Istanbul Financial Center

Istanbul Financial Center
Istanbul Financial Center
General information
Status	Active
Architectural style	Postmodernism
Location	Ümraniye
Town or city	Istanbul
Country	Turkey
Opening	17 April 2023[1]
Cost	₺65 billion[2]
Other information
Parking	26,500 vehicles[3]
Public transit access	Istanbul Metro: Yenisahra Finans Merkezi
Website
Official website

The Istanbul Financial Center (IFC),[a] is a financial district serving banks, autonomous public institutions, multi-national companies and their related back offices and service firms.[4] Located on the Asian side of Istanbul in the Ümraniye district, the IFC seeks to consolidate various financial institutions, services, and infrastructures within a designated area to promote collaboration, efficiency, and growth within the financial sector.

The Istanbul Financial Center, which employs approximately 100 thousand employees, consists of offices, shopping malls, hotels, conference and exhibition centers.[5]

Development

The concept of the Istanbul Financial Center emerged in the early 2000s as part of Turkey's broader economic vision to elevate its status in the global financial arena. The project gained momentum with the formal announcement by the Turkish government in 2009, signaling its commitment to transforming Istanbul into a significant financial hub. Subsequent legislative measures and substantial investments were made to advance the project.[6]

In 2023, the opening ceremony of the Istanbul Financial Center was held with the participation of the President.[7]

Location

Situated between Ümraniye and Ataşehir districts on the Anatolian side of Istanbul.

Components

The Istanbul Financial Center comprises several components designed to accommodate diverse financial activities and services.[8]

Financial Institutions

The center hosts leading banks of the country, investment firms, asset management companies, and other financial institutions.

Regulatory Bodies

Regulatory agencies such as the Banking Regulation and Supervision Agency (BRSA) and the Capital Markets Board of Turkey (CMB) have a presence in the center to ensure compliance with regulations and maintain market integrity.

Business District

A modern business district within the center provides office spaces, conference facilities, and commercial amenities.

Infrastructure

The Istanbul Financial Center features telecommunications systems, high-speed internet connectivity, to meet the technological needs of financial institutions and businesses.

Residential and Recreational Areas

The development includes residential complexes, hotels, restaurants, and recreational facilities, creating a vibrant living environment for the employees, as well as attracting international professionals and visitors.

Istanbul Financial Center and the skyline of Ataşehir district on the Asian side of Istanbul

See also

• CBRT Tower

References

1. "Istanbul Finance Center 'to help draw investment' - Türkiye News". Hürriyet Daily News. 17 April 2023. Retrieved 30 March 2024.
2. Orkan, Semra (17 April 2023). "Bakan Kurum: İstanbul Finans Merkezi bölgede bir cazibe merkezi olacak". Anadolu Ajansı. Anadolu Ajansı. Retrieved 19 April 2023.
3. "İstanbul Finans Merkezi'nde kiralamalar başlıyor - Capital". Capital Online (in Turkish). 11 June 2022. Retrieved 19 April 2023.
4. "Istanbul International Financial Centre - Arup". www.arup.com. Retrieved 30 March 2024.
5. "Istanbul Finance Center opens with inauguration of banking section | Local News". Yeni Şafak. 17 April 2023. Retrieved 30 March 2024.
6. "Türkiye introduces Istanbul Finance Center". Ernst & Young. 9 June 2022. Retrieved 30 March 2024.
7. "The opening ceremony of the Istanbul Financial Center was held in Istanbul with the participation of the President". Steel Radar. 18 April 2023. Retrieved 30 March 2024.
8. "Türkiye opens long-anticipated Istanbul Finance Center". Daily Sabah. 17 April 2023. Retrieved 30 March 2024.

Notes

1. Turkish: İstanbul Uluslararası Finans Merkezi

41°0′4.77″N 29°6′36.45″E