The iFC will gain from Turkey’s distinct geographic location at the nexus of international markets, access to a large domestic economy, modern-day facilities, cutting-edge facilities and forward looking, encouraging legislation and rewards.
Arda Ermut, CEO of the Türkiye Wealth Fund, said: « The opening of the Istanbul Financial Center is an essential milestone both for Turkey’s growing and dynamic economy, and wider regions. Found in Istanbul, currently an international center, the iFC will further assist in and support capital flows at an international level. While eyes throughout the world are on the city and the Formula 1 this weekend, we are thrilled to be able to bring attention to the iFC. »
The iFC will support the entire of the global financial services industry, with a focus on Turkey’s strengths in banking, insurance coverage, green finance, fintech and Islamic finance. The iFC will be underpinned by guideline showing international best practice and supported by government-led incentives. The structures of Turkey’s monetary services sector, including the central bank, monetary regulators, the stock exchange and 3 leading public banks will relocate their head office to the iFC and lots of worldwide investors have currently consented to open regional offices there.
Istanbul has simple access to a total population of 1.6 billion, and a market worth $30trillion in Europe, the Middle East, North Africa, and Central Asia, all within a 4-hour flight radius. The iFC lies in Istanbul’s Ataşehir district, 35 minutes’ drive from both global airports of Istanbul. The gross leasable area will be slightly more than 1.5 million sqm, hosting up to 50,000 employees. This includes 1.4 million sqm of modern workplace, a 100,000 sqm shopping center, a 30,000 sqm 5-star high-end hotel, a 22,000 sqm conference centre and over 26,000 units of parking area. The land is 300,000 sqm and more than 200,000 sqm consists of recreational, common, and green areas.
The iFC will open for regional and global tenants by H2 2022.
This weekend the iFC name will be prominent at the Formula 1 Rolex Turkish Grand Prixhosted at Istanbul Park, where it will be an Establishing Partner. As part of the sponsorship iFC will unveil its new logo, branding and global website.
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