Imtilak Properties
11-10-2017

Istanbul is one of the biggest cities in the world and even surpasses the population and budget of many countries in the world. When this is the case, this metropolitan city is witnessing a very high-turn from those who are coming for work, residence or investment.

The Ministry of Environment and Urbanization of the Republic of Turkey has therefore started the construction of two new municipalities within Istanbul, which currently consists of 39 municipalities with more than 15 million inhabitants. The ministry plans to create two big municipalities in this great state.

At the present time, the need to add these new municipalities is growing because of the start and continuation of events in more than 10 cities in Istanbul at least. These new municipalities, which will be built, will contribute to facilitate and accelerate the urban transformation of the city.

These new areas will be built in the European section of Istanbul. They will include a population equals to more than 10-12 districts in the great state. These areas will be equipped with the highest standards of safety and well-being and will be in the form of traditional living areas reminiscent of life in the Turkish neighborhoods.

The Minister of the Environment and Urbanization of the Republic of Turkey, Mr. Mohammad Ohassy said in a speech in this context that the work will be in the first phase to renew the areas of Essenler, Gongoran, Bagclar, Eyyub and Sultan Ghazi in Istanbul in the context of this movement.

The minister said that the ministry is currently working to create a new center in the next five years. And that a working group of 15 specialized architects was formed in order to draw the plans for this new center.

The city of Istanbul is attracting a great deal of interest from real estate investors. The city is attracting foreign investors in general and Arabs in particular, and a large number of real estate projects are being built in this context in order to meet the growing needs in terms of real estate. Istanbul topped the list of Turkish cities most owned by Arabs for many years. This trend is expected to continue in the coming period as well.