An important step to the rescue and re-use of one of the most iconic monuments of Constantinople's Hellenism took place on Monday, June 15, 2026, as the Ecumenical Patriarchate signed a strategic cooperation agreement for the management and exploitation of its historic complex Greek Orphanage of Prince.
The agreement, which aspires to ensure the future of Europe's largest wooden building and one of the largest worldwide, was signed at the Maraslio School building in Fanari by Ecumenical Patriarch Bartholomew and the president of Bilgili Holding, Serdar Bilgili. ENSOFI Holding, a Greek company with a significant presence in the field of sustainable tourism development and real estate investments, represented by Costanza Sbokou-Constantakopoulou, was also involved.
This initiative is the result of many years of efforts by the Ecumenical Patriarchate to rescue a historic building, which has been facing serious problems of deterioration for decades, while bearing a heavy historical and symbolic significance for homogeneity and wider Hellenism.
Multiannual effort to save a historical monument
The signing ceremony was attended, among other things, by Archbishop of Australia Makarios, chairman of the special committee of the Ecumenical Patriarchate who worked for the elaboration and finalisation of the agreement, as well as the Lord of Great Papers of the Great Church of Christ Panteleimon Vigas, who in recent years coordinated the relevant actions to promote the project.
Present were also Accompanying Metropolitans, Patriarchate executives and high-ranking representatives of the two business groups, who would participate in the project.
According to church sources, the agreement marks the beginning of a new era for the historical complex, aiming not only at its rescue but also at its reopening in a way that respects its historical, cultural and social character.
From the "Principos Palace" to the Greek Orphanage
The history of the building begins in the late 19th century, when it was built in order to function as a luxury hotel under the name "Principos Palace". However, this plan was never implemented.
In 1903 the property was donated to the Ecumenical Patriarchate by the great benefactor Eleni Zarifi and converted into an orphanage, offering shelter, education and care to thousands of children of Rome.
For more than six decades the institution has been a reference point for the homogeneous community. Its operation was discontinued in 1964, following a decision by the Turkish authorities, as part of a particularly difficult period for the Greek presence in Turkey.
Justice and the new perspective
The decision of the European Court of Human Rights in 2010, which recognised the ownership right of the Ecumenical Patriarchate over the property, put an end to a long legal dispute, was decisive for the preservation of the property.
This decision was a turning point, as it allowed the Patriarchate to design the future of the monument more safely and to seek investment and development solutions that would ensure its rescue.
The Prince's Orphanage remains one of the most recognizable symbols of the historical presence of Hellenism in Constantinople. The new agreement is considered by many as a historic opportunity to regain life a building that is inextricably linked to the memory, cultural heritage and history of Rome.
After decades of abandonment and uncertainty, the agreement signed sets the foundations for the entry of the iconic complex into a new period, where the protection of its historical identity will be combined with its sustainable use, enabling future generations to get to know and honor this precious legacy.