Int’l funds will be at your doorstep on May 15: Minister

ISTANBUL

The Istanbul Finance Center (IFC) is an important project for the Turkish economy that will allow international funds to flow into the country, Environment, Urbanization and Climate Change Minister Murat Kurum has stated.

“The Istanbul Finance Center project will have a very important place in the future of the Turkish economy,” Kurum said at a news conference at the IFC.

“On the morning of May 15, all the funds will be at your doorstep. I went to all the international funds, and I met with all of them individually. You know what they want, if a leaf moves, they run away immediately. Because investors want trust, they want stability.”

Stating that IFC, which will mainly serve the Middle East and Europe along with Türkiye, has a project size of 65 billion Turkish Liras ($3.35 billion), Kurum said that the center is highly resistant to earthquake conditions with its solid ground covering 315,000 square meters.

Arda Ermut, the general manager of Türkiye Wealth Fund (TWF), the main partner of the project, stated that the IFC is not only a real estate project but also offers many opportunities in the field of finance for local and foreign companies with the incentives and advantages offered.

He noted that the attractiveness of the region will become apparent with the regulation to be issued soon.

“The financial incentives and the investment environment are attractive to investors,” Ermut said, “We are already pleased with the interest of global companies.”

Ermut added that the IFC is important for deepening the financial markets and for Türkiye to gain a larger share in the global financial markets.

The IFC project, which will become a hub for close cooperation with Turkish and international businesses and investors, includes the offices of the Central Bank of the Republic of Türkiye (CBRT), Banking Regulation and Supervision Agency (BDDK), Capital Markets Board of Türkiye (SPK), Borsa Istanbul, Türkiye Sigorta, Ziraat Bank, Halkbank, Vakıfbank and İŞ REIC.

The IFC will include 1.4 million square meters of office space, a 100,000-square-meter shopping mall, a congress center with the capacity to hold up to 2,100 people, a 30,000-square-meter five-star hotel and a car park with a capacity for 26,000 vehicles, all created within a “smart city” model.

The IFC will host up to 50,000 employees daily, offering a state-of-the-art working environment, as well as green space and leisure facilities.

The center is designed to deliver growth to the Turkish economy and international investors by becoming a regional center in the short term and a global center in the medium term.