Istanbul Teknopark among World’s Biggest Tech Hubs

Teknopark Istanbul, a defense and related-industry research and development hub, will be among the biggest techno parks in the world.

Turkey’s assertive technology park will generate nearly $10 billion for Turkey’s economy annually after its completion in eight to 10 years. The site will offer its local and foreign residents tax advantages.

Teknopark Istanbul will operate a 750,000-square meter indoor space at Sabiha Gokçen Airport, east of Istanbul, accommodating more than 30,000 personnel and targeting $10 billion in defense and non-defense business annually, to become one of Europe’s largest technology parks, similar to Silicon Valley.

Its major shareholders are the Undersecretariat for Defense Industries (SSM), with a 45 percent stake, and the Istanbul Chamber of Commerce (İTO), with a 40 percent stake. Construction work began late last year, when Science, Industry and Technology Minister Nihat Ergün and SSM chief Murad Bayar laid its foundation.

The center’s first six blocks, with an indoor space of 61,000 square meters will be opened by Prime Minister Recep Tayyip Erdoğan in December or January, said the center’s officials. This will formally launch the technopark’s opening, which will expand into 950,000 square meters of indoor space.

An international five-star hotel will also be included within Istanbul Teknopark’s boundaries.

Source: Hürriyet Daily News

Author: istanbul

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