By Justin Mays:
As the largest city in Turkey, Istanbul has multiple business districts and is considered the country’s economic and cultural hub. With its fast-growing economy, industrial zones manufacturing everything, from textiles to electronics to chemicals, a robust tourism sector, several global financial firms, and international companies, it is no surprise the city can support several centers of commerce and industry.
Istanbul’s geography makes it a maritime hub, perfect for companies involved in imports and exports through its thriving container port connected to the railway network. With its complete financial services ecosystem, large domestic economy, and long history of hosting multinational corporations, Istanbul is also a hub for global capital flows.
Between Umraniye and Atasehir, the ambitious Istanbul International Financial Centre (IIFC) will be the city’s major business district serving many sectors over its 723,00m2 of office and retail space, residential buildings, hotels, conference center, mosques, schools, and other community facilities. Expected to be launched in early 2022, the Financial Centre district will become a focal point globally and it’s estimated that 30,000 people will locate there. Modern Atasehir is located at the junction of the O-2 and O-4 motorways on the Asian side. Most of the buildings are newly built high-rises with many luxury flats to buy.
Also located just south of Atasehir on the Anatolian side of the city, Kazyatagi and Altunizade have fewer business districts with many commercial towers and plazas. Maslak boasts well-established main business districts, dominated by its skyscrapers inhabited by companies from the finance, insurance, and banking sectors. The area offers a prime business address on the European side. Maslak is situated next to a highway for easy access to Istanbul International Airport and is accessible via the metro and other forms of public transportation. There are many hotels, restaurants, bars, shopping centers, and leisure facilities in the area.
Smaller business districts on the European side of Istanbul are Levent, Sisli, and Beyoglu. Levent is adjacent to Maslak and experienced heavy development in the 90s and early 2000s whereas Sisli and Beyoglu are more historical areas with a mix of old and new buildings. All three areas have great shopping opportunities and loads of accommodation for visitors.
Rounding out main business areas in Istanbul is the Basin Express located in Bagcilar on the European side of the city, between the TEM and the E5. Built around their access to industries including light engineering, textiles, and printing and home to media offices, the real estate market has responded in kind by building huge residential, office/industrial, and investment projects in the region.
Businesses looking to expand their influence in the region are smart to locate Turkey. Its unique geographic location at the nexus of global markets, access to a large domestic economy, modern infrastructure, and forward-looking incentives combined with supportive legislation at the local and national levels, make this a strategic place to invest in.