Istanbul’s Financial District Opens: A New Era of Finance and Urban Development

Written by Mustafa YILMAZ.

This article was published on 01 Jun 2023

Ataşehir, Istanbul is now home to a brand-new financial district, spanning a massive 45 million square feet of land. Construction of this ambitious project began in February 2016, with the aim of transforming the area into a bustling hub of economic activity. This is an ambitious project that has reached completion after significant investments totaling 65 billion liras. The district, brings together major banks, regulatory bodies, and financial institutions from both the country and abroad.

The financial district boasts a number of remarkable skyscrapers, including the tallest building in Turkey. The central bank will occupy this iconic structure, which not only serves as a symbol of the country’s financial prowess, but also demonstrates the innovative architectural design that characterizes the district. Numerous other skyscrapers have been built, each showcasing unique features that contribute to the overall aesthetic of the area.

The financial district boasts a number of remarkable skyscrapers, including the tallest building in Turkey, which will be occupied by the Central Bank. The district features 21 office buildings with a total area of 1.4 million square meters, and a 100,000 square meter shopping area. An impressive 180,000 square meters of green spaces have been allocated, creating a harmonious balance between urban development and nature.

Several major banks, including Vakıfbank, Ziraat Bank, and Halk Bank, have established their headquarters within the district, signifying the importance of this location for Turkey’s financial sector. Additionally, regulatory bodies, such as the Banking Regulation and Supervision Agency (BRSA) and the Capital Markets Board of Turkey (CMB), will also be based here, ensuring that the district functions as a centralized hub for finance and regulation.

To accommodate the increased traffic expected as a result of the new financial district, the M12 metro line is set to open next year. This vital addition to Istanbul’s public transportation network will not only connect the financial district with other parts of the city, but also help to alleviate traffic congestion in the area, making it more accessible and convenient for both workers and visitors.

Designed with the smart city model in mind, the financial district also offers state-of-the-art facilities, including a congress center with a capacity of 2,100 people, a 5-star hotel with an area of 30,000 square meters, and training centers focused on the financial sector. These amenities are expected to attract prominent international banks and financial institutions, solidifying Istanbul’s position as a global financial powerhouse.

Ataşehir itself is an upscale and rapidly developing region of Istanbul, featuring iconic landmarks such as the Metropol, a stunning architectural marvel that serves as a testament to the area’s commitment to innovation and modernity. The district is home to a high demographic, with many affluent residents attracted by the area’s growing reputation as a thriving center for business, culture, and luxury living. The new financial district will undoubtedly contribute to the ongoing growth and success of Ataşehir, solidifying its status as a key player in Turkey’s economic landscape.

Certainly, another significant advantage of the new financial district in Ataşehir is its convenient access to Levent, Istanbul’s primary business district. This easy access between the two major business hubs will undoubtedly contribute to the continued growth and prosperity of Istanbul’s economy, establishing it as a powerhouse on the international stage.

The new financial district will also generate employment opportunities for approximately 50,000 people, fostering economic growth and development in the region. With the opening of this new district, Istanbul takes a major step towards becoming a leading financial hub, rivaling the likes of London, New York, and Singapore.

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