Earlier this month, Bloomberg Markets reported Istanbul is planning to build a $2.6 billion dollar financial center that would rival Dubai's.

According to Prime Minister Recep Tayyip Erdogan's current plans, within three years, a high-rise office building will dominate the modern suburb of Atasehir, now a dusty patch of land on the Asian side of the city.

The announcement comes in a year where the city’s stock exchange has grown 26 percent. Citigroup and HSBC already have a presence in the city, along with Japanese and Russian multinational banks.

Meanwhile, a robust banking culture is already making inroads. CEOs seek out the Billionaire Club, a showy multi-level nightclub, while junior executives head to the Suada Club, a man-made party island with an Olympic-sized swimming pool, bars and restaurants in the middle of the Bosporus Strait.