Find in the news:
BY COUNTRY

Turkish billionaire sells the largest mall in Istanbul to Qatar for $1 billion



Qatar’s sovereign wealth fund has reached an agreement to purchase the shopping and entertainment center, İstinye Park.
İstinye Park, Istanbul

A major deal is being prepared in the Turkish retail real estate market. Qatar’s wealth fund has reached an agreement to purchase İstinye Park Shopping and Entertainment Center, one of the largest malls in Istanbul, Turkey. The total area of the complex, developed in 2007, is about 1 million square meters. 

The deal worth $1 billion will be announced in the coming days. The seller of the shopping complex is a 56-year-old Turkish billionaire Ferit Sahenk. 

Earlier it became known that controlling conglomerate Doguş Holding Sahenk faced severe financial problems after the currency crisis in 2018. The billionaire agreed to restructure foreign currency debts by billions of dollars before the national currency collapse. 

In addition to the shopping center Eastinye Park, Ferit Sahenk put on sale several expensive hotels. Earlier Sahenk found buyers for his yacht marinas in Turkey, Greece, UAE, and Croatia. The sale of the Turkish lira in 2020 forced the central bank to raise interest rates on loans from 10 to 15%, which led to increased risks for various business sectors in Turkey. 

Photo credit: depositphotos.com.

Related shopping malls and stores:

More about shopping malls in Turkey



YESTERDAY, Turkey:
Apple Store employees advise customers to wait for new price increases, after which sales of equipment will resume in full.
DAY BEFORE YESTERDAY, USA:
The parade will feature both iconic figures from years past and six brand new balloons.
DAY BEFORE YESTERDAY, USA:
Gap posted a net loss of $152 million for the third fiscal quarter of 2021.
DAY BEFORE YESTERDAY, USA:
Pharmacy chains Walmart, CVS and Walgreens, engaged in the uncontrolled distribution of opioid analgesics in gigantic amounts.
Nov 24, 2021, Germany:
The first Adidas Terrex flagship in Europe preaches sustainability by focusing on outdoor clothing and footwear.
Nov 24, 2021, India:
Health, sports, and sustainable development will play a vital role in the project's conception.
Friend
and Follow
I Viali GLA:452 084 SF
ADDRESS: Via Dei Cacciatori 111 - 10042 Nichelino TO - Piemonte
Italy . Torino
I Viali
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us