ISTANBUL – Ekonomist

The historic Arnavutköy neighborhood is emerging as a new center of attraction in Istanbul, as prices of lands have nearly doubled in the last year. Turkey's Mass Housing Administration, or TOKİ, and the KİPTAŞ company, an affiliate of the Istanbul Metropolitan Municipality, have seen the potential in the region and have launched 2,000 housing projects, weekly Ekonomist reported. TOKİ has launched 1,350 housing projects, while KİPTAŞ has created 625. In addition, a variety of villa projects have been taking place in the region during the last couple of years.
Arnavutköy boasts an advantageous location in terms of investment potential. �Those who would like to invest in building plots have showed an immense interest to the region. The values of the lands in the area will soon boost, particularly following the completion of ring roads and the initiation of new housing projects,� said a real estate agent working in the region.
There are numerous zoned lands in the towns and villages that are part of Arnavutköy district. Investors who took the risk of waiting until the lands were zoned for construction, have opted to realize their investments in land. In addition, the prices of the building plots in the region have been continuously increasing over the last couple of years.
�Investors are willing to purchase the lands with the existing prices. The lands are sold immediately after they are put up for sale,� said another real estate agent in the area, reflecting on the huge price increase in the values of the building plots in the area as some of the building plots grow 100 percent in value within a year.
Arnavutköy, which is located in the vicinity of the new ring roads, is also set to become an attraction center in the aftermath of the construction of the third bridge, which is expected to pass through the northern part of the region and new ring roads, which are going to be the extension of the third bridge. The city's third airport is also expected to be constructed in the vicinity of Arnavutköy.
Infrastructure in the region has also been improved, as the houses in Arnavutköy are heated with natural gas and the drainage problem has been solved by the sewer water project of Istanbul Water and Sewerage Administration, or ISKI. This project will clean the water in the water basins of Sazlıdere and Alibeyköy.
TOKİ Houses, KİPTAŞ Houses, Taşoluk Mansions with Gardens, Taşoluk Pearl Villas, MİL-TEN Milpark Houses, MİL-TEN Durusu Houses and Miltown are among the major housing projects in the region.
Arnavutköy, which has been newly made into a district of Istanbul, is also set to become one of the largest districts of the city, as Boğazköy, Bolluca, Taşoluk and Haraççı, which formerly belonged to Gaziosmanpaşa district, and the Durusu and Hadımköy areas, which formerly belonged to Çatalca district, are currently included within the boundaries of Arnavutköy. Meanwhile, Yeniköy and Karaburun villages, which formerly belonged to Taşoluk Municipality, will soon become part of Arnavutköy district.