Turkish billionaire businessman Ferit Sahenk has reportedly initiated talks with Qatar Investment Authority (QIA) on the potential sale of a cruise port and shopping mall project in Istanbul, Bloomberg reported.
The businessman plans to use any proceeds from a potential sale to repay that debt, the news agency reported, citing informed sources.
Galataport was financed partly with a $1.1 billion loan, the report said, adding that talks are at an early stage and a deal may not eventually materialise.
The $1.7 billion cruise port project, developed under a 30-year government contract, faced delays before opening in 2021, Bloomberg said.
(Editing by Seban Scaria firstname.lastname@example.org )