Decision After Decision: How Arnavutköy, Istanbul is Being Transformed

In 10.09.2024 A significant development has taken place that could reshape Istanbul’s urban landscape. With the Turkish Ministry’s approval for parts of the Yenişehir area in Arnavutköy, Boyalık, and Baklalı, a key milestone in the Canal Istanbul and Yenişehir project has been reached. This new zoning approval, aligned with the laws on the transformation of areas under risk of disaster, is expected to have a lasting effect on the real estate market and the future development of the region.

What This Zoning Approval Means

The newly approved plans are part of the broader framework to develop the Yenişehir area, which will serve as a “reserve building zone” for Istanbul. This is especially important given the city’s need to manage urban sprawl and provide safe housing in areas away from seismic risks. The zoning plans specifically outline the land use, building density, and infrastructure in these neighborhoods.

Under the Nazım İmar Plan and Uygulama İmar Plan, key areas in Arnavutköy are now cleared for new residential and commercial developments. This allows for construction activities to begin, unlocking the potential for both local and international real estate investors looking to capitalize on the rapidly growing region.

The Impact on the Yenişehir Area

Yenişehir is poised to be one of the most ambitious urban projects in Turkey, with strategic significance due to its location near Canal Istanbul, a megaproject aimed at creating a new waterway to ease congestion in the Bosphorus. Here’s how the approval of these zoning plans could influence the development of the area:

• Increased Development Opportunities: With clear zoning regulations now in place, developers can confidently move forward with projects. The Yenişehir area will likely see a surge in residential complexes, commercial centers, and infrastructure development in the coming years.
• Appeal to Investors: The formalization of zoning plans provides legal security, which is a critical factor for both local and international investors. These newly approved plans reduce the risks associated with investing in emerging areas and make Yenişehir a more attractive option.

• Urban Planning and Infrastructure: The new zoning plans ensure that Yenişehir will be developed in a planned and regulated manner. This will include the construction of necessary infrastructure such as roads, schools, parks, and other public amenities, making it a modern, well-planned urban area.

How It Affects the Canal Istanbul Project

Canal Istanbul, another cornerstone project, is set to run parallel to the Bosphorus and will link the Black Sea to the Sea of Marmara. This new canal will drastically change the dynamics of the region. Here’s how the zoning changes in Yenişehir will align with the Canal Istanbul project:

• • Strategic Location: Yenişehir is situated directly adjacent to the Canal Istanbul route. The zoning approvals will lead to more residential and commercial buildings in this region, which will eventually become a hub for businesses and logistics due to its proximity to this vital waterway.
  • Boost in Property Values: As development continues, the value of land and property around Canal Istanbul is expected to rise. The combination of modern infrastructure in Yenişehir and the significance of the canal will make this area highly desirable, driving up property prices. Investors who enter the market now stand to benefit from substantial appreciation over time.

  Environmental and Social Impact: Both the Yenişehir development and the Canal Istanbul project come with promises of sustainable development and earthquake-resistant housing, but they also raise concerns about environmental sustainability. The approved zoning plans take these issues into account, as they are governed by laws related to the transformation of areas under disaster risk (6306 Law). This provides some reassurance that the area will be developed with safety and environmental factors in mind.

The Effect on the Real Estate Market

The approval of these zoning plans is a major step forward for Istanbul’s real estate market, particularly in the northern parts of the city. Here’s how it will influence the market:

• New Opportunities for Buyers and Developers: With clear regulations and approvals in place, there will be an influx of new projects in the region. Buyers looking for modern, earthquake-resistant homes will have new options, and developers can seize the opportunity to build in one of Istanbul’s most promising areas.
• Rising Property Demand: As the Yenişehir area develops alongside Canal Istanbul, demand for real estate in this region will likely surge. Whether for residential, commercial, or industrial purposes, the area’s strategic importance will attract a wide variety of buyers.

Investment Potential: For investors, both local and foreign, the timing couldn’t be better. The combination of government support, infrastructure development, and strategic location make Yenişehir and the surrounding areas ideal for long-term investments. With property prices still relatively affordable compared to central Istanbul, early investors stand to gain as the area matures.

the recent zoning approvals for the Yenişehir area mark a significant step forward for both the Yenişehir development and the Canal Istanbul project. These changes will have far-reaching implications for the real estate market, making this region one of the most attractive for investors in Istanbul. As infrastructure and housing projects accelerate, property values are expected to rise, creating a ripple effect across the market.