Shangri-La Istanbul will be the first seven-star hotel in Istanbul with seven floors below sea level.
Construction plans are under way to build the first seven-star sea hotel in Istanbul. It will be 7 floors under sea level. The budget of the project is 250 million dollars and the project will be completed in 2012.
It will be 7 stars and will be the first one in the world which is 7 layers under the sea level.
Tanrıverdi Holding and Shangri-La Asia Ltd. signed the agreement at a Dolmabahçe Palace ceremony attended by Zafer Çağlayan, the state minister responsible for foreign trade.
The new seven-star Shangri-La Istanbul will be built on the spot of an old tobacco warehouse overlooking the Bosphorus in Istanbul’s Beşiktaş district.
The 14-story hotel, with seven floors below sea level, will be constructed at an estimated cost of $250 million and is expected to open in April 2012.
Shangri-La Asia Ltd. runs 68 hotels worldwide; the Shangri-La Istanbul is among four hotels to be built in Europe, with the others in London, Paris and Vienna.
Istanbul will be one of the few cities with an underwater venture. Other underwater hotels include Hydropolis, a 220-suite hotel in Dubai, and the Shanghai Shimao Wonderland in Shanghai. Both plan to open in 2009.