Construction on the controversial Kanal Istanbul project has reportedly resumed following the arrest of Istanbul’s mayor Ekrem Imamoğlu.
The project, which is slated to build a 45-kilometer artificial waterway linking the Black Sea and the Sea of Marmara, is seeing significant real estate activity in the surrounding areas, particularly around the Sazlıdere Reservoir, where plans for a 24,000-unit housing development are already underway.
Imamoğlu, a vocal critic of the project, took to social media to express his concerns, stating, “You took advantage of my absence and started laying the foundations.” He has previously described Kanal Istanbul as a “disaster” for Istanbul’s ecological and urban future, emphasizing the potential risks to the city’s water resources and environmental balance.
Meanwhile, marketing efforts targeting foreign investors, particularly from Arab countries, have intensified. A real estate company based in Jordan, Go Smart, has begun airing promotional videos on YouTube, highlighting investment opportunities around Kanal Istanbul.
The advertisements, which feature aerial footage of the region and emphasize President Recep Tayyip Erdoğan’s visits, portray the project as a “crown jewel” of Turkey’s future.
However, concerns over the long-term impacts of foreign property ownership and the potential transformation of Istanbul’s urban landscape remain a subject of debate.
Kanal Istanbul, which broke ground in 2021, is expected to be completed by 2027. The project aims to reduce maritime traffic in the Bosporus and generate revenue through international ship passage. However, environmental activists and opposition political parties have raised alarms about its potential harm to Istanbul’s ecosystem and its water resources.
Despite the ongoing criticism, the Turkish government continues to promote the project as a “crazy project” that will enhance Turkey’s role in global trade. As construction progresses, property prices around the Kanal Istanbul area have soared, with prices increasing by as much as 60% in neighborhoods such as Arnavutköy, Başakşehir, and Küçükçekmece.
The future of Kanal Istanbul remains a critical issue, not only in Turkey’s domestic politics but also in terms of its international relations.
