The decision to cancel the tender was approved by Finance Minister Kemal Unakıtan. The Privatisation Administration will begin planning immediately for new public improvements to the project, and will in turn hold the new tendering process accordingly. The procedures, which have been stalled for some months, will now recommence under the supervision of the Privatisation Administration.
The decision to halt construction by the 6th Office of the Council of State was due to the Ministry of Tourism not being authorized to make changes in construction plans for the cruise yacht marina in the Salipazari area of Istanbul. The process involving Galataport, for which the Royal Caribbean Joint Venture Group offered a 3.5€ billion tender for 49 years, and which was launched by Israeli businessman Sami Ofer and Director of Global Holding, Menmet Kutman, will now be in the hands of the Privatisation Administration.