Giorgos Kovas and Iro Vetopolou-Kova nicknamed the house Olives and made it into one of the most recognizable estates in the wealthy Porto Cheli area. It is said that the house and the grounds have been designed in strict concordance with feng shui principles and that the gardens included various exotic species from around the world.
Nikolaos Goulandris has spent much of his life in New York and London and it is said that he bought the house to obtains closer relations with Greece. He fell in love with the area after visiting the nearby estate of Aleko Goulandris and plans to make this house his summer residence. Nikolaos Goulandris is married to a Russian woman.