The Transformer of the Diamond District

The IGT Jewelry Shopping Mall brings boutiques with the world’s finest gems, watches and designers together in a venue of unmatched urban luxury. The 20,000 square-foot IGT Jewelry Shopping Mall, located on the first three floors of the Extell Development Co.’s new tower, includes 80 linear feet fronting West 47th Street between Fifth and Sixth Avenues.

Mehmet Gulay is the CEO of IGT Jewelry Shopping Mall, a collection of high-end jewelry boutiques whose 2014 opening is transforming New York’s Diamond District. The Turkish entrepreneur led acquisition and development of the site, comprising the entire retail section of the $750 million International Gem Tower, through City’s Property Development, a division of his family’s Istanbul-based company, Gulaylar Group. The first mall of its kind, the venture is the company’s signature U.S. real estate project, taking advantage of both expertise in property development and a history in jewelry production and sales. Gulay holds a bachelor’s degree in economics from New York University.

The Gulaylar Group, founded in 1926, is the only Turkish gold and diamond wholesaler in the U.S., where it has operated since 1998. The jewelry division, the company's largest, includes wholesale stores as well as retail chains and handles $680 million in gold and diamond imports annually. Gulaylar has also expanded into tourism, with the ultra-luxury, five-star Elegance Hotels International brand, and property development, with commercial sites such as shopping malls and logistics warehouses. Gulaylar's new jewelry shopping mall will be a key feature of the Diamond District's most prestigious address, the International Gem Tower.
Last modified onSaturday, 06 May 2017 10:07