Kiler Holding puts Turkey’s tallest building on sale

Kiler Real Estate Investment Company (GYO) has signed an assignment agreement for the duration of one year with The First Investor (TFI), an investment bank authorized to sell properties of the Sapphire Shopping Mall, Sapphire Observation Terrace and Sapphire Residence, located in Istanbul's 261-meter-high Sapphire Building, Turkey's tallest.

Kiler GYO made the announcement regarding the wholesale of its properties at Sapphire Building to the Public Disclosure Platform (KAP) through TFI.

Inaugurated in 2011, the Sapphire has 64 floors in total, with 54 above and 10 below the ground. Located in one of Istanbul's most prominent office areas, the skyscraper includes a 35,000 square-meter wide shopping mall.

When opened, the Sapphire was the eighth tallest building in Europe. Following the inauguration of major projects like the Shard in London and skyscrapers in the International Business Center in Moscow, the building now ranks 14th in all of Europe, while being the fourth tallest in Continental Europe when Russia is excluded.