The ministry, charged with establishing an information technology valley, reportedly began work on the project following approval of the funds. The valley will stretch between İstanbul's Taksim and Maslak neighborhoods. The Housing Development Administration of Turkey (TOKİ) will reserve land for construction of the infrastructure that will support research in information and communications, telecommunications, biotechnology, nanotechnology and neurotechnology.
The planning document for the project stresses that Turkey's software and service sector lags behind hardware technology and that for this reason a concrete strategy should be devised to promote progress in the software and service sectors.

Meanwhile, 50,000 square meters of land will be set aside for the development project. Considering probable future requirements, the completed project will comprise 500,000 square meters of enclosed space. The project will be financed by public resources, revenue from the project once complete and various funds as well as loans from the World Bank.

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