Mustafa Demir, the mayor of Istanbul's Fatih district, said the municipality has agreed with the municipal council on the urban transformation of the "Tarihi Yarımada" (Historical Peninsula), which features many tourist attractions such as the Sultanahmet Square, Sultanahmet Mosque (Blue Mosque) and the Hagia Sophia. Significant progress has been achieved in the comprehensive urban transformation project prepared by the municipality.

The project was disclosed to investors during the Uludağ Economy Summit held in Bursa on March 13 and 14. Demir said the project attracted a great deal of attention, and the new buildings will be built without harming the peninsula's unique cultural patterns. Some historical and registered buildings will be altered into hotels by preserving their architectural style. Demir said any change to exterior architecture can only be made after receiving the municipality's consent. "The face of Istanbul has started to change in Fatih. The exterior side of buildings in Sirkeci Square, its surrounding area, Ankara Avenue and the main arterial road extending from Aksaray to Sultanahmet Square has already changed," he said.

Each building has been changed within individual transformation projects. "What we are doing here is not merely changing a building's face, but encouraging urban transformation," Demir added. Urban transformation offices have been established in related regions to conduct the projects effectively.