Property Guide Turkey

Istanbul International Finance Center Project

Turkey will take its place among the world’s major financial centers with its young and dynamic population, geopolitical advantages, fast growing and developing economy, skilled workforce and developed markets. Istanbul is the natural financial center of Turkey. It has the potential to be an important center for the collection and redirection of financial resources of the region. Istanbul International Finance Center Project is the giant project that will put Turkey among the world’s 10 largest economies in 2023. The project is on the way to becoming a project where banks and institutions will come together.

Under the coordination of the Prime Ministry, Ministry of Environment and Urbanization and Finance Ministry, the construction of the project continues in Ataşehir, the Asian side of Istanbul. The exact delivery date of the project is unclear. However, it is expected to be completed by 2023. Istanbul International Finance Center Project is planned not only to change position of Turkey in the international market, but also to change the living standards in the region. It is planned to be built on an area of approximately 3,200,000 square meters.

The Strategy and Action Plan of the project was prepared by the State Planning Organization Coordination. It approved by the decision of the High Planning Council on September 29th 2009. In addition to this, Istanbul International Financial Center Strategy and Action Plan is regulated by the Presidential decree no. 27568 dated May 1st 2010. It is consisting of 71 articles aiming;

– Legal infrastructure up to international standards;
– Diversity of financial products and services;
– Simplifying and increasing the efficiency of the taxation system;
– Developing participation banking and Islamic financial system.

Istanbul International Finance Center Project

Istanbul International Finance Center Project will gather state banks such as Halkbank, Vakifbank, Ziraat Bank and institutions such as SPK and BDDK in a single center. Project will be the representative and pioneer of innovative and sustainable development with projects to be developed on private land.

This will surpass its competitors in the MENA Region (Middle East and North Africa). It includes housing islands divided into various sizes, with their own semi-private public spaces, inner court and commercial areas. The open space is considered as both green space and public common areas. The preparations for the connection of Istanbul International Finance Center clustering zones and Sabiha Gokcen Airport, metro, Marmaray and other rail systems are continuing.

Being a regional and global financial center of Istanbul will contribute to help increase economic growth in Turkey. It is important to emerge as a competitive structure by making the necessary changes for Istanbul to take an important role in the direction of regional and global capital.

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