Turkey’s Doğuş Group to sell stake in Istanbul shopping mall for $1bn

Turkey's Doğuş Group to sell stake in Istanbul shopping mall for $1bn

Turkey-based The Doğuş Group is selling its 42 percent stake in IstinyePark, one of the biggest shopping malls in Istanbul, Turkey for around $1 billion to Doha-based Qatar Holding LLC, according to dunya.com report.

IstinyePark was completed in 2007. With 87,000 square meters of store area, IstinyePark is home to approximately 300 stores and has 3,200 car park capacity.

Qatar Holding LLC is wholly owned by the Qatar Investment Authority (QIA), one of the largest funds in the world.

The Doğuş Group was established in 1951. The group, through its subsidiaries, is active in financial services, automotive, construction, media, hospitality & retail, real estate, energy and entertainment businesses.