUNDATION TO BE LAID IN MARCH 2017

Prime Minister Binali Yıldırım has shared the date of the foundation laying ceremony for the Çanakkale 1915 bridge with the public. The ceremony will take place on 18 March 2017. The bridge is expected to be completed within a short time, making the flow of traffic in the Marmara region more serialized, like a ring. The face of Çanakkale will also start to change quickly together with the foundation laying ceremony, which will add new value to the Day of Remembrance for the Martyrs, on 18 March 2017.

With the Osmangazi Bridge going into service on 30 June, and the Yavuz Sultan Selim Bridge due to be put into service in the last week of August, the next bridge on the agenda will be the Çanakkale crossing project, which is already whetting the appetite of investors.

The Final of the Giant Projects

The “Marmara Ring” project, which will provide the possibility of touring around the Marmara region by road and rail, will also be connecting Anatolia directly to the Thracian region. It will also ease the connection of Istanbul to the Aegean region. And with the transport axes being put into service one after the other, this will also mean that real estate prices will become more active.

The Northern Marmara Highway and the Çanakkale Dardanelles Bridge will play just as big a role as the Gebze – Orhangazi – Izmir Highway in all of the cities in the region, from Istanbul to Kocaeli, Bursa to Balıkesir and Çanakkale to Tekirdağ, being connected to each other with ease via a network of highways and railroads.

Will be completed by 2019

Kurtköy and Sakarya regions will be connected to each other with the Northern Marmara Highway. Indeed, with the inclusion of the Black Sea Coastal Road, a connection to Istanbul will have been provided from the north of Izmit and Adapazarı. Cities such as Izmir and Balıkesir will be able to choose a new route for connection with Tekirdağ, with the bridge to be built in Çanakkale. The Çanakkale Bridge has been put on the agenda following the putting into service of the Osmangazi Bridge, the most important section of the Gebze – Orhangazi – Izmir Highway, on 30 June. With the Çanakkale Bridge also being put into service, the traffic in the region will be eased to extraordinary levels. As vehicles will prefer the bridges, there will be no ferryboat related traffic in Istanbul, Izmit and Bursa. The Marmara Ring is planned to be completed together with all of its connections, by 2019.

Çanakkale Bridge to reduce distances

A new alternative will be created to the Istanbul Bosphorus crossings, for the journeys and transportations between the Aegean, the west of Central Anatolia, the Adana – Konya axis and the Western Black Sea and Thracian regions, as a result of the Kınalı-Tekirdağ-Çanakkale-Balıkesir Highway and the Çanakkale Dardanelles Bridge project. When the 352 kilometer Kınalı-Tekirdağ-Çanakkale-Balıkesir Highway is completed, the distance between Istanbul and Tekirdağ will be reduced by 18 km, and the distance between Istanbul and Çanakkale will be reduced by 45 km. The time it takes to reach Çanakkale from Istanbul will fall from 3.5 hours to 2 hours. The city traffic of Istanbul will also be eased. The trucks which carry export loads will not have to be put in vehicle parks at certain hours and the load of the Bosphorus will be reduced.

EXCITING OPENING CEREMONY FOR YAVUZ SULTAN SELİM BRIDGE AND NORTHERN PERIPHERAL HIGHWAY

Yavuz Sultan Selim Bridge and Northern Peripheral Highway were opened in an opening ceremony on Friday, August 26th.  The first ones to drive on the bridge were President Recep Tayyip Erdoğan in the Presidency bus along with its cortege.Yavuz Sultan Selim Bridge and Northern Peripheral Highway were opened in an opening ceremony on Friday, August 26th.  The first ones to drive on the bridge were President Recep Tayyip Erdoğan in the Presidency bus along with its cortege.

The opening ceremony was attended by President Recep Tayyip Erdoğan and his spouse Emine Erdoğan, President of Grand National Assembly İsmail Kahraman, Prime Minister Binali Yıldırım and his spouse Semiha Yıldırım, Chief of General Staff General Hulusi Akar, 11th President Abdullah Gül, former Prime Minister and AK Party Konya Congressman Ahmet Davutoğlu, Minister of Customs and Trade Bülent Tüfenkci, Minister of Development Lütfi Elvan, Minister of National Education İsmet Yılmaz, Minister of Culture and Tourism Nabi Avcı, Minister of Forestry and Water Affairs Veysel Eroğlu, Minister of Youth and Sport Akif Çağatay Kılıç, Minister of Energy and Natural Resources Berat Albayrak, Minister of Health Recep Akdağ, Minister of Finance Naci Ağbal, Minister of Labor and Social Security Süleyman Soylu, Minister of Food, Agriculture and Livestock Faruk Çelik, Director of Religious Affairs Mehmet Görmez and a large number of guests.

