LEPTOS GROUP

60 years of a multi-faceted

organisation with solid foundations

Six decades of creativity and perception, a path of innovative and timeless projects. That’s been the history of the Leptos Group, established by Michael Leptos, who walked the first successful path in Keryneia in the early 1960s. The Group’s co-chairman Pantelis Leptos spoke about past, present realities and future prospects.

60 years of a multi-faceted organisation with solid foundations

Leptos is the leading land development group in Cyprus with a two pronged strategy; undertaking high quality unique projects, each having ‘their own heart’, which respect and enhance the environment. Its goal is innovation in land development, leading the way for the industry.

Michael Leptos established the Group in the early 1960s, taking the first steps in Keryneia.

The Leptos Group is a long established organisation in the country, with solid foundations going back more than six decades. Throughout this time it has faced major challenges, no less so when founder and executive chairman Michael Leptos was starting out in Keryneia, becoming a land development leader in the 1960s.

Michael Leptos established the Group in the early 1960s, taking the first steps in Keryneia.Leptos Estates launched its activities, post Cyprus independence, in 1961, setting off in Keryneia with land development and construction, creating innovative residential and holiday units. In the 13 years leading to Turkey’s invasion of 1974, the Group had successfully completed some major developments in Keryneia and was in the implementation process for a number of other properties, quite innovative for their time. But it all came to a standstill and these properties still remain under occupation.

Post-invasion, the Group turned to the Middle East and the Gulf, prioritising activities to major residential developments. One such example was Saudia City in Jeddah, made up of 4.000 residential units, yet another innovation.

Paphos at the forefront

The next step was Paphos becoming the focus of the Leptos Group land development activities, considering both its history and natural beauty. Beyond the five star hotel complex Coral Beach Hotel & Resort, as well as the Paphos Gardens Holiday Resort, the Basilica Gardens Resort, as well as other hotels, the Leptos Group focused on building holiday homes, residences, as well as commercial centres.

A prime example of their innovative construction approach, is the internationally acclaimed Kamares project in Paphos, securing numerous awards. It constitutes the largest complex of holiday homes and residences in Cyprus with over 1200 villas.

Keryneia  Kamares Palace (1971).

 

Major projects

Part of the Leptos Group strategic planning is taking on large scale works in the framework of innovation and paving new roads in the industry. Foremost and most ambitious amongst them is the ‘Neapolis’ project, an area of 111 hectares in the Paphos area. It’s virtually forging a city within a city, as it includes a modern fully equipped hospital, university and campus, a research centre, a mall, a cultural hall, residences and large scale parks.

Neapolis University Pafos.

The Group is expanding to Greece in a dynamic way, building holiday homes and hotel units, focusing on Chania, Paros and Santorini.

‘Costa Nopia’ is the Group’s next major project in Greece. It’s developing a prime location of 100 coastal hectares at the Kissamos Bay in the Chania area, constructing hotels, holiday homes, a marina, sports grounds, a golf course, commercial and amusement parks, a conference centre and more.

A leading position

The Group’s leading position is supported by the solid foundations of its founders’ vision, the professionalism and passion of its people, the international sales network, large plots within land development zones, its long standing experience of projects in various sectors and the comprehensive provision of support services.

But the most potent strength of the Leptos Group is the all around understanding of the wide ranging business environment in which it operates and constantly seeking new prospects. The Group is always redefining the meaning of ‘land development’, with new ideas, never failing to respect the environment.

A multi-dimensional Group

Developing as a business for over 60 years, Leptos has turned into a multi-dimensional Group, involved in many sectors, including Land Development, Tourism, Education and Health. Quality, innovation and creativity are always at the core of its business identity.

As the Group declares, ‘We guarantee our leading role with one of the most extensive property portfolios in Cyprus’.

One of the largest group of companies on the market, it is consistent and methodical in implementing a long time business strategy, having offices in 75 countries and boasting experienced, talented and specialised administrative and managerial personnel.

It employs more than 1.300 people, with distinguished personalities of our country taking part in its group of companies’ executive boards. It has around 7.500 shareholders.

These are challenging times and the Groups always steps wisely forward, utilising its rich heritage and experience, along with a modern vision, always moving forward.

The 2nd generation

The sons of Michael Leptos, Yiorgos and Pantelis graduated from British universities and returned to Cyprus in the early 1990s.

They took over the Group following their father’s death in January 2021.

George and Pantelis Leptos.

Yiorgos Leptos is co-chairman and Technical Manager of The Leptos Group, President of the Executive Boards of Pandora Investments Public Ltd, Neapolis University Pafos and the Iasis hospital. He is also President or Vice-President and active executive member of other Leptos Group companies.

