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Istanbul Aims to Outshine Dubai With $2.6 Billion Bank Center

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It’s now little more than a dusty patch of land in the modern suburb of Atasehir on the Asian side of Istanbul. Within three years, if all goes according to plan, high-rise office buildings will dominate the site, forming an upstart Wall Street on the Sea of Marmara: the Istanbul International Financial Center.

Like a lot of Prime Minister Recep Tayyip Erdogan’s ideas, such as his push for mostly Muslim Turkey to start formal membership talks with the European Union, the square-mile International Financial Center is bold, Bloomberg Markets magazine reports in its October issue.