Slum areas one step closer to becoming posh

On the outskirts of Istanbul, Yenibosna, Güneşli, Mahmutbey and Bağcılar have become important business and trade centers.

Like other areas in the city, these suburbs also did not exactly experience a proper urban development. This was because neither the local nor central administrations have paid any attention to these districts. Such unplanned structuring in the past has now transferred into several problems for builders, with inadequate infrastructure topping the list.

Recently, investments in this area - which could be tagged as ’varoş’ (suburbs) - have been noteworthy as important steps for making up for the previous unsuccessful development era. In Halkalı, to the left of Basın Ekspres Yolu, tens of thousands of homes are being constructed by the Mass Housing Administration, or TOKİ. On the right side of the road, meanwhile, it remains unclear in terms of what type of constructions will dominate the area. It could go either way: an industrial zone or a trade center.

On the right hand side of the Basın Ekspres Yolu, shopping malls, 5-star hotels, plazas, trade centers and even luxury residences are being built. On the back streets of Yenibosna, Güneşli, Mahmutbey and Bağcılar small to medium size living complexes, some of them expensive, are under construction. Nevertheless, the image of these areas labeled, as "varoş," is likely to stay for a long while despite new buildings.

These areas are also important because of being located on two sides of a major highway. It looks as if these areas will turn into a trade zone eventually.

The socio-economic make-up of the population living in Yenibosna, Güneşli, Mahmutbey and Bağcılar is low-income. Because of this fact, new and high quality houses for sale are not sold right away. Prices of new houses in these areas are always compared to the prices of TOKİ and KİPTAŞ, homes which are always at fairly reasonable rates. Medium income families in this area would look for new house over in neighboring Halkalı or Atakent. Those with a purchase power of 150,000-250,000 Turkish lira would prefer Halkalı over Güneşli. Despite this known trend, still, developers are building new compounds on the back streets of Güneşli and ask for prices ranging from 300,000 to 400,000 lira. Better quality ones go up to 500,000 lira.

In case TOKİ starts a new project here, it is a widespread belief among real estate agents that around 5,000 TOKİ units would be sold in a period of five to 10 days.

Beyond these housing developments, it is also highly probable that the need for A-class office spaces will hike in three to five years time. Real estate agents of the area underline the two strongest factors that support this theory: Closeness to Atatürk International Airport and being located adjacent to two main highways.

Some outstanding projects in the area are Atlas Konakları, Güneşli Konutları, Yeni Vadi Evleri and Golden Hill.

Developer of Atlas Konakları is proud to be at a central location where major destinations in the city are easily accessible. Airport is 5 kilometers to Atlas Konakları and a connecting road makes an easy access to TEM and E-5 highways. Size of units range from 135 square meters to 220 square meters. There will be 14 blocks with a total of 52 units.

Varol Yapı is building Güneşli Konutları. It comprises of three blocks; blocks A and B being residences while block C a business center.

Yeni Vadi Evleri, built by Ak Yapı İnşaat, is targeting the medium and high-income groups. It has six blocks and 90 units. Prices start at 290,000 lira and go up to 330,000 lira.

Golden Hill offers five blocks with 80 units. Bayraktar Otomotiv is developing the project. Sizes of its units vary from 150 square meters to 200 square meters. Prices are between 360,000 lira and 560,000 lira.