He is also project manager for a number of works, including land development, architectural studies, management and construction.

Pantelis Leptos is co-chairman of The Leptos Group, as well as President and member of the ‘Leptos Calypso Hotels Ltd’ Executive Board. He is also involved in many other productive sectors both locally and throughout Cyprus, such as President and CEO of ‘KARKAVATSOS & CO Tourist Public Company’. Furthermore, he is Vice-President of the ‘Neapolis University Pafos’ and Vice President of Pandora Investments Public Ltd Executive Board.

Social contribution

Business creativity goes hand in hand with social contribution-that’s the Group’s timeless principle. In line with corporate social responsibility, The Leptos Group shows an active and multi-dimensional involvement in sports and culture, as well as supporting those in need. Ιts work, social contribution and environmental care activities, are quite extensive.

Innovation is a strategic option

Six decades of creativity and perception, a path of innovative and timeless projects. That’s been the history of the Leptos Group, established by Michael Leptos, who walked the first successful path in Keryneia in the early 1960s. The Group’s co-chairman Pantelis Leptos spoke about past, present realities and future prospects.

Pantelis Leptos, co-chairman of The Leptos Group.

What’s it like heading a Group with such a long history and established by such a dynamic, dominant personality as Michael Leptos?

It’s surely a great responsibility, not just connected with history, but also the Group’s leading role in many sectors, as well as its future development. The competition always follows on good ideas and innovation, trying to improve on them, so the bar is constantly being raised. Innovation has always been a strategic option for us, so we can always evolve and build on performance.

What does history bring to present and future?

Simply long term, solid foundations, carrying the experience of the Group, its personnel and all its associates. In our field of expertise, land development and real estate, this long time experience provides all the knowledge and skills, both in the design and construction of works, as well as client sales and after sales services. Our history is definitely quite a significant advantage. The Leptos Group is one of the biggest owners of residential land, has carried out most projects in Cyprus with the biggest sales and employing most employees in the real estate sector. The Group takes care of the after sales management better than any other. This brings with it great responsibility, but it is also a source of great strength for the future. This naturally requires building professionalism and credibility; otherwise it will be tough to respond. In the same way, you can’t change your strategy every day so to speak. We are flexible, adaptable and quick decision makers, but our fundamental direction remains the same.

Michael Leptos established the Group in the early 1960s, taking the first steps in Keryneia.

The Group’s DNA

Is that your Group’s DNA? A culture forged over time?

Absolutely right. From the outset, my father had the vision and ambition of creating projects that would improve the quality of the environment and the area they were built. He was very respectful of the environment, very aware and sensitive towards it. On many occasions, he cancelled projects to protect trees or built the property around them. Respect to the environment is a timeless value for our Group and we always strive to work towards further enhancing it.

When we launched the ‘Neapolis’ project 20 years ago, we were perhaps the first in Cyprus to talk of green bioclimatic development. Such concepts are now established and will be a necessity in the future. That’s just goes to prove the Group’s perception.

The Neapolis innovative project.Another DNA element is providing comprehensive services. Attracting foreign buyers is not as easy as it looks, as you’re dealing with an investor with a different philosophy and culture.

You are obliged to respect the fact that they know nothing of Cyprus, or our country’s rules and any transaction with them is not just about the property, but being made aware of every aspect of his life here.

Our business philosophy is to always forge strong relationships of trust with our clients, starting at sales and long term support. We care for example on how he handles his public utility bills, such as electricity and water, where he gets supplies from and so on. It’s a comprehensive service culture.

Landmarks

What was the most important moment for you, which defined the way forward?

The Group went through various stages in its life; the first steps in Keryneia, forced to move abroad as a business, returning to Cyprus and making Paphos its headquarters, expanding to Greece, going into the health and education sector through the IASIS hospital and NEAPOLIS University, as well as the major companies that are registered in the Stock Exchange, Calypso and Pandora.

Keryneia  Kamares Palace (1971).

I believe that during modern times and beyond the early steps in Keryneia and the Saudi Arabia projects, my father’s decision to make Paphos the headquarters of his business return to Cyprus post Turkish invasion, was perhaps the most significant of them all. And this I might add was during a time of rapid real estate development in Limassol, preferred by buyers from Lebanon and Kuwait.

Michael Leptos expanded to Arab Gulf countries post-1974. Pictured here is Saudia City, a new settlement of 4,000 homes.

