Turkey's economy is currently the world's 17th largest, but the country hopes to catapult itself into the top 10 by 2013. To help achieve that goal, the Turkish government is planning to build a landmark International Financial Center in Istanbul, which will consolidate the offices of the country's financical market governing bodies, as well as state- and privately-owned banks. This week, HOK released images and details about the master plan for the mega-development, which will include several environmentally-friendly features.
With With 13.5 million residents, Istanbul is the second-largest city in the world, behind only Shanghai. The 170-acre International Financial Center will be on the city’s Asian side, and it will contain 45 million square feet of office, residential, retail, conference, hotel and park space. The entire development is expected to cost $2.6 billion. In addition to designing the master plan, HOK is also designing two high-rise office towers for the new development.
“Our master plan provides a framework for developing a sustainable financial center in a way that blends human need, environmental stewardship and economic viability into a new global model of urbanism rooted in Turkish culture,” said HOK President Bill Hellmuth in a statement.
Istanbul’s new International Financial Center will feature a new subway line and station, and the master plan also calls for new infrastructure for sustainable power, water, data and security. The new buildings will feature green roofs, and the development will also feature a new urban park. Construction has already started on the site, and work is expected to be completed by 2016.