Historic mansion of famous Armenian businessman and philanthropist located in Turkey will be renovated and turned into a hotel and boutique, said Turkish businessman Necip Dincer.

The entrepreneur said that he had purchased a mansion of Calouste Sarkis Gulbenkian from a family living in Istanbul, Beyazgazete reported.

Dincher said he had appealed to the Turkey’s supreme council of the cultural and natural property for permission to repair the building.

“While discussing the project of reconstruction all the architects were impressed by the beauty of the mansion. The house, built in the shape of a cross, was named the most beautiful building of Cappadocia. We think it will become a very beautiful place for Armenians and Greeks,” he said.

The Turkish businessman stressed that repair works are estimated at $600,000 adding reconstruction of the mansion will contribute to tourism development in Kayseri province.

Calouste Sarkis Gulbenkian was born in 1869, studied in England. In 1898 Gyulbenkyan was appointed adviser on economic affairs in the Ottoman embassies in London and Paris. He also was president of the Armenian General Benevolent Union (AGBU).

The first Armenian billionaire never forgot about his roots and supported the Diaspora Armenians. Many Armenians around the globe receive secondary and higher education getting scholarships from his fund.