Completing the main contractor tendering process for the construction of two office towers, podium buildings and a parking lot within the framework of the Istanbul International Financial Center project, integral to making Turkey's economy one of the world's 10 largest, Halk GYO concluded an agreement with YDA Construction, which had the lowest bid (TL 751.5 million, $200 million), Bloomberg reported.According to a statement released by Halk GYO to the Public Disclosure Platform, the company completed the main contractor tendering process for the construction of two 46 and 34-storey office towers, eight-story podium buildings and an additional parking lot as part of the Istanbul International Financial Center project. Later, in accordance with a decision by the Executive Board, the main contractor service agreement was signed with YDA Construction, which had the lowest bid (TL 751.5 million excluding VAT), according to the Turnkey Delivery method.Istanbul International Finance CenterThe Istanbul International Financial Center (IIFC) project, which started in 2009 and is currently being developed in Istanbul's Ataşehir district, is planned as one of the world's major financial centers. This landmark government project aims to build a larger financial center than the existing ones in New York, London and Dubai and make Istanbul the center of finance internationally and create a center that will be the heart of the world financial sector and serve 24/7 as a living building. With the completion of the project, some 30,000 people will be employed. Constructed on an area of 2.5 million square meters, the IIFC will have 560,000 square meters of office space, 90,000 square meters of shopping mall, 70,000 square meters of hotel, 60,000 square meters of residential space and a culture and congress center with a capacity of 2,000.IIFC will contribute to the foundation of a financial sector, integrate with global markets, and collect funds and allocate them effectively and be able to export financial services on an international scale. Accordingly, for Istanbul to become a globally competitive international financial center, the aim is to establish an effectively audited and transparent market that can cater to the needs of the real economy and have a strong physical, technological and human infrastructure in which all kinds of financial instruments can be issued. Once the project is finalized, Istanbul will rank among the top 25 global financial centers, placing Turkey among the top 30 countries in terms of financial development. The share of financial services in the GDP is estimated to increase to 6 percent at the end of the project.