HISTORIC HERITAGE PRESERVED FOR THE FUTURE:

The historic Büyükada Greek Orphanage, one of Istanbul’s most significant cultural landmarks, is set to be brought back to life through a comprehensive restoration project. Recognized as the largest wooden structure in Europe and the second largest in the world, this extraordinary heritage site will be restored, repurposed, and reopened following a collaborative effort led by the Ecumenical Patriarchate of Constantinople and Bilgili Holding, with the participation of ĒNSOFI Holding.

Designed by the renowned architect Alexandre Vallaury, the historic building was originally constructed in 1898 as a hotel under the name "Prinkipo Palace." In 1903, it was purchased by Eleni Zarifi and donated to the Ecumenical Patriarchate of Constantinople, subsequently serving as an orphanage for many years. Vacated in 1964 and gradually deteriorating over time, the building will now be preserved for future generations through this new restoration initiative while maintaining its architectural identity.

INTERNATIONALLY RECOGNIZED CULTURAL HERITAGE

Distinguished by its location, scale, and architectural beauty, the five-story, 206-room structure was included in Europa Nostra’s list of “Europe’s 12 Most Endangered Cultural Heritage Sites” in 2018. The project aims not only to safeguard an important part of Istanbul’s heritage but also to preserve a significant component of the world’s cultural legacy.

INTERNATIONAL SOLIDARITY AND COOPERATION FOR HISTORIC HERITAGE

The restoration agreement was signed on June 15, 2026, during a ceremony held at the Ecumenical Patriarchate of Constantinople. The event was attended by His All-Holiness Ecumenical Patriarch Bartholomew, Archbishop Makarios Griniezakis of Australia, Bilgili Holding Chairman Serdar Bilgili and members of the Board of Directors, Managing Architect and UNESCO Goodwill Ambassador Costantza Sbokou-Constantakopoulou representing ĒNSOFI S.A., and Laki Vingas, Coordinator of the Büyükada Orphanage Restoration Committee.

The project will be realized through the partnership of the Ecumenical Patriarchate of Constantinople, owner of the property; Bilgili Holding, one of Türkiye’s leading investment companies; and Greece-based ĒNSOFI Holding, a pioneering group in sustainable tourism and real estate development. Beyond restoring an architectural treasure, this collaboration demonstrates how cultural heritage can serve as a bridge between peoples and nations, fostering mutual understanding and shared respect.

ECUMENICAL PATRIARCHATE OF CONSTANTINOPLE

Dedicated to preserving historical and cultural heritage, the Ecumenical Patriarchate of Constantinople serves as the spiritual center for millions of Orthodox Christians worldwide. Under the leadership of Ecumenical Patriarch Bartholomew, it plays a leading global role in environmental awareness, interfaith dialogue, and the preservation of cultural heritage. Donated to the Patriarchate in 1903, Prinkipo Palace (the Büyükada Greek Orphanage) stands as one of the most significant symbols of the Patriarchate’s vision to preserve historical memory and pass humanity’s shared heritage on to future generations.

BILGILI HOLDING

Bilgili Holding, one of the world’s leading real estate investment companies, together with its private equity real estate investment arm BLG Capital, manages more than $8 billion in assets across global hospitality, luxury residential, office, and mixed-use developments. With a distinguished track record of success, the company is driven by a vision of reconnecting cultural memory with contemporary urban life.

Bilgili Holding has delivered landmark restoration projects including Akaretler Row Houses, A’jia Hotel, Soho House Istanbul, The Peninsula Istanbul, Atatürk House in Thessaloniki, and the Alay Pavilion of Topkapı Palace. Internationally, the company is also recognized for prestigious developments such as Europe’s first W Hotel (Istanbul), the first Soho House in the MENA region, Amanruya Bodrum, Mandarin Oriental Hotels, Rosewood The Raleigh Miami Beach, and Europe’s first standalone The Ritz-Carlton Residences.

Expanding its global influence through strong international partnerships, Bilgili Holding has also developed “The Greenwich by Rafael Viñoly” in New York, a project representing the pinnacle of modern architecture and luxury living. One of the final works of the world-renowned architect Rafael Viñoly, the iconic tower rises 278 meters and ranks among New York City's ten tallest residential-only buildings.

In Miami Beach, the company also developed the award-winning The Fifth, the first project of its kind in the United States, redefining the modern office experience.

ĒNSOFI HOLDING

ĒNSOFI Holding is an investor and developer focused on creating high-quality, sustainable destinations through a long-term value creation approach. Headquartered in Greece, the Group operates across hospitality, leisure, and residential real estate sectors.

Its subsidiaries own and manage a portfolio of landmark developments, including Costa Navarino, The Ilisian, and waterfront projects within The Ellinikon on the Athens Riviera. Guided by a strong sense of stewardship and respect for local communities, partners, and stakeholders, ĒNSOFI prioritizes quality in every project, creating places designed to endure for generations.