The Galataport project, which starts from the Karakoy Pier until Findikli, covers a 112,147 square meter area on the 1.2 km long coastline. The silhouette of the Bosphorus will be changed when project is completed.
Critiques about the project that the coast will become a total commercialization and being closed for the public in Istanbul are still continuing.When the project will be completed, the silhouette of the Bosphorus will also be changed. Despite all the critiques,the first digging started on the past February.
A rapid change in Karakoy is happening nowadays which is one of the favourite historical regions of Istanbul. The coffee shops, trading businesses and art places which were opened in the alley’s of the neighbourhood in recent years,changed completely the aspect of this region while a transformation is happening on the coastline.
The Galataport project is in this time rapidly put into practice which was in the previous 14 years a lot of times on the agenda and been critisized and even cancelled a few times by the judgment. Since February, there were a lot of buildings demolished and new ones builded.
The Galataport project was first time announced on March 2002 to the public opinion and had many transformations also included its name the past 14 years. The project went 2 times out to tender and at the end it belonged to Dogus Group Company on 16th of September 2013. After this Dogus Group Company took businessman Serdar Bilgili as a partner.In the firm has Dogus Group a 81 percent and Serdar Bilgili a 19 percent share. After the bid,the project was exposed to critiques because it can cause a damage for the environmental structures and the historical tissue. The Galataport project is again on the agenda because of the critiques.