Global design and planning firm HOK has announced that construction work has commenced on the $2.6bn Istanbul International Financial Centre (IIFC) project in Turkey.
Sprawling over a 170-acre site on the city’s Asian side, located between the Atasehir and Ümraniye districts, the IIFC will house the head offices of the country’s financial market governing bodies, state-owned and private banks, and related businesses.
The development includes approximately 4,180,000m2 of office, residential, hotel and park space, and will house four districts, focusing on culture, commerce, civic functions and governance.
The project also includes a transportation system comprising a new rail station and subway line. Utilities and communications are being sustainably integrated into a podium that will be surfaced on top by a new urban park.
The construction of the project is being undertaken by Turkish construction company Akdeniz Group, which has commenced the project with the start of excavation work at the site.
The IIFC, also supported in the Arup in the planning phase, is due to come online by the end of 2016.
via Istanbul’s $2.6bn financial centre gets underway | ConstructionWeekOnline.com.