The commercial real estate production in Istanbul in the globalization process

Abstract

Istanbul, as Turkey’s most developed city and primary gateway to the global economy, plays a central role in imports and exports and is increasingly integrated into global city networks. Its rapid population growth and economic liberalisation since the 1980s have fuelled demand for commercial real estate, particularly in service and industrial sectors. Drawing on world city theories by Friedmann, Sassen, and Castells, the study analyses Istanbul’s trajectory towards becoming a global city, using construction statistics from 2002–2010 across sectors such as hotels, offices, wholesale and retail, traffic and communication, industry and storage, and public services. Comparisons with Ankara and Izmir highlight Istanbul’s dominance in attracting foreign capital and global functions, though challenges remain in infrastructure, social inequality, and integration into the broader global network. The findings suggest Istanbul is still at an early stage of the globalization process but demonstrates clear characteristics of a world city, with commercial real estate production aligning with global city functions.