The monastery is southeast of the prefecture of Evros, near the river of the same name, in the center of the city of Feres. It includes walls, towers, a gate and a temple of the type of cruciform with five domes. The decoration is of the 12th c. of the School of Constantinople. The church later underwent several repairs and additions.
The monastery was founded in 1152 by the emperor Isaac Komnenos, who built this monument that reflected the grandeur of the art of Constantinople. He dedicated it to Virgin Kosmosoteira (Mary the world savior) and he built the church supervising the works himself.
The temple is imposing with an impressive height. Among the icons, stand out those of the four military saints. Around the church there were monk cells and baths, a bank, a library with a sacristy, a tower with beacons, a water tank, a hospital, a guest house, and the chapel of St. Prokopios, all inside the monastery.
Mills, stables and a cemetery were built outside monastery walls. The founding of the monastery is the reason of the creation of the settlement of Vira (now called Feres). However, the looting in the following centuries destroyed the monastery along with all its movable property (icons, library, documents). Only the Typicon (the statutes of the operation of the monastery) survived, found five centuries later to be moved to the monastery of St. Gerasimos in Kefalonia. Repairs restored part of the monastery and the church.
Panagia Cosmosoteira is considered the patron saint of Thracians everywhere and this temple is their pilgrimage center. In fact, Feres hosts the headquarters of the World Institute of Thracians, “Panagia Kosmosoteira”. The monastery celebrates on 15 August and gathers people from all over Thrace.