Divan Hotels adds a new link to its chain of city hotels, as Divan Istanbul Asia, the third hotel of the company in Istanbul, opened Monday evening with a ceremony.

The hotel, built with an investment of $120 million by the Şahsuvaroğlu Group, is the biggest hotel on the Asian side of Istanbul. The location is convenient for the headquarters of many companies and is also close to organized industrial zones.

Monday evening’s ceremony was attended by Semahat Arsel, chairwoman of Palmira Turizm and member of the board of Koç Holding; Ömer Bozer, food and retail group chief of Koç Holding; Ali Y. Koç, institutional communication and information group chief at Koç Holding; Ali Şahsuvaroğlu, chairman of the board at the Şahsuvaroğlu Group; Murat Şahsuvaroğlu, managing director of the group; and Joep Bakx, managing director of Divan, as well as other executives and government officials.

Şahsuvaroğlu, a group that has grown in the automotive industry, has partnered with Koç Holding for the hotel.

The hotel is situated in Pendik, a rapidly growing district in Istanbul, and is in close proximity to Istanbul Park, where Formula 1 Istanbul Grand Prix races are held. Divan Istanbul Asia is also very close to the Sabiha Gökçen International Airport.