Istiklal Avenue is still one of the most important avenues for shopping in Istanbul. Beyoglu (formerly Pera), which made a great breakthrough in the 19th century, the last century of the Ottoman Empire, was in a position to compete with the European cities of the period.
The embassy buildings, banks, and hotels opened in Istanbul, the capital of the Ottoman Empire, drew all the attention to this region. The wealthy non-Muslim citizens of the city competed with each other to build beautiful buildings in this area. Beyoglu still bears the traces of those days. The passages of Istiklal Avenue were likewise built in the second half of the 19th century. With the relocation of the Ottoman Sultan Sultan Abdulmecid to Dolmabahce Palace, the liveliness of life in Beyoglu began to overshadow the Historic Peninsula.