RAFFLES to open luxury hotelin Istanbul

Raffles Hotels & Resorts announced this week the opening of a luxury hotel in Istanbul’s Zorlu Center, a residential, retail and office complex which is currently under construction.

The investment in the future 180 room luxury Raffles Istanbul is estimated at USD 175 million and the developer is Zorlu Holding AS. The Zorlu Center project in Istanbul’s business district will cost a total of $2.5 billion, Zorlu said. Zorlu Holding started to build a USD 500 million office project in Istanbul’s Levent district and the company also plans to start a shopping mall project in the city of Izmir next year.