Feb 5, 2023

Turkey Real Estate: The New Financial Center

International strategic projects in Turkey are in continuous prosperity, particularly in Istanbul, and in several aspects and fields, which greatly affect Turkey real estate prices and the attraction of global investors to them. It must be noted that one of the most important strategic projects in Turkey is the New Istanbul Financial Center project, which was opened in 2023 and is located on the Asian side of Istanbul in the Atasehir area, near the Umraniye area.

The new financial center project, with its international specifications, is not a project that affects the local economy in Turkey or the global economy, but even the Turkey real estate market and Istanbul real estate in particular. This project is truly an integrated economic renaissance, from location to capabilities, then location to spaces and economic components, due to the institutions and headquarters it contains, and due to the Turkey real estate projects surrounding it that include different types and styles of Turkey real estate. Before talking about the New Financial Center, we will first talk about Turkey real estate, because this center has a great impact and influence on it.

Investing in Turkey real estate

Investing in Turkey real estate is considered one of the most attractive options for foreign investors. Turkey has a distinguished strategic location between the continents of Europe and Asia, which makes it an exciting investment destination. It also contains huge strategic projects that will change the compass of the global economy. Turkey real estate market enjoys a great diversity of offers, as a variety of Turkish properties are available in various styles, spaces, and locations, whether through apartments, luxury villas, commercial projects, hotels, and residential complexes.

Turkey real estate is an active, developing and diverse real estate market that is witnessing continuous growth, thanks to the increasing demand for Turkish real estate by local residents and global investors. The Turkish government also provides interesting facilities such as obtaining Turkish citizenship through a real estate investment worth $400,000, which attracts more international investors to the Turkish real estate market.

In addition to significant financial returns on capital, investing in Turkish real estate provides opportunities to obtain real estate residence permit by purchasing a property worth $200,000, which increases the attractiveness of the market for international investors. Thanks to these opportunities with huge government projects, real estate investment in Turkey is an excellent attraction for investors looking for profitable and stable investment opportunities in an active and diverse real estate market like Turkey real estate market.

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Location and description of the center:

The center was opened in April 2023. The New Istanbul Financial Center is located on the Asian side of Istanbul in the Atasehir district, near the Umraniye area. From here, it becomes clear to us why Turkey real estate prices have risen in both regions.

The most important feature of the location of the New Financial Center is that it is in Istanbul, the economic capital of Turkey. Also, one of the most important features of the location of the financial center is the presence of an international airport in Istanbul, with a capacity of up to 200 million people throughout the year, which made it win the largest international awards.

The area of Istanbul Financial Center is estimated at approximately 3.5 million square meters, where an area of 1.4 million square meters has been allocated, including office buildings. The center includes the following:

A 100,000 square meter shopping mall. A conference center with a capacity of 100,000 people. A multi-purpose exhibition hall. A parking lot with a capacity of 26,000 vehicles. A five-star hotel. A financial education center. Spaces for entertainment areas.

All buildings in the center enjoy the latest smart technology
The financial center includes financial auditing institutions, buildings belonging to the Turkish Central Bank, in addition to the main headquarters of Turkish government banks such as: Ziraat Bank, HALK BANK, and VAKIF BANK.

The Istanbul Financial Center also includes the headquarters of the Banking Regulation and Supervision Agency (BDDK) and the Capital Markets Board (SPK), and other financial organizations and institutions such as the Arbitration Center of the International Finance Corporation, in addition to the financial courts and the Islamic Arbitration Center, which specializes in arbitration matters for Islamic banks.

The role and importance of Istanbul New Financial Center:

The importance of the New Istanbul Financial Center is highlighted not only in terms of Turkey real estate, but also as an integrated strategic financial system based on an incubator environment for financial institutions, whether Turkish or international. The center attracts financial institutions, financial investment companies, and investment portfolio management companies, in addition to Islamic and traditional financial and banking institutions.

The establishment of the new Istanbul Financial Center is considered of utmost importance in terms of Turkey's presence on the global financial scene, in addition to the income expected to be achieved during the next 15 years as planned, which was estimated at about 250 billion dollars. It is also expected that there will be an increase in the size of the Turkish economy, amounting to more than $160 billion during the same period.

It is also expected that the center will generate an income estimated at 250 billion US dollars, as well as added value that will be injected into the Turkish economy in a sustainable manner. Among the long-term plans is for the total income value to reach more than 160 billion dollars 15 years after its opening.

The Turkish government is working to make the new Istanbul Financial Center a regional and international hub for financial technology, by carrying out multiple and diverse financial activities and hosting a number of international courts, such as: the Arbitration Center of the International Finance Corporation, and the Islamic Arbitration Center, which specializes in arbitration affairs for Islamic banks.

The impact of Istanbul New Financial Center on Istanbul:

Istanbul is considered one of the most important cities in the world and has deserved to have a position that attracts foreign financial investments and become one of the financial capitals of the world, through various investment sectors, whether in Turkey real estate or other types of investment.

The Istanbul Financial Center is considered an attractive factor for local and international financial companies that will seek to own their headquarters in the city, as the goal of the financial center project is for Istanbul to become the capital of global finance.

The establishment of the new financial center led to a boom in Turkish real estate and construction projects in the regions of Atasehir and Umraniye and their surroundings, as the region turned into a focal point that attracts Turkey real estate and residential and investment real estate projects due to the expected future that this region will have and the need for housing in it, especially for the employees of this giant center.

Today, the Atasehir and Umraniye regions in Asian Istanbul are the focus of attention of local and foreign businessmen and investors, due to the influx of investments in the real estate field and several other areas that the new Istanbul Financial Center will provide to the city in general, to the region in particular, and to Turkish real estate.

If you would like to know more about Turkey real estate, do not hesitate to contact us via WhatsApp, here. The real estate consultant will contact you immediately.

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