Preparation for Kanal Istanbul from Arnavutköy Municipality... 99 properties sold off along the route!

Rent-focused activity continues around Kanal İstanbul, which opens Istanbul’s water, agricultural and forest areas to construction projects. While the project process gained momentum after the arrest of Istanbul Metropolitan Municipality (İBB) Mayor and presidential candidate Ekrem İmamoğlu, the Housing Development Administration (TOKİ), affiliated with the Ministry of Environment, Urbanization and Climate Change, held numerous tenders along the route.

According to a report by Cengiz Karagöz from Halk TV, construction has begun, in a manner contrary to nature, on a total of 24,160 homes and 1,121 workplaces in the basin protection areas of Sazlıdere Dam. The total amount spent on these projects is said to have exceeded 45 billion TL.

ARNAVUTKÖY MUNICIPALITY SOLD 99 PROPERTIES

AKP-run municipalities located on the Kanal İstanbul route, meanwhile, remain in the spotlight over property sales. Arnavutköy Municipality’s 2024 activity report revealed how this picture of rent-seeking has been expanded through municipal action.

During Mayor Mustafa Candaroğlu’s term, according to 2024 data from the Directorate of Real Estate and Expropriation, a total of 99 properties were put up for sale. The total value of these properties was recorded in the report as exactly 1 billion 471 million 702 thousand 789 TL.

Among the neighborhoods where sales took place were areas directly on the Kanal İstanbul route, such as Durusu, Haraççı, Taşoluk, Boğazköy, Hadımköy, Bolluca and Ömerli.

RENT INCOME MULTIPLIED COMPARED WITH PREVIOUS YEARS

According to the information in the activity report, property sales in 2024 showed a major increase compared with previous years.

In 2023, 85 properties had been sold, generating a total income of 238 million 229 thousand TL.

In 2022, 93 properties were sold, with a sale value of 140 million 274 thousand TL.

With this comparison, the sales amount in 2024 reached approximately four times the combined income of the previous two years.

The report included not only sales, but also transactions related to leasing and transfer of ownership.

The statement included the following remarks:

“During the year, sales transactions for a total of 99 properties and leasing transactions for 27 properties were carried out. In addition, within the scope of Law No. 6306, approval was obtained from the Ministry of Environment, Urbanization and Climate Change for the sales transactions, arising from entitlement rights, of 24 properties owned by the Treasury; subsequently, sales contracts were signed with the relevant right holders.”