Presidential decree revives cancelled billion-dollar Istanbul skyscraper project

A billion-dollar skyscraper project of the Hattat Holding which had been blocked by both Istanbul Metropolitan Municipality and an Istanbul court in 2009, is set to resume after being approved by a presidential decree issued on Nov. 19, Cumhuriyet reported on Friday. 

The “Diamond of Istanbul”, which will be the tallest skyscraper in the country, has been a controversial project since its launch in 2003. 

The project was first blocked by the municipality on the grounds that it had violated the construction licence, and was accused of ruining the iconic panorama of Istanbul. Courts in Istanbul stopped the execution of the project because of breaching the law.

Mehmet Hattat, chairman of the Hattat Holding said in 2016 that his conglomerate had donated eighteen plots to the municipality to have an approval for the project that had earlier been suspended, Cumhuriyet reported. 

Enjoying close relationships with the Turkish government, the Hattat Holding is known for its power plants and coal investment projects in Turkey’s Black Sea Region.