An agreement has been reached to redevelop the historic Prinkipo Greek Orphanage, located on Büyükada island near Istanbul, into a luxury hotel. The deal was signed by representatives of the Ecumenical Patriarchate of Constantinople and a private investment group.
The Prinkipo Greek Orphanage, recognized as one of the largest wooden buildings in Europe, has remained unused for decades. The structure, which was originally constructed in 1898, has been vacant since it was closed in 1964. The building is listed as endangered due to its deteriorating condition.
According to the terms of the agreement, the Ecumenical Patriarchate will maintain ownership of the property, while the investor will finance the restoration and conversion of the building into a high-end hotel. The project is expected to include the preservation of the building’s architectural features and historical significance.
Ecumenical Patriarch Bartholomew stated, “This agreement represents a significant step toward the preservation and revitalization of a monument of great importance to our community and to the cultural heritage of the region.”
The restoration is anticipated to begin once the necessary permits are obtained from Turkish authorities. The timeline for completion has not yet been announced. The project aims to attract international visitors and contribute to the local economy while ensuring the protection of the site’s historical value.
Further details about the investment group and the exact scope of the redevelopment have not been disclosed. The Prinkipo Greek Orphanage has previously been the subject of international attention due to its architectural and cultural significance.
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