The place, where Grand Bazaar is located, was in the position of trade center in Byzantine period. Mehmed The Conqueror get Covered Bazaar and Sandal Bazaar constructed between 1455-1461 in order to enrich the economic life in the city, which he makes capital city after conquest of Istanbul. Then, Grand Bazaar is constituted with shops and hostelries, which are constructed around these bazaars. There are 24 hostelries, 440 shops and 65 streets within the bazaar. Furthermore, bazaar has 18 gates, of which 8 gates are big and 10 gates are small. Bazaar has witnessed many fıres and earthquakes and undergone many repairs up to now.