PR92182

ISTANBUL, Oct. 7, 2021 /PRNewswire=KYODO JBN/ --

·  Financial hub unites Turkey's financial services industry and international

investors in the heart of Istanbul, with ambitions to become one of the largest

financial centers in the world

·  Sponsors of this weekend's Formula 1 Turkish Grand Prix as part of global

marketing strategy

Research commissioned by Turkiye Wealth Fund forecasts that the annual value of

Turkey's financial services exports is to increase from US$2 billion to US$16

billion by 2036, with Turkey's financial services exports expected to rise to

1.3% of GDP, up from 0.3% in 2019. The iFC, a new financial center in Istanbul,

will be pivotal in helping to drive this growth with its complete financial

services ecosystem, delivering growth to both the Turkish economy and

international investors by promoting increased regional and global capital

flows.

The iFC will benefit from Turkey's unique geographic location at the nexus of

global markets, access to a large domestic economy, modern infrastructure,

state of the art facilities and forward looking, supportive legislation and

incentives.

Arda Ermut, CEO of the Turkiye Wealth Fund, said: "The opening of the Istanbul

Financial Center is an important milestone both for Turkey's growing and

dynamic economy, and wider regions. Located in Istanbul, already a global hub,

the iFC will further facilitate and support capital flows at a global level.

While eyes throughout the world are on the city and the Formula 1 this weekend,

we are delighted to be able to bring attention to the iFC."

The iFC will support the whole of the international financial services

industry, with a focus on Turkey's strengths in banking, insurance, green

finance, fintech and Islamic finance. The iFC will be underpinned by regulation

reflecting international best practice and supported by government-led

incentives. The foundations of Turkey's financial services sector, including

the central bank, financial regulators, the stock exchange and three leading

public banks will relocate their headquarters to the iFC and many international

investors have already agreed to open regional offices there.

Istanbul has easy access to a total population of 1.6 billion, and a market

worth $30 trillion in Europe, the Middle East, North Africa, and Central Asia,

all within a 4-hour flight radius. The iFC is located in Istanbul's Atasehir

district, 35 minutes' drive from both international airports of Istanbul. The

gross leasable space will be slightly more than 1.5 million sqm, hosting up to

50,000 employees. This includes 1.4 million sqm of modern office space, a

100,000 sqm mall, a 30,000 sqm 5-star luxury hotel, a 22,000 sqm conference

center and over 26,000 units of parking space. The land is 300,000 sqm and more

than 200,000 sqm consists recreational, common, and green areas.

The iFC will open for local and international tenants by H2 2022.

This weekend the iFC name will be prominent at the Formula 1 Rolex Turkish

Grand Prix hosted at Istanbul Park, where it will be a Founding Partner. As

part of the sponsorship iFC will unveil its new logo, branding and

international website.  

For further information, please visit www.ifc.gov.tr.

Photo - https://mma.prnewswire.com/media/1655190/Turkiye_Wealth_Fund.jpg

Source: Turkiye Wealth Fund