İstanbul Finance Center Increased the Value of the Region

İstanbul Finance Center Increased the Value of the Region

Istanbul Finance Center that its foundation was laid by Prime Minister Mr. Binali Yıldırım in 15 October, added value to the value of Anatolian side. Works accelerated following the groundbreaking of BDDK and SPK buildings. Most of the Finance Center, which will occupy a 3 million 200 thousand square meter area, will be completed in 3 years. The target is to complete the construction by 2020.

The project that is being implemented in order to make Istanbul the new financial center also brings the need of residences for the new employees that will live in the region. In the project that will be like a small scale city, the target is to have 50 thousand employees and more than 30 thousand daily visitors. 

Along with the office supply, the new residence supply is also increasing. It is expressed that the declaration of the project regarding its beginning to be built in 2009 has increased the demand in Ataşehir. However the rentals also increased in Ataşehir along with the demand. Now to rent a residence in Ataşehir starts with 2.000 lira.

Besides Ataşehir, the region to Ümraniye, Kozyatağı and Göztepe is preferred and now all the area up to Şerifali, Yeni Sahra, Sancaktepe, Dudullu, Çekmeköy get the attention of investors.

Residence prices increased

Qualified residence square meter prices were 5.500-6.000 lira in 2013 in West Ataşehir but they increased to 7.500-10.000 lira by this year. With the Finance Center since 2012 Sancaktepe, Dudullu, Çekmeköy residence projects have 30% increase in prices.

Authorities indicate that the square meter of the offices in the region was sold between 5.000 and 6.000 lira in 2012 however the price level increased to 12.000 – 14.000 lira in 2016.