Galataport Istanbul is a joint venture company of two leading Turkish conglomerates, Dogus Group and Bilgili Holding. On May 16, 2013, Doğuş Group placed the highest offer for the privatization of the Istanbul Salıpazarı Cruise Port, with a $702 million bid, winning the right to operate the port area for 30 years. In January 2014, BLG Capital, the real estate private equity arm of Bilgili Holding, acquired 19% of the shares in the company formed to develop the project leaving the remaining 81% with Doğuş Group. Following the privatization of the Port, the Company has been dedicated to enhance the port operations and to redevelop a port including new facilities for the cruise passengers, locals and tourists alike, in order to strengthen the positioning of Istanbul, as a marquee destination. The Company name has been changed to Galataport Istanbul Port Management and Investments Inc. as of February 2018.
Galataport Istanbul, located right across the historical peninsula of the city, is a major waterfront project, with a 1.7 billion USD investment, hosting the main port of Istanbul, a prestigious hotel chain, cafes, restaurants, boutiques, together with two contemporary art museums within the 1.2 km promenade.
After being closed for nearly 200 years, this historic port will finally reopen its unparalleled coastline for the public to use and enjoy. With state-of-the-art facilities and hundreds of dining and shopping options on-site, Galataport will take Istanbul’s cruise tourism to new heights. The new terminal is being constructed under the ground with a special planning implemented for the first time in the world. According to this planning, the customs bonded area is sequestered from the rest of the site with a special 3-meter long over.
All terminal operations, passenger and luggage handling, and passport control activities will be located in the new terminal, which is 4 times larger than its current state, leaving the coastline free to explore. Taxi, minibus and tour bus traffic will also be routed underground to ensure a peaceful, pleasant atmosphere at ground level.
The rest of the area will be customs-free and open to the public so that the locals, tourists, crew and cruise passengers alike can enjoy the amazing view over the historical peninsula.
Each year, Galataport is expected to receive 25 million visitors, including 7 million foreign tourists and 1.5 million cruise passengers including the crew. The port can accommodate 3 cruise ships simultaneously, giving it a capacity of approximately 15,000 passengers per day.