On January 6, 2023, Istanbul province announced the issuance of ministerial approvals for construction licenses in Yenişehir Istanbul, located in the Arnavutköy area. This announcement has sparked optimism about the future of real estate investment in the promising areas surrounding the new Istanbul Canal.

In this article, we will discuss the licensing decision, the "Yenişehir Istanbul" project, and its economic, investment, and real estate implications. This city is set to revolutionize the real estate market in Turkey.

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Issuance of Construction Licenses for Yenişehir Istanbul

One of the most promising real estate investment news in Istanbul at the beginning of 2023 was the announcement by the Regional Directorate of Environment, Urbanization, and Climate Change of Istanbul regarding the construction licenses for "Stage 1," "Stage 2," and "Stage 3" in the new city "Yenişehir," administratively part of Arnavutköy in European Istanbul.

Neighborhoods Covered by the New Ministerial Approvals

The licenses include 15 residential neighborhoods that will form "Yenişehir." These neighborhoods currently belong to the municipalities of Arnavutköy and Başakşehir, including:

Neighborhoods in Arnavutköy

• Çilingir
• Tayakakadın
• Hacımaşlı
• Haraççı
• Sazlıbosna
• Dursunköy
• Yeniköy
• Baklalı
• Hadımköy
• Boyalık
• Yassıören
• Taşoluk

Neighborhoods in Başakşehir

• Kayabaşı
• Şamlar
• Şahintepe

Aspects Studied in the Ministerial Approvals

These approvals are usually for lands intended for construction and come after thorough studies covering all safety standards, particularly concerning resistance to natural disasters and earthquakes in the designated areas. The studies include:

• Creating maps of the area
• Providing data for urban transformation projects
• Establishing damage mitigation plans
• Highlighting significant infrastructure investments in the area, such as dams, tunnels, bridges, and metros, along with project designs and insurance
• Preparing precise databases and lists for the area and its projects

Impact of New Approvals and Licenses on Investment in Yenişehir

This licensing follows a series of decisions over the past years, including previous objections to some licenses and routine procedures that delayed the issuance of this decision. This represents a significant boost for real estate investment in Istanbul, aligning with the nearing announcement of Turkey's largest infrastructure project, the "New Istanbul Canal."

The broad outlines of the "Yenişehir Istanbul" project have been clear for several years, designed to encircle the new canal, attract hundreds of thousands of residents, and implement high-quality real estate and urban projects, aligning with modern housing and investment standards.

The recent licenses will provide a strong incentive for foreign investors to own land and real estate, start buying apartments, villas, and offices in the new city. The property prices in the area are expected to rise significantly in the upcoming period.

Detailed Information About Yenişehir in Arnavutköy

Yenişehir is not just a new district; it deserves the name "Yenişehir" or "New City" because it represents a real estate revolution. Here are some detailed insights:

Location of Yenişehir Istanbul

Administratively part of Arnavutköy in European Istanbul, Yenişehir will border the following districts:

• Avcılar (Ispartakule)
• Bağcılar
• Bakırköy
• Başakşehir
• Esenler
• Eyüp
• Küçükçekmece

The geographical location is advantageous as it will surround both sides of the new Istanbul Canal, scheduled to be officially announced as part of the Turkish government's vision for 2023.

Buildings and Population Details in the New City

Yenişehir Istanbul will cover approximately 25,000 hectares of land, with a planned population of 2.4 million people, designed to prevent overcrowding. The final number of residential units is estimated at 800,000, with most buildings being up to 6 stories high, although some higher structures will also be included.

Vital and Recreational Facilities

The new city will feature extensive botanical parks covering about 5,000 hectares of green space, in addition to water basins and lakes. It will also include numerous educational, health, and entertainment facilities, commercial and financial centers, shopping malls, mosques, swimming pools, sports clubs, bank branches, government institutions, and various service centers, ensuring residents a safe, comfortable, and well-serviced living environment.

Earthquake-Resistant Specifications

In addition to standard modern building regulations, 5,500 hectares of the new city's area will be designated for emergency and disaster accommodations, with all necessary measures to ensure easy access in case of an earthquake or other emergencies.

Transportation in the New Area

The area will feature 200 kilometers of railway designated for metro and tram, along with four bridges forming 43 kilometers of highways. Additionally, the area will be naturally integrated with a network of internal transportation, already well-established in the neighborhoods within the "Yenişehir" plan, facilitating access to surrounding and nearby areas.

The transportation plan for the new city in Arnavutköy is expected to reduce current traffic congestion in Istanbul by 50-60%.

Future of Real Estate Investment Near the New Istanbul Canal

The new Istanbul Canal project is set to bring a qualitative leap in real estate investments in the city. Yenişehir Istanbul will form an exceptional investment hub. Key points for optimistic investment prospects in Yenişehir include:

• The prime location is near one of Istanbul's largest projects, with the canal expected to rival the Bosphorus Strait. Properties overlooking the new canal will match the investment value of those overlooking the Bosphorus.
• Leading Turkish construction companies, particularly Emlak Konut, will oversee real estate developments in Yenişehir. Emlak Konut is renowned for its high-end, fully-serviced residential complexes.
• The new city will meet the housing needs of thousands of employees in Turkey, particularly in Istanbul's new airport, Turkish Airlines, Başakşehir's medical city, and other major facilities, providing quick access points.
• Yenişehir will address urgent housing needs for foreign tourists, especially business travelers and those seeking medical or investment tourism.

In this article, we have informed you about the positive news for foreign investors through the new licenses for Yenişehir Istanbul and provided detailed insights into this new city and the promising future of its real estate investments.