Over $10 bln to be invested in central Istanbul district Beyoğlu over next three years: Mayor

ISTANBUL

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Investments worth around $10 billion are expected to be made in the central Istanbul district of Beyoğlu over the next three years, Beyoğlu Mayor Ahmet Misbah Demircan stated on March 1. 

“Many top urban transformation projects are being carried out in Beyoğlu. These projects, such as the Galataport and Tarlabaşı projects, have attracted foreign investors. Despite recent negative developments, we expect investments worth $10 billion to be made in our district in the coming three years,” Demircan said in a meeting with investors, according to a follow-up press release. 

He noted that a total of 47 major projects underway in the district will be presented in the coming days at MIPIM, a key construction event in the French city Cannes. 

Demircan also added that some 40,000 new beds and 11,000 new enterprises were created in Beyoğlu over the past decade.