September 5, 2007
ISTANBUL: CULTURE CAPITAL 2010
Istanbul, Turkey’s most populous city, has been awarded the third and final nomination for European Capital of Culture 2010 ahead of Kiev, Ukraine’s capital. The move is expected to benefit the city’s fast-growing property market. Announced in Brussels, the nomination prompted elation from both the Turkish delegates present and in Istanbul itself.
“This will become a major agent of change for Turkey,” shares Nuri Colakoglu, a spokesperson for the Istanbul bid. “This shows everybody that this model will solve problems in Turkey. We have put our heart and soul into this bid and we expected to win.”
The chairman of the independent judging panel, Sir Jeremy Isaacs, praised the “pleasingly popular” bid. Isaacs claims that the bid was very well prepared and extremely professional. “Interestingly, the Istanbul application did not begin either with the government of Turkey or with the government of the city of Istanbul, but with groups of public-spirited citizens who took into their own hands the initiatives of leading their city towards this bid,” the chairman adds.
The announcement sees Istanbul sharing the limelight with Pecs in Hungary and Essen in German. It will influence large scale investments that should help the property market and also pave the way for an injection of funds into Istanbul’s cultural infrastructure. This in turn will bring long-term benefits for property in Istanbul,Turkey. Previous awardees, like Spain’s Salamanca, have enjoyed long-lasting tourist surges after receiving the award as a result of substantial public and private development investments. New public works and visitor initiatives will greatly boost Istanbul’s already rapidly blooming tourist coffers and will help increase the city’s profile.
So far most investments in the Turkish real estate market have been focused on the country’s coastal resorts, but the old Ottoman capital has been recognized as a possible boom market by the national government. Several huge infrastructural developments are already taking place in Istanbul.
It’s also possible that the recognition will positively affect Turkey’s application for a European Union (EU) membership. The award is the last one to be granted to cities that are not members of the EU. The backers of the Istanbul nomination disclosed that they are determined to “take this one opportunity to show that Istanbul can more than hold its own against other great cultural destinations”. Representatives from the EU will be constantly observing developments in Istanbul through end of 2010. The close cooperation between the EU and Turkish authorities is hoped to strengthen the alliance between the two bodies.
Posted on: Turkey
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