Fairmont Hotels & Resorts today announced a new development in Istanbul, Turkey, scheduled to open in 2016. The 210-room hotel will be joined by branded residences and is part of the Quasar Istanbul complex, a new mixed-use development in the Sisli district, a vibrant neighborhood blending commercial, residential and retail yet situated close to major attractions in the city. The project is being developed through a joint venture between Viatrans - Meydanbey. Viatrans is a Geneva-based company specializing in shipping logistics and insurance as well as commercial real estate. The Quasar Istanbul complex is in the central business district whose showpiece is the former Mecidiyekoy Liqueur and Cognac Factory. Built in the 1930's on then undeveloped land, the factory was designed by Robert Mallet-Stevens, who with Le Corbusier was among the most influential modern French architects of that era. Two 41-story towers will sit above a 4-story office podium with fitness facilities and luxury retail stores. The towers will house a Fairmont Hotel and Fairmont Residences as well as Quasar Residences and offices which will be managed by Fairmont. The hotel will feature Fairmont Gold, the brand's hotel within a hotel lifestyle offering, a number of lounges and several restaurants, 2,000 square meters of function space, and a Willow Stream Spa. The two residences are whole-ownership, private homes and will offer studios, 1 and 2-bedroom apartments and 3-bedroom duplexes. While in residence, owners will have access to a private lounge and a number of services and amenities such as 24-hour concierge, wine cellar, preferred pricing for various hotel offerings including dining, spa and fitness, meeting facilities, hotel guestrooms and more. Owners will also be awarded VIP status and privileges when they travel to any Fairmont hotels or resorts worldwide. The former distillery, located adjacent to the hotel will undergo a thoughtful restoration echoing the Modern style of its French designer to become a culture, fashion and arts center for special events and exhibits. A verdant urban open space is also planned for the development of a city park and recreation area. "Istanbul is an exciting, dynamic city that will appeal to our business and leisure guests," said Jennifer Fox, President, Fairmont Hotels & Resorts. "As well as complementing our other developments in the region, it is very exciting to be partnering with Viatrans on this amazing project blending hotel, residential and community space." Turkey's largest city straddles the Bosphorus one of the world's busiest waterways, and is the country's economic, cultural, and historical heart. Istanbul served as the capital of three distinct empires, including Roman, Byzantine and Ottoman, and is located at the edge of Europe and Asia, with one-third of its population living in Asia and its commercial and historical center in Europe. Today it is a thriving tourist and business destination rich with history and natural beauty, home to 13.5 million people in the second-largest metropolitan area in Europe. Fairmont Quasar, Istanbul is the most recent project to be announced by the brand in the region and joins Fairmont Kyiv, Ukraine; Fairmont Baku, Azerbaijan (2013) and Fairmont Pekin, Moscow (2016).