‘Tersane Istanbul’ nears completion

ISTANBUL

The "Tersane Istanbul" project, aimed at revitalizing the historic Golden Horn Shipyard — a 1.8-kilometer stretch of coastline that has been closed to the public for nearly 150 years — is approaching its final stages and is set to transform the shipping dock into a major tourism destination.

The initiative is set to revive the area into a vibrant cultural and artistic hub, according to Transport and Infrastructure Minister Abdulkadir Uraloğlu.

“Tershane Istanbul will be will be a popular center of culture and art activities for Istanbulites in all four seasons,” Uraloğlu stated during an inspection of the project site, which includes the restoration of 26 registered historical buildings.

He emphasized that the project's goal is to blend the region’s historical texture with modern architecture, creating a new attraction for both locals and tourists.

“It will also create employment opportunities for thousands and host millions of visitors,” he added.

The project, which has already reached 69 percent completion, is being constructed in four phases. Uraloğlu revealed that the first phase is expected to open by the end of this year.

“We have realized a huge investment of approximately $889 million without using public resources,” he noted.

“This project will bring a total of $1.346 billion in rental income to the treasury over the 45-year operation period.”

The coastline will include walking and cycling trails, cafes, social activity areas and a library. Additionally, the project will include two marinas, each capable of accommodating 70 yachts and water sports facilities.

“We are creating experience-oriented activity areas for young people and students, as well as accommodation areas that will support the tourism of the historical peninsula,” he said.

The minister highlighted the historical significance of the shipyard, originally known as Tersane-i Amire, which dates back to 1455.

“This was one of the largest shipyards in the Mediterranean during the 16th and 17th centuries,” he noted.

The shipyard was used for military and civilian shipbuilding during the Republican period, but in the last 30 years, it has lost its function as a shipyard.