After being made refugees and the blow to my family and our company, my father made a business move to Saudi Arabia and was away for two years. On his return to Cyprus, he decided to relaunch his activity in Paphos, as development in that area had yet to start and believed he could make his own mark, leave his imprint and identity in this development.

What was also significant along the way was the business opening to Greece around 2000 and then further expanding our activities in the education and health sectors.

Multi-dimensional

How did a real estate and land development organisation decided to go into the education and health sectors?

It’s all about what I mentioned earlier-the vision and holistic relationship of the Group with its clients.

A foreign investor is not just interested in the property he is acquiring, but also wants to be socially aware, meaning the quality and kind of services available in their city. And obviously everyone has medical needs or might want to know what’s available on their children’s studies. So this creates synergies. Another example is our wide ranging involvement in the tourist sector; we don’t just own hotels, but also a travel agency and office organising sports tourism and conferences.

Essentially our main activities in Cyprus involve real estate, tourism and services. We’ve expanded our scope by going into the education and health sectors.

What was the toughest moment for the Group?

Undoubtedly the 1974 invasion and the occupation of Keryneia. It was the toughest of times. It wasn’t easy to start a business from scratch again without capital, offices or personnel. What my father managed was a real feat.

Michael Leptos always enjoyed good relations with his associates and suppliers. So when an opportunity came up in Saudi Arabia, he suggested a deal with his old associates, colleagues and suppliers, who believed he could secure the job. He did make clear however that they would be paid when he got paid. Most of them accepted the proposal and their contribution and participation allowed him to re-launch himself professionally and reopen his business. It was one challenge after the other during this time, as you had to build up again not just from zero, but sub zero conditions.

On construction sites since childhood

When did you see what your father was doing?

I was just a child when my father took me along at construction sites. I was like a sponge, taking in experiences and learning along the way.

Any advice from your father that you carry with you?

My father wanted to be fair to everybody, his associates but particularly the ones close to him, his colleagues in the company, as he considered them part of the family. He didn’t’ want to change staff. And he also used to say that you always need to maintain a good name on the market and good relations with your associates.

Michael Leptos is awarded the Independence Medal of the Kingdom of Jordan by his Excellency King Hussein.

Why do you think the Group has won so many awards?

This is a result of our excellent team and hard work. There is a vision guiding us forward and goals that unite us.

Is the next generation here?

Yiorgos and I have two children each. His are a little bit older and his son has already joined the Group. The others are still studying.

George and Pantelis Leptos.

A social approach

What’s the importance of corporate social responsibility and how does this translate into action?

Corporate social responsibility is an integral part of our philosophy and culture. Over time our Group has made a real contribution in many sectors, but chose not to make anything public. Some of them are annual environmental action and regular contributions to foundations dealing with sensitive social issues. Amongst other contributions, we have also undertaken pro bono architectural studies, with the most recent being the Halki Theological School. The Neapolis University also offers many scholarships. We believe that the Group’s business activity should include a strong social imprint, giving back to the community.

Major prospects for Cyprus

-Your Group has definitely been affected by the 2013 financial crisis, the pandemic and the termination of the citizenship programme. How do you see the next day?

Cyprus has really major prospects, but it all depends on when the necessary steps are taken and if our generation takes on its responsibilities.

Cyprus is a small country and has the advantage of flexibility; it can make a big difference, with targeted small steps. Take Israel for example, right next to us, about the same size as Cyprus, but ten times the population. We don’t want our population to grow times ten, but it can easily increase by 5% and that will create a number of additional needs; residential, office, educational, service wise and so on. This is what you call development.

In addition, as a former British colony, the legal and financial system of Cyprus is quite similar to the British one and that in itself is a prospect. Countries such as Hong Kong, Singapore and Dubai have utilised this advantage much more than Cyprus and managed to form regional financial hubs. We have yet to achieve this, but it can definitely be done, with the right kind of targeted effort.

More so now during this timeframe, when Brexit has forced many companies to seek other European countries with a British justice system; and their options are limited; Cyprus, Malta and Ireland. This is another opportunity that needs to be utilised.

Limassol Del Mar

There’s also natural gas, yet to be utilised. Once the necessary infrastructure is created and income starts flowing in state coffers, this will strengthen development.

When it comes to the citizenship programme, it’s clear that only a small part of the property sales was connected to passports and that’s according to the land registry statistics.

And in spite of the pandemic restrictions and investors unable to visit Cyprus, property sales remain high, as our country enjoys unique advantages.

The pandemic has clearly shown the importance of living in a green country with clean air, good climatic conditions and the services that allow people to work from home. Indeed, Cyprus does possess all these positive characteristics which could attract investors.

