Istanbul
Istanbul is the largest city in Turkey, and the country’s economic and cultural hub. It has one of the fastest growing economies in the world, with a strong industrial sector, manufacturing a wide range of products including textiles, leather, chemicals, electronics, oil products, machinery, glass, olive oil and alcoholic drinks. Tourism is also an important sector – Istanbul is one of the most-visited cities in the world. A number of important Turkish banks and financial companies, as well as the offices of global financial firms are located in the city. Istanbul is also a maritime hub, making it a great location for companies involved in import/export, as it operates a thriving container port connected to the railway network.
The location
Istanbul is a transcontinental city, straddling both Europe and Asia, with the Bosporus Strait separating the two parts. Around two thirds of the population reside in the European section, and one third in the Asian portion. The city is located in the north west of Turkey, and consists of 39 local districts.
Neighbouring areas - price comparisons, per person per month
Below are the prices of serviced offices given on a per person per month basis in the city, and are based on a minimum to maximum average, derived from our Sales Team's knowledge.
Area - Indicative price range
Istanbul: TRY 1250 – 2000
Levent (financial center): TRY 1800 – 2000
Maslak: TRY 1250 – 1750
Looking for an office in Istanbul
Istanbul is one of the office markets with the biggest growth in the EMEA region, with plenty of local and international providers. According to Instant Office's local consultant, Florian Kappes, while Levent is the place to be for business, there are plenty of more cost-effective options, such as the accessible Maslak, or business hubs on the Asian side of the city.
In terms of future developments, the construction of the Istanbul International Financial Centre will boost the city’s chances of becoming one of the top 20 financial centres in the world, and will attract further investment and multinational corporations. The centre will house the head offices of the country’s financial market governing bodies, state-owned and private banks, and related businesses. The development will be situated between the Ataşehir and Ümraniye districts.
Costs
Prices for serviced offices range from TRY1000 – 2000 per person, per month. However, these prices will vary according to location and requirements. Costs are inclusive of amenities, which can cover Internet, meeting rooms, IT and administrative support, lounges and kitchens, car parking, videoconferencing and AV equipment, among others.
Office sizes
While serviced offices appear to be the most popular option in Istanbul, there are also a variety of coworking spaces available.
Instant offer a great variety of flexible office solutions across a range of sizes, and are able to accommodate most enquiries, from one person through to 100 or more, depending on the specifics. Serviced office providers can be flexible with the layout of the workspace and terms of your agreement.
Why choose Istanbul?
Istanbul is situated in a unique location between two continents — the gateway to both Europe and Asia. It also boasts a strong and fast growing economy - according to the McKinsey Global Institute, Istanbul will have the 14th highest absolute GDP growth among world cities by 2025. As well as its economic credentials, Istanbul is a cultural hub with a rich history — an ideal location in which to live and work.
Four things you probably didn’t know about Istanbul:
1. It is the only city in the world located on two continents, Europe and Asia
2. The third oldest subway in the world is in the city, built in 1875
3. Roman Emperor Constantine built the city on seven hills as had been done in Rome
4. It was the capital of the Roman, Byzantine and Ottoman empires
A closer look at Istanbul
Maslak:
Maslak is one of Istanbul’s main business districts, dominated by companies from the finance, insurance and banking sectors. The area offers a prime business address in a strategic location. Maslak is situated next to a highway for easy access to Ataturk International Airport, and is served by two metro stations, trams and buses. Maslak is home to a campus of the Istanbul Technical University, as well as head offices of Ing Bank, Vodafone, Odeabank, Ericsson, MTU Turkey and Zurich Insurance. The tallest building in the area is the 47-storey Spine Tower, while the Diamond of Istanbul, currently under construction, is set to be the tallest skyscraper in the country, and the first tower made from steel in Turkey. There are a number of hotels, restaurants, bars, shopping centres and leisure facilities in the area.
Levent:
Levent is another prime district in Istanbul, populated by a number of skyscrapers, with many more developments coming. It's home to what is currently the country’s tallest skyscraper, the 54-storey Istanbul Sapphire. The headquarters of many Turkish banks, investment companies and the local bases of multinational corporations are based here, including Garanti Bank, Turkey's second largest private bank; Yapı Kredi, one of the first nationwide private banks in Turkey; Microsoft, a regional chamber of the U.S. Chamber of Commerce, and Google. Levent is easily accessible via a number of options, including the 01 highway, Levent metro station, express buses and taxis.
Kadikoy:
Kadikoy is situated on the Anatolian side of Turkey, and is a significant and growing business hub in Istanbul, close to many excellent local amenities. The area is served by the 02 and D-100 highways, as well as subway stations, trains, trams, buses and minibuses. There is also a ferry port and two sea ports a short distance away. Business neighbours include companies in sectors ranging from technology solutions to real estate. Kadikoy is a bustling commercial hub, with popular markets and numerous shopping malls.
Want to find out more?
If you’re looking to move into the area, or simply require more information, contact Instant Offices' specialist local consultants.
Email our team or call us and we'll be delighted to help you.