Istanbul Financial Center project, which will be located within the borders of Istanbul’s Umraniye district and extending to Atasehir, will compete with the most important centers in the world. For instance; Dubai Finance Center, London Canary Wharf, New York Manhattan, Tokyo Midtown, Hong Kong ICC. The financial heart of Asia and Europe will beat in Turkey thanks to this center.
Which buildings will be in the Istanbul Financial Center?
Istanbul Finance Center or Istanbul International Finance Center is a project which is at the intersection of Umraniye and Atasehir. According to the statement of The Ministry of Environment, Urbanization and Climate Change, Istanbul will become an international financial center.
According to the official statements, the aim is to make IFC a 24 hours-active center. IFC, with 4 main regions, will include private and public institutions, banks, various financial institutions and their affiliates. The project will contain offices, a mall, a hotel, a conference center in addition to social areas.
The office buildings will belong to banks and insurance companies. Spreading over an area of 100,000 m2, IIFC Mall will meet the needs of all employees and visitors. The five-star hotel will provide great social facilities such as a gym, swimming pool, and world-class spa. The conference center will host several national and international events such as concerts, cultural and artistic.
IIFC will make a sustainable contribution to the economy
Arda Ermut, chief executive officer of Turkey Wealth Fund made important statements regarding Istanbul Financial Center. He said; “When IFC starts its operations, it will have an important role for both Turkey’s growing and dynamic economy and regional finance. IFC will further facilitate the international capital flow. As the ecosystem in the project increases the diversity and volume of financial products and services, Turkey will get a bigger share from the global money markets.’’
How to get to Istanbul Financial Center
Murat Kurum, Minister of Environment and Urbanization, stated that “The whole construction of the Istanbul Finance Center (IFC) will be ready in 2022. IIFC will be a very convenient area for transportation due to the under-construction metro. Only after 15 years, the project will provide Turkey’s economy with an income impact of $250 billion and an added value of $160 billion.’’
Paving the way for development of financial services
Istanbul Financial Center will have a wide ecosystem that brings together different players in the field of financial services and enables institutions to feed off each other. In order for this ecosystem to function, the necessary legal legislation studies are meticulously managed in accordance with the claim and objectives of the project.
With the incentive and exemption structure planned to be presented within the IFC, it is planned to provide a high level of benefit to Turkey’s economy. It is planned to establish a balance with respect to meeting the current financial institutions and market expectations. Besides, companies that want to be in IFC will be able to operate when they get a participant certificate.
One of the strategic goals of the project is that IFC is a regional and international fintech center. Numerous fintech companies, both nationally and internationally, will be here when the project begins to operate at full capacity.
An international business and culture area
Istanbul Financial Center has a construction area of approximately 3.5 million square meters. Office areas of 1.4 million m2, a shopping center of 100 thousand m2, a congress center with a capacity of 2 thousand 100 people and a multi-purpose performance hall. Moreover, a 5-star hotel, a financial education center, a parking lot for 26 thousand vehicles, recreation areas. It is preparing to meet all the needs of the financial and business world. Right in the middle of three bridges and two airports on the Asian side of Istanbul, IFC provides easy access.
The first of the main points that distinguish IFC from other financial centers in the world is that thanks to the fact that a significant part of its construction took place during the coronavirus pandemic, it is ready against similar global crises that may occur in the future.
One of the most important promises of IFC to its investors is first-class technological infrastructure opportunities. In addition to providing high efficiency, 75,000 employees and visitors will visit Istanbul Financial Center daily. All kinds of needs related to the Internet of Things (IoT) will be also met.
