Turkey: Istanbul, plan approved for Galataport privatization 2012-10-31

Turkey: Istanbul, plan approved for Galataport privatization

Turkey's High Privatization Board (OYK) has approved the public works plan for the Galataport project, or the Salipazari Cruise Port, in Istanbul.The approval was announced in the Official Gazette as daily Hurriyet reports, and is seen as a very significant step in the eventual privatization of Galataport. The area in question includes a cruise port, a recreation area, and a social-cultural facility. Following the approval, the plan has been sent to the Istanbul Municipality and Beyoglu Municipality Headquarters.

Galataport is located in the Beyoglu district of Istanbul. In June 2012 the chief of the Privatization Government (OIB) Ahmet Aksu had said that the privatization of Galataport, Derince port, Tekirdag port and Izmir port would take place this year. Speaking to Anatolia news agency at the time, Aksu as well said Galataport would become an significant area in both Turkey and Europe in terms of drawing visitors. The Galataport project includes the construction and 49-year operation of hotels, shopping malls, cinemas and entertainment centers in the Karakoy-Salipazari quarter.