It’s all on us; how we manage to encourage and attract prospective investors.

Our location is excellent and the EU advantage is a given. It’s also important that during a working day in Cyprus you can also contact both Asia and America. So it’s up to us to take the necessary steps and attract investors that will take up residence in Cyprus or move their business here.

Based on international experience but also new challenges, it is imperative that we focus on a new development model, a viable model, efficient in the long term.

Personally I am optimistic that we can actually achieve that.

The government needs to step in here, providing motives and targeting the right sectors.

Besides, as proven over the past few years, sectors grow when provided with the necessary state motives and incentives.

Neapolis University Pafos.

Michael Leptos (1937-2021)

The business acumen, creativity and social contribution of Michael Leptos goes hand in hand with the longstanding dynamic history of the Leptos Group, right from its establishment in Keryneia 60 years ago. A Keryneia man born and raised, Leptos was a self-made visionary entrepreneur, ahead of his time and showing perception in putting the civil engineer degree from the National Technical University of Athens, to excellent use, fully utilising the knowledge he acquired.

Michael Leptos established the Group in the early 1960s, taking the first steps in Keryneia.

He returned to his beloved Keryneia following graduation and established a technical and architectural office, before expanding to the land development sector.

He married Kiki Dhigeni in 1962 and had two sons, George and Pantelis Leptos.

George and Pantelis Leptos.

The Group begun taking over the construction of hotels and holiday homes, such as the Kamares Palace, Livadia Complex, Keryneia Gardens, as well as restoring a number of buildings at the iconic Keryneia harbour.

This was a decisive contribution in establishing Keryneia as a popular tourist destination.

In the early 1970s he also began developing ‘Snake Island’ in Keryneia, in cooperation with British companies. The project was meant to contribute in strengthening the town’s added tourist value, by creating a marina for private yachts and other boats. Other projects were also on-going.

The Kerynia Kamares Palace (1971).

The Turkish invasion stopped everything short and Leptos was forced to abandon Keryneia and his business activities in the area. As a result, he lost his entire property.

Post war, Leptos got involved with tourist development in Corfu, but soon turned to the Arab peninsula countries, where he undertook a number of projects between 1975 and 1977.

Michael Leptos is awarded the Independence Medal of the Kingdom of Jordan by his Excellency King Hussein.

He implemented a number of innovative land development projects, with foremost amongst them, Saudia City, a new settlement of 4.000 homes in Jeddah, Saudi Arabia.

Ο Μ. Λεπτός με τον Βασιλιά της Ιορδανίας, Abdullah II στο Αμμάν.

Michael Leptos returned to Cyprus in 1978 and made Paphos the headquarters of his companies. The Group’s philosophy was forging projects that had identity, a high degree of architectural aesthetics, quality, respect to tradition and sensitive to the environment. One such example is the Kamares project, clearly expressing the innovative development sense of Michael Leptos.

His guidance saw the Group’s expansion to dynamic economy sectors.

Michael Leptos passed away in January 2021, aged 83.

Numerous awards and distinctions

Michael Leptos has received numerous awards, including the following over the past two decades:

  1. Excellence Award from the International Federation of Real Estate Professionals (FIABCI) 2011
  2. A Chamber of Commerce and Industry Award on Economic Development and Business Leadership in 2009
  3. An Economic Development Award from the National Association of Land Development Businesspeople in 2002
  4. Awarded by the Energy, Commerce and Tourism Ministry with 1st prize in exports in 2014 and 2018
  5. A Paphos Chamber of Commerce and Industry Award
  6. A National Association of Hotel Directors Award
  7. An Employers and Industrialists Federation Award
  8. An honorary distinction in 1998 by King Hussein with the Independence Medal of the Kingdom of Jordan for his contribution as Honorary Consul of Jordan
  9. A honorary distinction by the Jordanian Senate
  10. An honorary distinction by the Keryneia municipality in 2009 and 2019
  11. An honorary distinction by the Pafiakos Athletics Club
  12. An honorary distinction by the Paphos local press for his contribution to the district-2011
  13. An honorary distinction by the Cyprus Rotary Club
  14. Honoured by Ecumenical Patriarch Bartholomew for his contribution to the Halki Theological School-2013
  15. Awarded by President Anastasiades in 2017 as the best Businessperson of the Year
  16. An honorary distinction by Archbishop Chrysostomos the 2nd.

Πολλές οι βραβεύσεις για τον Όμιλο.


Πολλές οι βραβεύσεις για τον Όμιλο.


Το 2017 ο Μ. Λεπτός βραβεύτηκε ως ο καλύτερος Επιχειρηματίας της Χρονιάς.

