Istanbul’s incomplete 7-star ghost hotel awaits as abandoned to fate for decade

The Caprice Gold Hotel, a seven-star project launched in 2010 in Istanbul and left incomplete for over a decade, recently resurfaced in public discourse after images of its interior circulated on social media.

The once-ambitious project, now in ruins, sparked debates among social media users in Türkiye. Reports indicate that influencers and other individuals have illegally entered the building, exposing its deteriorated state.

The hotel is linked to former businessman and convicted fraudster Fadil Akgunduz, widely known as “Jet Fadil.” The project, located in Bayrampasa district, was abandoned in 2014 despite its promising start.

The massive structure spans 150,000 square meters (1,614,586.6 square feet) of enclosed space on a 30,000-square-meter plot and includes 27 floors, 14 royal suites and four lobbies. In November, a bankruptcy court listed the property for sale with an asking price of $350 million.

Fraud and legal proceedings of Istanbul’s ghost hotel

In December 2015, Akgunduz was arrested on charges of fraud, and a court ruling in April 2023 sentenced him to 2,504 years in prison and a fine of ₺12.02 million ($339,738.05) for defrauding 614 individuals through fraudulent timeshare sales.

The case implicated 10 defendants, including Akgunduz and his relatives.

The failed project affected 28,130 victims, with total funds raised reportedly exceeding ₺2 billion. In response, victims formed the Caprice Gold Victims Association to seek justice, and their legal battle has continued since 2013.

Once envisioned as a landmark of luxury, the Caprice Gold Hotel now stands as a stark reminder of failed promises and financial mismanagement, its grand aspirations reduced to an eerie monument of abandonment.

With its fate still uncertain, the incomplete building looms statuesquely over the Bayrampasa district, a ghostly silhouette against Istanbul’s vibrant skyline.