Turkey’s new financial district brings it a step closer to being a regional business hub
Business and Economics, Cross-regional and Blogosphere, PhotoblogNo Comment
A view of the site where Istanbul's new financial district will be built.
This photo essay is likely to be especially interesting to neweurasia’s business-minded readers. Turkey’s ruling Justice and Development Party (AKP) is trying to establish Istanbul as a global financial center similar to New York, London, and Shanghai. Experts I spoke with recently explained that the city is currently a “regional diversified” global financial center. This means that it is serves the surrounding countries, such as those in the Balkans, the Middle East, and Central Asia.
The Turks have been trying to up their business in Central Asia. Due to the bureaucratic nature of Central Asia, it’s been slow going, but the Turks won’t be deterred. The goal of the new financial center is to attract investment to Turkey and also increase the country’s importance as a hub from where companies can spread out across the region. There are direct flights from Istanbul to numerous Central Asia cities and the Turks want to become the people that lead the way to business there.
Ismael, part of a group of nine families who settled on property at the foot of the new financial center, describes who the area was once an isolated area of Istanbul, with no electricity or running water.
A new office building in the Atasehir municipality of Istanbul
Construction workers in Atashir with new municipality built apartment buildings in the background.
A worker lays line for natural gas in Atasehir.
A chef in a restaurant near the financial district site that was once in the Umraniye district of Istanbul. The area was rezoned to become part of Atasehir to expedite the construction of the financial district.
An elderly couple on new exercise equipment outside of TOKI buildings in Atasehir.
A new municipality built green-space in Atasehir.
TOKI, Turkey's Housing Development Administration, which is directly attached to the prime ministers office is the driving force behind construction in Atasehir.
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