The Ottoman Bazaar was also called as Sipahi (Cavalrymen) Bazaar since the equipments of cavalrymen were also sold there in the time of Ottoman Empire. The Ottoman Bazaar built by reconstructing the old Byzantine remains composes of the street hosting nearly seventy shops on both sides selling traditional carpets, rugs, souvenirs and Iznik ceremics. In the excavations held in 1930s, the discovery of mosaics belonging to Byzantine Palace proved that the area was a part of the complex of the palace. The bazaar which fell into ruin after the fire in 1912 stayed as a ruin for a long time. In 1980s, restored and presented to Istanbul with the service of the bazaar.