Two Times Bigger Than Taksim Square: A New Major Central Square In Başakşehir, Istanbul
Istanbul’s already high population never stops growing. This demands more and more living spaces. The recovery of old buildings to secure the history, while building new ones became a high priority in the city’s development plans for economic growth. The increasing middle-class, as well as the younger population with innovative thoughts that are transforming into professionals, are creating a market for consumerism.
The government’s 2012 decision to lift restrictions on foreign property ownership is attracting investors from the neighboring regions. Now that a $250 thousand investment is enough to secure a Turkish citizenship, Turkey’s own Association of Real Estate Investment Companies predicts $10 billion investments into the Turkish market over the coming years.
Located just south of Arnavutköy, Başakşehir is about to be the new Istanbul center and has been classified by experts as one of the best areas to buy an apartment. The area boasts of modern infrastructure and services, excellent geographical location near bridges, and airports.
Basaksehir is located near a large lake and has high-quality educational facilities and health facilities. These have made the area become a top destination for both local as well as international investors. With all these, you cannot miss noticing the rising prices of the apartments in the area.
The area flourishes with advanced infrastructure, excellent proximity to the three bridges, and the new Istanbul Airport. Başakşehir is located near to a large lake and has high-quality educational facilities and health facilities. These have made the area become a top destination for both local as well as foreign investors. With all these, you cannot miss noticing the rising prices of the apartments in the area.
The route of the Canal Istanbul project which has 45 km length passes through Küçükçekmece, Avcılar, Arnavutköy, Başakşehir districts. The region is expected to receive more demand in the future due to its proximity to major transportation routes such as TEM Highway, E-5, Press Express, North Marmara Highway, and Yavuz Sultan Selim Bridge. For this reason, rates are expected to rise.
A Major City Center in Development
Başakşehir already has a rich social environment, with shopping centers, theaters, cinemas, conference halls. There is a huge sports stadium with its own Football Club that is competing on the premier league of the Turkish Soccer League. The district is portrayed by a young population, where the age group under 20 represents almost half of the total population.
Başakşehir is also home to a massive government-run hospital facility. There are also 23 other medical clinics supported by the government, as well as a large number of private hospitals. The Turkish government has been working on creating a medical city in Başakşehir. The design is to be the biggest of its kind in Europe. The project will have 8 specific hospitals that have the capacity of up to 3 thousand beds and furnished with the latest medical devices. Since Başakşehir is about to be a fundamental medical destination, the district is designing the largest city center in Istanbul.
The new square will be developed on a 600,000 m2 area, which will be two times larger than Beyoğlu district's popular Taksim square. Beneath the city center, various subway projects are going on to connect the district with the rest of Istanbul. The Turkish government supports these projects with a value of 65 Million USD.