Historical monuments, rich culture and countless cafés

Istanbul

Istanbul offers international business excellent connectivity to both Europe and Asia

Renowned for its historical monuments, rich culture, countless cafés as well as wide-ranging entertainment and shopping hubs, including one of the world’s biggest and oldest covered bazaars – The Grand Bazaar, Istanbul’s bustling and cosmopolitan city attracts people from all over the world.

Foreign businesses are drawn to Istanbul’s stable business environment and its exceptional location; straddling the Bosphorous Strait, it’s the only city in the world that is in Europe and Asia. Connected via three international airports, three suspension bridges, high speed railway networks and a highway tunnel, the region offers organisations easy access to Europe, Central Asia, the Middle East and Russia.

With its vast talent pool, competitive corporate tax rate and relatively low cost of living, Istanbul’s business ecosystem has swiftly developed in recent years with many coworking spaces, accelerators, investors and venture capital firms now established in the city. Furthermore, the region has become an internationally recognised hub for organisations within the financial services, creative industries, ICT, life sciences and logistics sectors.

Studio Alliance members have undertaken projects in Istanbul for:

Istanbul Fast Facts

Average Letting Cost

€289 sq m

Istanbul West ( 12 months )

Total lettings in 2019

280,000

Square metres

Vacancy Rate

23.2%

Bosphorus coastline

Supporting Turkey’s vision to be a global production and technology base, MESS Technology Centre, a large-scale regional hub for innovative research has recently opened in Istanbul. The complex will oversee the transformation of the country’s digital infrastructure, and along with Istanbul’s established Technological Development Zones - commonly known as Technoparks – MESS Technology Centre will help bring businesses up to date with using smart technology and automation of traditional manufacturing and industrial processes.

Galata Tower

Istanbul’s commercial office landscape is set to expand in the coming years with over 580,000 square metres of office space due to be constructed in the next three years, with over half of this development located in the Kozyatağı region.

Significant Lettings

Assembly

14,750 sq m

Quasar

Significant Investment

Istanbul Tower

€594m