There are several documents suggesting that the name of the bazaar was first "New Bazaar". Then it got its name "Egyptian Bazaar" () because it was built with the revenues from the
Ottoman eyalet of
Egypt in 1660. The word
mısır has a double meaning in Turkish: "
Egypt" and "
maize". This is why sometimes the name is wrongly translated as "Corn Bazaar". The bazaar was (and still is) the center for
spice trade in Istanbul, but in recent years shops of other types are gradually replacing the sellers of spices. A major rebuilding and redevelopment effort started in the city following the fire, which included the resumption of the
New Mosque's construction works in 1660 (halted between 1603 and 1660, the construction of the mosque was ultimately completed between 1660 and 1665) and the beginning of the Spice Bazaar's construction in the same year (all buildings in the New Mosque
külliye, including the Spice Bazaar, were commissioned by
Sultana Turhan Hatice, the
Valide Sultan (Queen Mother) of Sultan
Mehmed IV.) ==Egyptian Bazaar today==