Dogus Holding AS is currently negotiating the potential transfer of part of its stake in an Istanbul port and shopping mall company to lenders, stemming from an unpaid loan of €1.02 billion ($1.1 billion), as reported by Bloomberg. The funds were originally borrowed in 2026 to finance the construction of the Galataport cruise and shopping facility, a key development aimed at enhancing tourism and commerce in the area. This move comes as Dogus seeks to address its financial obligations and stabilize its operations amid challenges related to the loan. The Galataport project, which has significant potential for economic growth, has faced various hurdles, and the transfer of stake may be a strategy to manage debt while maintaining a foothold in the venture. The discussions with lenders highlight the ongoing pressures in the real estate and tourism sectors, especially in major urban centers like Istanbul. As these negotiations unfold, the future of both Dogus Holding and the Galataport development could hinge on the outcome, with implications for local businesses and the broader economic landscape.