FROM KARAKOY-SALI PAZARI PIER TO GALATAPORT: A RENT BASED URBAN TRANSFORMATION CASE

Keywords: Port Redevelopment, Urban Transformation, Istanbul, Karaköy-Salı Pazarı, Galataport.
Abstract Type: Virtual Paper Abstract

Abstract

In the spatial transformation of world metropolises, rent-based urban transformation policies imposed by neoliberal policies have been effective since the mid-1990s. A large land rent base has been created with the help of large-scale real-estate and urban development projects that aim to attract global capital flows to the city by the inclusion of local and central government units acting as entrepreneurial actors. The transformation of coastal areas involves an example of the concentration of capital in urban space for such projects, and port areas have become attractive redevelopment areas.

Located at the Istanbul Karaköy-Salı Pazarı pier area, the Galataport project, a new stage has been reached in the urban transformation process in October 2021. Galataport and its surroundings have become a prime example of revitalization and urban transformation in Istanbul. In this paper, the effects of the Galataport project and transformations that took place in and around the pier area in the context of spatial change and urban policy are evaluated over the developments between 2000-2022. Within the scope of the paper, the transformation process of Karaköy-Salı Pazarı pier to Galataport, urban transformation policy practices is revealed by a thorough literature review.

In conclusion, the paper reveals that Galataport has emerged as a project that has various problems and aims to create a rent-based and capital-oriented urban attraction area on a global scale. It lacks a social dimension, has not developed any planning strategy to balance the gentrification effect it creates, and puts the interests of entrepreneurs first.