Government is planning to construct new airports in Istanbul
Thursday, October 8, 2009
Addressing the opening session of the 10th Transportation Council in Istanbul, Turkish Prime Minister Recep Tayyip Erdogan said that his government is planning to construct several new airports in Istanbul.
Erdogan said Turkey would invest $350 billion in transportation and communication over the next 25 years. There are currently two airports in the city, Atatürk Airport is on the European side and Sabiha Gokcen is on the Asian side. Erdogan said, "The existing airports cannot meet the growing demand for air travel. A new terminal building will be inaugurated on Oct. 31.
However, this is not sufficient either. We have to construct several new airports in Istanbul."
Despite being the economic and cultural hub of Turkey - the city is expected to be named the European Capital of Culture in 2010. Istanbul's population is currently growing by 1.5 per cent a year, and with all this in mind, it is no real surprise that property investors looking to take advantage of the city's potentially rewarding rental yields.
According to the International Investor's Association, foreign investment in Istanbul property is estimated to reach an all-time high this year, with more than $15 billion set to be spent. Justin Walker from Spot Blue says, "There are a range of city-centre apartments in the popular neighbourhood of Beylikduzu for under £36,000, just 45 minutes from the airport. There are fantastic rental potentials in this bustling part of the city from a growing domestic and international population in Istanbul".
In related news, a recent PriceWaterhouseCoopers and Urban Land Institute survey officially named Istanbul as the second-best place in the world to invest in property, with affordable property prices, cheap living costs and decent rental yields.
Social BookmarkingErdogan said Turkey would invest $350 billion in transportation and communication over the next 25 years. There are currently two airports in the city, Atatürk Airport is on the European side and Sabiha Gokcen is on the Asian side. Erdogan said, "The existing airports cannot meet the growing demand for air travel. A new terminal building will be inaugurated on Oct. 31.
However, this is not sufficient either. We have to construct several new airports in Istanbul."
Despite being the economic and cultural hub of Turkey - the city is expected to be named the European Capital of Culture in 2010. Istanbul's population is currently growing by 1.5 per cent a year, and with all this in mind, it is no real surprise that property investors looking to take advantage of the city's potentially rewarding rental yields.
According to the International Investor's Association, foreign investment in Istanbul property is estimated to reach an all-time high this year, with more than $15 billion set to be spent. Justin Walker from Spot Blue says, "There are a range of city-centre apartments in the popular neighbourhood of Beylikduzu for under £36,000, just 45 minutes from the airport. There are fantastic rental potentials in this bustling part of the city from a growing domestic and international population in Istanbul".
In related news, a recent PriceWaterhouseCoopers and Urban Land Institute survey officially named Istanbul as the second-best place in the world to invest in property, with affordable property prices, cheap living costs and decent rental yields.
Labels: Infrastructure, Istanbul
