Thessaloniki is the second largest city in Greece. It is the seat of the municipality of the same name, the Regional Unity of Thessaloniki, the Region of Central Macedonia and the Decentralized Administration of Macedonia - Thrace. Since its foundation by Kassandros, Thessaloniki as a thriving Hellenistic city until Ottoman domination has capitalized on its strategic position and is being developed into a multicultural city. Since 1912, with the end of the Balkan Wars and the incorporation of the area into the modern Greek state, Thessaloniki is the second largest city in Greece. It is often referred to as the co-capital of Greece.