A 5000 year- old underground city thought to be the largest in the world has been discovered in central Turkey. The subterranean settlement was discovered in the Nevsehir province of Turkey's Central Anatolia region, in the historical area of Cappadocia. Cappadocia is famous in archaeological circles for its large number of underground settlement. This area rich in history from the Hittite times before 1,700 B.C. and was once a part of the Roman Empire. The city, found in the province of Nevsehir, was discovered while developers were excavating for a new housing development in the area known in archeological circles for the amount of underground settlements. The project has since been cancelled. Despite the fact that nearly US$ 38.6 million have been spent on the housing development, the Turkey Housing Development Administration (TOKI) doesn't feel it is a loss. The underground city was found in the 45 hectares of the total 75 hectare area. Tunnel passages of 7 kilometers are also discussed. Project started in 2012. The underground city was discovered when the company began the destruction in line with the protocol. The first galleries were spotted in 2013. Escape galleries and churches were found in the underground city and the site has now been registered officially with the Turkey's Cultural and Natural Heritage Preservation Board, officials said. It is not the first underground city to be found in the Nevsehir area, but it is the most massive.

One of the world's spookiest "ghost towns" - abandoned nearly 100 years ago in the fallout of the First World War -could be reborn as a major tourist hub. To capitalize on its growing popularity among intrepid holidaymakers, Turkey's government is auctioning off a 49-year lease on the deserted village of Kayakoy (know by the Greeks as Levissi) in return for its partial restoration. Set against the Taurus Mountains, the village has hundreds of crumbling stone houses and two churches that seem to be trapped in time. Dating as far back as the 18th century, the weathered ruins are part of a protected archaeological site that has become a big draw for travelers. Turkey has announced that it will partially open the archaeological site to investors and the restoration project will include a hotel and tourist facilities that will encompass one-third of the village, the Hurriyet Daily News reported. That is, if someone submits a successful bid in the auction on 23 October. An auction held last year was unsuccessful. The project is expected to cost US$ 13 million and two companies have already expressed interest in bidding, but critics fear the town could lose its authenticity or originality, according to the newspaper. Kayakoy, a Unesco World Friendship and Peace Village, is located in the Fethiye Peninsula, not far from white sand beaches and pricey resorts on the Aegean coast. The village was abandoned when its inhabitants returned to Greece in a population exchange between the two countries in 1923 following the Greco-Turkish War.

More than 150 years since it was first dreamed up by an Ottoman sultan, Turkey on October 29 unveiled the world's first sea tunnel linking two continents. The tunnel, which has taken nine years to construct under the Bosporus straits, is part of Istanbul's metro service, and will connect the European and Asian sides of Turkey's biggest city. Known as the Marmaray metro link, it is slated to revolutionize the city, where public transport is limited and traffic jams are the stuff of legend. First suggested by Ottoman sultan Abdoul Medjid in 1860, it wasn't until 2004 that Erdogan - then Mayor of Istanbul - gave the final go-ahead for the tunnel, as part of a series of lavish construction projects for the city including a third airport, a parallel canal and a third bridge. Nine years after Erdogan gave it the green light, the US$ 4.6 billion first stage of the Marmaray project is now opened - four years behind schedule. Presenting something of a technical challenge, the 1.4 kilometer long undersea tunnel was constructed by lowering steel-lined pre-cast concrete sections into a trench excavated 60 meter down on the seabed of the Sea of Marmara, where they were then buried. A further 12.2 kilometer of on-land tunnels connect the three stations which make up the project's first phase. The rail tunnel is said to be earthquake-proof, an important consideration in an area plagued by strong seismic activity.

A mosque set to be built in the western province of Bursa will use solar and wind power to produce electricity. Nilufer Trade Center Mosque, which is set to be completed in 2015, may be the first mosque in Turkey that produces and uses renewable energy. Celik Erengezgin, the architect of the mosque project, believes that the project will be an example for other mosques. Solar panels will be placed on top of the mosque. A wind turbine will be installed on the minaret. Also snow and rain water will be collected for the worshippers' water needs. The mosque will produce its own energy and sell what it does not use. The mosque will produce 120 kilowatt of electricity but consumes only 50 kilowatt. The remaining amount can be sold to the state. Erengezgin said Turkey's Religious Affairs Department had responded positively to his project. He also wanted to produce electricity from the pressure exerted on the floor by the worshippers during prayers. This is not part of the current project but he hopes to implement it also. "We will tell the worshippers, you can charge your cell phones here, because you have produced this energy, while praying on the floor of the mosque".

The increased tax burden and greater complexity of a new real estate tax system in Turkey may discourage foreign investors, reported the Hurrietdailynews. The new value added tax (VAT) law, which will especially impact small luxury houses located in metropolitan areas, smaller than 150 square meters and licensed by the end of 2013, could intimidate property buyers because of a remarkable price increase. The tax regulation revamps the VAT rate on real estate. With the changes, a tax of 8 percent will be assessed on houses under 150 square meters with a value of US$ 280-560 per square meter, while VAT of 18 percent will be levied on houses worth in excess of US$ 560 per square meter. The sector had been witnessing an increase in foreign real estate acquisitions since the enactment of a bill removing the condition of reciprocity and eased restrictions on the sale of land and real estate to foreign citizens and firms in May of last year . In May alone foreign real estate acquisitions in Turkey reached US$ 1.1 billion, which is four times the total number in 2011. Nearly 112,300 foreigners have bought 90 thousand properties equivalent to 24.1 million square metres area in only top ten Turkish cities, while Antalya is the leading province where 34,078 properties has been sold. The new tax will put the Turkish real estate sector in a disadvantageous position against its global rivals. In addition to the price surge, foreign real estate investors might refrain from buying real estate properties because of the difficulty of comprehending the puzzling structure of the new system. Under the new system the tax amounts are determined by the Ministerial Council with regards to six different variables - size in square meters, value of one square meter, luxury house status, license year, the neighborhood and the status of the city (metropolitan or not) - which makes it harder for foreign investors to understand the system.