By. Justin Mays
The Gulf States have shown interest in the financial hub being constructed in Turkey, the Istanbul Finance Center (IFC). These States are known for their venture in real estate and some have since made inquiries on the project. The most interested are Qatar, United Arab Emirates, and Saudi Arabia.
Construction of this project began in 2009 and is supposed to come to completion in the middle of 2022. The Istanbul Finance Center project is undoubtedly on the radar of investors. The head of the Presidency office; Goksel Asan indicated some Gulf States had talks with Turkey for financing this project. Some of the offices of different institutions in gulf countries will be hosted at the Istanbul Financialn Center. This landmark project will be offering services to public institutions, multinational companies, and many banks.
Turkey’s President, Recep Tayyip Erdogan emphasized that this project, which is in the Atasehir district in Istanbul, is going to become an Islamic finance pivot. He also anticipates for the IFC to become an important center in the world. State-owned banks and regulatory and supervisory bodies will also be located at IFC.
Izzat Dajani, Chairperson of the board of investment consulting firm, Capital Compass, underlined that these countries are large investors and have their eyes on Turkey’s tourism and service sectors and this will also pave the way to partnerships in the industry and technological sectors.
Dajani added that Turkey’s geographic location, skilled labor, and opportunities have made these interests rise up. He also indicated that there is potential for some international companies to move their regional offices to Istanbul.
