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Turkish conglomerate Zorlu Holding has officially denied recent media claims suggesting it was planning to sell Zorlu shopping mall, one of Istanbul’s most prominent shopping centers.
Speculation had circulated in Turkish business media that the iconic mall, located within the Zorlu Center complex in central Istanbul, was being offered for sale at a record price of €1.5 billion ($1.7 billion).
Bloomberg reported on May 20 that Zorlu Holding plans to sell real estate worth €1.5 billion due to economic woes.
The rumors drew significant attention from real estate and financial circles, raising questions about the future of one of the city's most high-profile commercial assets.
However, in a statement to the Public Disclosure Platform (KAP), Zorlu Holding categorically refuted the reports.
“There is no resolution taken by our Board of Directors regarding the sale of the company’s assets as of today. The claims in question are not related to our company,” the statement read.
“Any potential asset sales, if considered necessary, will be evaluated in line with regular commercial operations on a case-by-case basis.”
Zorlu shopping mall, part of the larger Zorlu Center development, officially opened its doors in October 2013 after a seven-year development and construction process.
Located at a strategic junction between Istanbul’s Besiktas, Sisli, and Levent districts, the mixed-use complex includes a luxury shopping mall, a performing arts center, residences, offices, and a hotel, and has become a landmark destination in the city.
In an official statement, Zorlu Holding also noted that it is actively exploring partnership opportunities in the U.S. market and emphasized that any developments will be shared with the public in a transparent manner.
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