Wall Street Heads East: Istanbul International Financial Centre sees investors look to cash in on bricks and mortar

Wall Street Heads East: Istanbul International Financial Centre sees investors look to cash in on bricks and mortar

  • London named as world’s leading financial centre (GFCI)
  • Istanbul set to become a global financial centre with new master plan underway
  • The new International Financial Centre expected to generate growth in Turkish property market

According to the newly released 2015 edition of the Global Financial Centres Index (GFCI), London has now become the world’s leading financial centre. Stealing New York’s crown, this important report ranks the world’s 84 leading financial cities based on a survey of industry professionals and data from both the World Economic Forum and the UN.

Although New York holds on to second place comfortably, it is Asian cities that take the next four spots: Hong Kong, Singapore, Tokyo and Seoul, raising the question: Is the dominance of Wall Street starting to move eastward?

With this in mind, it is no surprise that the master plan for Istanbul’s International Financial Centre (IFC) has been developed, with the Turkish government’s goal to establish the city as a global centre for finance taking firm shape. The project is progressing in correlation with the main aim that Turkey will become one of the 10 largest economies in the world by 2023, the country’s 100th anniversary.

The vision of the Istanbul International Financial Centre project is defined in the notion that “Istanbul will become a regional, and then a global financial centre”. With proven success as a property investment hotspot, making its mark on the international housing market, Istanbul’s global presence will go from strength to strength now the construction of its International Financial Centre has begun.

Adil Yaman, Director of South-West Istanbul’s leading property agency Universal21, comments on the exciting potential the IFC will bring,

“We have always believed in Istanbul’s potential as a global hotspot, from tourism to property and now, in the wake of this new master plan, the world of finance. As we experience ever increasing buyer enquiries it is apparent that international interest in Istanbul is mounting, and this will only build further with the introduction of the new International Financial Centre.

“The International Financial Centre will create endless opportunities for the global development of Istanbul, as well as a host of possibilities for its property market. Demand for housing in Istanbul is likely to rise due to those finding working in the new financial district, with investors looking to capitalise during this exciting period of change in the city. I look forward to a future where Istanbul will rival London and New York as the world’s financial capital.”

Already a prominent metropolitan city, Istanbul’s geographical location will bring together investors as well as financial companies within the triangle of Central and Eastern Europe, the Middle East, and Central Asia. A prime location for both the financial and real estate markets, a key criteria in order to develop an International Financial Center, the future looks bright for Turkey’s most populous city.

Located just an hour away from the upcoming financial district, the more relaxed area of Beylikduzu could offer a serene atmosphere to come home to whilst still being in close proximity to the new District. One project currently benefitting from growing interest is Universal 21’s Diamond Residence, just 20 minutes from the main Ataturk international airport and only a short drive from the beach.

Diamond Residence is comprised of 148 beautifully designed apartments, of both one and two bedrooms, and it also offers an array of excellent and functional facilities. These include 24 hour security, a Vitamin Bar, fitness centre, indoor swimming pool, children’s games room and cinema room.

One bedroom apartments are priced from £57,000 / €78,000, with two bed apartments priced from £98,000 / €132,000

For more information about Universal21, visit www.universal21.com or call 0203 287 8700.