"Global interest in infrastructure investments is growing rapidly, driven by not only investor demand, but also the increasing need for governments to find alternative sources to fund new infrastructure projects and repair existing infrastructure. Infrastructure has evolved as one of the attractive alternative asset classes for institutional investors, searching for higher-yielding and stable investments. An increasing number of vehicles such as, direct investments, unlisted infrastructure funds, listed infrastructure funds, and unlisted infrastructure securities funds, focussing on assets such as toll roads, pipelines and utility assets, respond to institutional demand, such as Australian listed property trusts (LPTs). Budgetary pressures on governments worldwide are forcing them to explore alternatives to traditional public sector provision of assets and services. Infrastructure investments typically consist of partnerships between the public and private sectors, Public/Private Partnerships (PPPs) or Private Finance Initiatives (PFIs). Recent arguments that infrastructure REITs may be an effective tool to fund infrastructure needs or REIT structure may address some of the concerns and opposition related to privatization. The first J-REIT focused on acquiring and operating both industrial and infrastructure properties (IIF), was established on March 26, 2007 in Japan. In the U.S., Internal Revenue Services affirmed the electric transmission and distribution company's wires and pipes qualified for inclusion in a REIT in June 2007. It could lead the way for other typed of infrastructure assets to be classified as REIT. On 29 January 2009, the Capital Markets Board (CMB) published the CommuniquÈ Regarding Infrastructure Real Estate Investment Company (""""IREIC"""") in Turkey. The CommuniquÈ articulates the requirements for establishing an IREIC and provides extensive rules regulating operation of the IREIC. This paper is aimed to investigate legal framework of Turkish IREIC and background of this structure based on the arguments and similar experiences in the world. Although no IREIC has been established yet, this framework can be considering as an embryonic stage for infrastructure REITs in Turkey."