It was established in a wide area between Beyazıt and Nuruosmaniye Mosques. The center of the bazaar expands to Cevahir Bedesten and Sandal Bedesten built in Sultan Mehmet the Conqueror (1451-1481) period. These bedestens (market where antiques, objects, jewelry, etc. are sold) are covered with numerous domes. Markets developed around bedesten created the Grand Bazaar after they are covered with vault in course of time.
61 streets belonging to the bazaar has a complex scheme as a labyrinth. The reason of this is the fires and earthquakes the bazaar has exposed. Numerous repairs and additions created the complex structure of Grand Bazaar. Kalpakçılar Street, which is the main street, opens to Nuruosmaniye on one side and to Beyazıt on the other side.
Today, shops from all occupational groups are active as well as jewelry stores producing and selling handmade jewels.