One of the largest airports in the world was built in Istanbul. The large Istanbul airport, built at a record price of 22 billion euros, opened in an area of 76.5 million square meters. The project employs 225,000 people and consists of 4 stages and the 3rd airport serves 200 million passengers.
It has made Turkey an important transfer center between Western Europe and the Far East, with an investment of approximately €10.2 billion and a rental fee of €22.2 billion (+VAT), and the first stage of the new airport, which has a capacity of 200 million passengers when all stages are completed, opened on October 29, 2018.
Istanbul Airport has made Turkey an international hub with its huge capacity to provide flights to 150 airlines and over 350 destinations. With its physical infrastructure, technology investments, service quality, it has become the crown jewel of the aviation sector.
The project is in the Arnavutköy district of Istanbul. Therefore, the values of The Arnavutköy district and the surrounding districts have increased considerably. The project, which includes part of Yeniköy, Tayakad, Baklalı, Boyalik villages and part of Hadımköy, has also been seen to affect the real estate market in the surrounding regions such as Karaköy and Durusu.
As Istanbul continues to expand with every major infrastructure project, property prices around the new airport are increasing. Therefore, as today, it is known that the Istanbul Airport project will play a decisive role in the real estate sector in the coming periods.