Skip to content

The Stock Exchange Moves to Asian Side. What Happens to the Building?

December 9, 2010

Erdogan gave a speech today in which he outlined a plan to move the Istanbul Stock Exchange to the Asian-side suburb of Ateşehir, in order to create some sort of Banking Center Suburb…a State-run Maslak of sorts, I suppose. It’s all a bit rudimentary at this point.

It’s all a well and good idea. No nefariousness, no underhandedness is being projected or claimed here. But what’s going to happen to the fantastic Stock Exchange Building in Istinye?

Speaking of Nefarious…

I mean, sure, Istinye isn’t the most logistically sane neighborhood for such a huge building, but at least it was on a pretty spot of land, and the building was, well, at least different. I suppose one could make the statement that this is a “move away from the United States, whose embassy is nearby” but that really doesn’t make sense. So ignore it if you do see it.

I wrote about the Istanbul Stock Exchange briefly about a month ago under the narrative of talking about post-Ottoman architecture in Istanbul. There was also some talk of some black-hat subversion in the Stock Exchange that apparently came to nothing. But now, if the exchange itself is moved, I’m wondering what happens to the building? And what the new building would look like?

Hopefully, some large international firm that wants to be all “Oooh! Bosphorus!” is going to move into the old building. And hopefully the new building will be part of an actual, well-planned, office park complex. None of the boom-town disasterhood of Maslak. That said, my guess is that the old building isn’t sold for near a decade as everyone realizes that its out of the way, and I would bet on Ataşehir following the trend of mediocre-at-best city planning.

It’s also safe to assume that as of yesterday, somebody bought up all the land in Ateşehir ready to sell it at a huge profit. And it’s safe to assume that whoever it is will have aspersions cast onto his entrepeneurship.

So you business-minded folk can see this being a tiny little skip-step in the direction of a more centralized, less bureaucratic, banking system (I suppose). And you architecture nerds can mourn the loss of one of the finest examples of cocaine-addled, kleptocratic, architecture in Istanbul.

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: