Turkey, which today is considered to be one of the most promising markets for investment in hotel real estate, once again demonstrates the faithfulness to such a reputation. Hotels in Istanbul, being one of the most popular in the country, will soon gain the flagship. It promises to be a new hotel of the Shangri-La chain, which the founders expect to comply with the "seven stars" class.
The agreement on building a new luxury hotel has been signed between the Shangri-La chain and the Turkish TanrÄ±verdi Holding company on 10 April 2010. The place for building a new hotel was chosen to be the former tobacco warehouses on the shore of the Bosphorus in Besiktas. To date, warehouses are owned by the TanrÄ±verdi company. According to preliminary plans the construction of Shangri-La Ä°stanbul Otel will take two years. As the time of the official opening the parties call April 2012. Construction of the hotel will be conducted by TanrÄ±verdi Holding, which, after completion of construction, under a leasing agreement, will give the hotel management to Shangri-La company.
The new hotel in Istanbul will be unique for several reasons, among them luxury is not the only one. So, perhaps the main feature of the Shangri-La Ä°stanbul Otel promises to be its architecture. 7 of 14 floors will be underground. The total cost of Shangri-La Ä°stanbul Otel is estimated at 250 million dollars.
It is worth noting that the project of 7-star hotel in Istanbul is not the only project in the field of luxury hotels in Turkey. For example, in May 2009 his intention to build a 7-star hotel at the Cesme resort, near Izmir, announced the Russian billionaire Mikhail Prokhorov. Also in 2009 the Turkish resort of Antalya was opened the most famous and luxurious hotel of the country the Mardan Palace. His owner, another billionaire from Russia Telman Ismailov invested in the construction of a giant hotel 1.5 billion dollars.