 

Opening ceremony was also attended by many international invitees including the King of  Bahrain Hamed bin İsa Al Halife, President of Bosnia-Herzigovina Presidency Council Bakir İzetbegoviç, Macedonia President Gjorge Ivanov, KKTC President Mustafa Akıncı, President of Azerbaijan Assembly Oktay Asadov, Bulgaria Prime Minister Boyko Borisov, President of Pakistan Pencap State Şahbaz Şerif, Serbia Deputy Prime Minister Rasim Ljajic, Georgia Deputy Prime Minister Dimitri Kumsisihvili, former Prime Minister of Lebanon Suat Hariri.

 

Minister of Transport, Maritime and Communications Ahmet Arslan, Prime Minister Binali Yıldırım, President of Grand National Assembly İsmail Kahraman, Former Prime Minister Ahmet Davutoğlu, 11th President Abdullah Gül and President Recep Tayyip Erdoğan delivered speeches during the opening ceremony.

 

President Recep Tayyip Erdoğan heralded the news of free passage on the bridge by August 31st evening and invited guests to join him on stage. Following the prayer conducted by the President of Religious Affairs Mehmet Görmez, ribbon-cutting ceremony was held and Yavuz Sultan Selim Bridge and Northern Peripheral Highway were put into service.

3. THE AIRPORT CAN BE EARLY BUILT FOR 6 MONTHS!

Third Airport's CEO, Yusuf Akçayoğlu, said in a interview with Seda Tabak from Sabah that the construction progresses rapidly as planned and said, "Although the official completion period is October 2018, we aimed to complete the project in the first quarter. 

IS THE PROJECT PROGRESSING PROPERLY?

As of May 1, the site was delivered and the official process started. The first phase of the first stage will be completed in 42 months, with two runways, 90 million passenger terminal and other support buildings. The second phase is the third runway construction, which will be completed within 58 months of the date of site delivery. Istanbul's civil aviation sector is experiencing rapid growth in recent years and this causes capacity problems of Atatürk and Sabiha Gökçen Airports. So although the official completion period of the 3rd Airport is October 2018, we aimed to complete the project in the first quarter of 2018. We made all our plans in this direction. The airport revision master plan was approved on June 22, 2015. Substrate and superstructure project approval processes have begun to accelerate construction activities after master plan approval. It is progressing smoothly now. Continuous coordination meetings are held with the Ministry of Transportation and DHMİ.

HOW MUCH OF THE SWAMP SECTION WAS DRIED?

There are very dense soil movements in the project area. In the areas where the upper buildings will be located, the poor soil from the old mine waste was completely removed. In the same way, excavation works continue on the high elevation areas. In the first phase we removed a very large part of the existing bog. In areas where the swamp is cleaned, our refinement and filling works continue.

 

COMPLETED COMPLETION?

All kinds of designs that will enable the construction to be started have been completed without a draft and the design firms have begun to work. The main subcontractors, such as equipment, are also completed on a large scale. While the design works were continuing, the construction on the field continued in parallel with the approvals. Up until the end of 2015 orders for large systems such as luggage, bridges, main energy center, facade, roof, steel, elevator, escalator, fuel will be completed. CEO Akçayoğlu stated that when Istanbul's new airport is opened, flight safety will be an exemplary airport at the highest level in international standards. "In order to achieve this goal, besides researching new and developing technologies now and in the future, we are maintaining contact with the experts from all over the world".

3RD BRIDGE HAVE NEWS!

 

In order to evaluate possible investment opportunities within the scope of the 3rd Bridge and Northern Marmara Highway Project, where our investors have shown great interest, as Rimall Invest team, we have carried out detailed reviews in this region and its vicinity. We also want to share with you the up-to-date information we received during our reviews.
 

On the 3rd bridge project, the junction of the two highways by motorway and train is only 648 meters away. The construction of the main carrier cable to the towers of the 3rd Bridge, which is under construction in the scope of the 3rd Bridge and Northern Marmara Highway project, which was started to be constructed in 2013, has started. Thanks to the completed lighting work, the Istanbul Strait has a new pearl necklace. 27 more trays will be brought from Tuzla and Altınova facilities to install to the main cables, in order to join the both sides, while 29 steel plates were replaced to the bridge from which vehicles and trains will pass over. 

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