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



DAY BEFORE YESTERDAY, USA:
Simon Property Group has reported 80% revenue growth compared to June 2020.
DAY BEFORE YESTERDAY, USA:
The introduction of a tax would address several issues related to the growing consumption of animal meat.
Jul 29, 2021, USA:
Tesla stores are leaving mallsThe electric car maker is taking another blow to the position of malls that are losing tenants one-by-one.
Jul 29, 2021, Estonia:
The initial value of the 55,000 sq.m. complex is €85 million.
Jul 28, 2021, United Kingdom:
Two years after Philip Morris announced its plans to expand the British chain, it has become known of its intention to close it completely.
Jul 28, 2021:
Those who have not been vaccinated will not access public spaces, such as government offices, restaurants, and shopping malls.
Friend
and Follow
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Mall of Tripla GLA:914 932 SF
ADDRESS: Veturitie 13
Finland . Helsinki
Mall of Tripla
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center
Cabot Circus GLA:990 280 SF
ADDRESS: Glass House, Bristol BS1 3BX
United Kingdom . Bristol
Cabot Circus


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