A seven-star tourist hotel will soon be built in the Beşiktaş district of İstanbul on the shores of the Bosporus on the site of an old tobacco warehouse, a property owned by Tanrıverdi Holding.
A partnership agreement between Tanrıverdi and Hong-Kong based Shangri-La Asia, Ltd., to build the Shangri-La İstanbul Otel was signed in İstanbul on Saturday. The hotel is scheduled to start accepting guests in April 2012.