It is.
There are 10 distinct districts in the city. Here's a listing with a brief over-view:
The Shadhi: This it low rent/poorest district. Home to the peasants and those that do much of the laboring, especially in the Golden triangle. (Shelzar's answer for how to feed a populace without going blind from fishing.)
The Adazi District: The home to many of the lesser merchants in the city, it's also one the fastest growing parts of the city
The Pezwarhi: This the place that many of the powerful, wealth and influential merchants (including House Asuras) have as homes
Also here is the menagerie where lots of strange and wonderful things can be found. (Including a dragon.

)
The Maze: This is kind of the world veiw of Shelzar as many brothels and theives work out of here. Very disreputable but also one of the more visited places in the city. Also the Cult works out of here.
The South Docks: Home of the worst scum imaginable, the south docks is where much of the illegal activities occur.
The Souk: Home to much trade as it's kind of the world's largest open air bazaar. Beware of cut purses and thieves, as they prowl here as well.
Old Town: Home of the provincal goverment, as well as one of the OLDEST (and that's saying something) part of the city. Here is all the political wheeling and dealing is done (publically)
The Merchant Quarter: Slightly misnomer, as much of the city IS about trade, this home to shops owned by influential and powerful merchant houses. It's also one of the nicest spots in the city. The Calastian Embassay is also located here
The Foreign Quarter: Formerly home to many foreign merchant, this district deals in black market goods as well as back room deals. Only thing of note, Nemorga got a shrine here.
North Docks: While it doesn't have the same volume of trade as the South Docks, the North Docks do handle much of travel and smaller ships. Thus this is a nice stopping place for people and you find a wide variety here.