Kanal İstanbul land handed over for profit
As the lack of assembly areas after the earthquake draws attention, the last green spaces of the megacity are being opened up to profiteering through Kanal İstanbul. Real estate companies are also seeking to hand them over to Gulf countries via online platforms.
Caught unprepared for the 6.2-magnitude earthquake centred in İstanbul, the government continues to insist on Kanal İstanbul project that will only further increase the city's population. Following the detention of İstanbul Metropolitan Municipality Mayor Ekrem İmamoğlu, promotional efforts for Kanal İstanbul gained momentum, sparking widespread backlash. On 22 April, Minister of Environment and Urban Planning Murat Kurum described the activities as “part of the biggest social housing project in the history of the Republic, comprising 250,000 homes in Arnavutköy.” He accused CHP leader Özgür Özel of slander for claiming, “Those houses will be sold to Arabs.”
Despite Kurum's denial, real estate ads targeting Gulf countries continue to circulate, and property firms servicing the region are actively marketing plots along the Kanal İstanbul route. One company based in İstanbul, with agencies across several Gulf countries, has been promoting lands near Kanal İstanbul via Instagram ads. On its website, the company states: “Our goal is to provide the best investment opportunities to those who want to own property or obtain citizenship.”
CITIZENSHIP FOR SALE TOO
One advert titled “Exclusive plots for sale near Kanal İstanbul” reads: “We offer the best investment opportunities with high returns and the possibility of acquiring Turkish citizenship in İstanbul, Turkey’s largest city, particularly around Kanal İstanbul. The land lies within the third phase of ‘Yenişehir’, directly to the right of the new Kanal İstanbul, on a 15-metre-wide avenue. Its proximity to key locations significantly increases its value, making it an ideal opportunity for successful investments.”
Another ad, titled “Unique plot for sale near Kanal İstanbul,” claims: “Located in Hacımaşlı in Arnavutköy, this plot, part of the new Kanal İstanbul planning area, offers not only high investment returns but also the chance to obtain Turkish citizenship, an unmissable investment opportunity in İstanbul.”
Even the 24,000 homes referred to by Minister Kurum as ‘social housing’ are being advertised on the company’s Instagram page. It is particularly striking that these promotions intensified following İmamoğlu’s detention. One Instagram post reads: “In one of the most significant regions of İstanbul, a promising urban development project outlines the blueprint for a bright investment future. Alongside these promising projects, real investment opportunities await you. Now is the time to make a smart decision!”
ANNOUNCEMENT CONTRADICTS KURUM
Another post announces the 24,000 housing units as exciting news: “Nearly two million square metres of land around Kanal İstanbul are being opened to development… TOKİ plans to build 24,000 housing and commercial units on this land. The Ministry of Environment, Urbanisation and Climate Change has changed the title status of 1,935,000 square metres in Arnavutköy from 'farmland' to 'zoned land'. This development is considered one of the most significant announcements regarding investment land around Kanal İstanbul since the start of 2025. Within this scope, TOKİ has developed a project to construct a total of 24,874 residential and commercial units on the land.”
‘GOVERNMENT SUPPORT’
Another post lists the ‘advantages’ of lands along the Kanal İstanbul route: “Comprehensive urban transformation is doubling real estate demand. An increase in residential and commercial land prices is expected. With urban expansion and new services, Kanal İstanbul lands are becoming a global investment hub. Ongoing government support strengthens investment stability and real estate opportunities.”
Note: This text has been translated from the original Turkish version titled Kanal İstanbul arazisi peşkeşte, published in BirGün newspaper on April 24, 2025.