Works under construction, projects with a strong quality imprint and distinguishing architectural identity

Many of the Group’s works are gems of vision, standing out for their design, quality and location. Leptos Estates point to certain characteristic examples:

  • Adonis Beach Villas.A modern coastal development resort, providing high quality of life through excellent services, amenities and unique comforts. This luxury property stands on a tranquil area, an idyllic setting right over the sea, a close distance from the picturesque Paphos harbour and the gorgeous Coral Bay resort.
  • Coral Bay Resort.A fabulous setting-a world of its own with magical sandy bays, calm, shallow waters and natural scenery, ideal for permanent residence or family holiday homes. A rare beauty, simply out there waiting to be explored, luring the visitor in. This is a mixed use luxury resort that was designed and built exclusively for an experience of the Mediterranean way of life. Certain characteristics of these unique homes, include private pools, strikingly arranged gardens, large balconies, sun bathed porches, spacious bright interiors and a magnificent sea view.
  • Limassol Del Mar.  Α benchmark of international standards in one of the most sought after coastal areas in Limassol, with uninterrupted sea view from all the luxury apartments and penthouses. This model development building is made up of luxury residences, five star facilities and services, as well as high standard shops and restaurants. The market has really responded to the quality of this project, with an impressive number of prospective buyers and investors.
  • Limassol Del Mar.

    Aphrodite Gardens.

    A unique development work by Leptos Estates, the ‘Aphrodite Gardens’ project is much sought after by foreign buyers and investors. It’s excellent location at a prime location of touristic Kato Paphos, combined with functional design and high quality construction, have forged a classic and harmonious setting of a happy holiday home, a profitable investment but also the certainty of permanent residence and stay in a lush environment.

  • Venus Gardens.Made up of 200 independent and semi detached homes of varying modern architectural designs, the project is under construction with respect to the environment in mind, having both public and private gardens, ample parking space, two spacious public pools, a tennis court, and a restaurant, cafeteria and club complex, as well as a work management and administration office. Τhe vast sea view and proximity to surrounding beaches are a match made in heaven, a paradise of both summer as well as winter getaways.
  • Limassol Blu Marine.Strategically located in the modern Limassol city centre, Blue Marine is about the new way of living, a home of many comforts and facilities. The project stands next to the new marina and the Limassol Castle and provides high quality services. Spacious luxury apartments and penthouses offer an amazing sea view.
  • Limassol Park.Leptos Estates is creating a new and unique development for the city of Limassol, aptly named Limassol Park-it will prove to be one of the most attractive residential developments in Limassol. The project is situated in prime location, southwest of the city’s historic centre, the Akrotiri peninsula, one of the islands’ most lush areas. In close proximity to Limassol Park, is the Limassol Mall, the Fasouri Water Park, the new casino currently under construction and the enchanting Lady’s Mile beach.

 

Greece Projects

  • Aphrodite Beachfront.The complex has been developed in the historic coastal area of Maleme in Crete, close to the gorgeous Chania bay sandy beach, just ten minutes from the city.All the ‘Aphrodite’ residences enjoy a vast sea view, lush gardens and a spacious shared pool.The Leptos “Aphrodite Beachfront” provides a wide variety of maisonettes, apartments, penthouses, villas and shops.

The Aphrodite Beachfront in Crete.

 

  • Leptos Paros Gardens.A complex made up of apartments, maisonettes and villas, all designed in the traditional Cycladean style, bathed in light, bright colours and majestic views of the deep Aegean blue.The large pool and the smaller one for children, as well as lush gardens and ample parking spaces are a source of attraction to prospective buyers and investors.It’s been built on a golden sandy beach, an area of crystal clear waters, embracing picturesque traditional fishing villages, with white homes, Greek island alleyways, chapels in the midst of the idyllic setting and gardens sprawled with bougainvilleas. It’s just 15 minutes away from Paroikia, the islands’ capital, the tourist resort of Naousa and the local airport, providing easy, quick access to all the islands’ comforts and facilities.
  • Leptos Viglia Beach Villas.It’s made up of 16 luxurious coastal stone residences, with large gardens, situated in a prime location on the sandy beach of the Kissamos Bay in Chania. This location spells quality with every inch.All properties enjoy an amazing, unhindered sea and mountain view. It’s just two minutes away from the town of Castelli and 35 from Chania.

Address.

HeadQuarters
The Leptos House
111, Apostolou Pavlou Ave, CY-8046
P.O. Box 60146, CY-8129
Paphos
Cyprus

Telephone.

+357 26 880 100