MONTHLY NEWSLETTER LEPTOS GROUP OF COMPANIES
MAY 2021
Michael Leptos honoured with lifetime achievement award Dear Friends, Clients and Associates, Welcome to the May issue of our monthly newsle er, issued on behalf of the Leptos Group of Companies. Featured in this edi on, you will find news and informa on on our Group’s ac vi es, including relevant news on Cyprus and Greece. Michael Leptos, Founder and Execu ve Chairman of the Leptos Group of Companies, was posthumously honoured with the Life me Achievement Award at the Cyprus Architecture, Property and Interior Design Awards held in Nicosia on 17 March 2021. The pioneering developer was selected as a recipient of the award in recogni on of his outstanding accomplishments in the land development and real estate sectors. As a man who never rested on his laurels, Michael Leptos undertook new ventures and projects that helped put Cyprus on the global property map. Michael Leptos passed away in January this year. He hailed from Kyrenia, but relocated his business to the Middle East and the Arabian Gulf following the Turkish invasion of Cyprus in 1974. One of his groundbreaking projects was Saudia City, a large-scale development of 4,000 housing units, commercial centres, sports grounds and parks located in Jeddah. Upon his return to Cyprus in the 1970s, Michael Leptos fell in love with Pafos, and played a leading role in turning the district into what it has become today. His flagship project, among many other residen al developments, was Kamares Village, with over 1,000 villas, and is today the largest holiday home development in Cyprus. Under the umbrella of the Leptos Group of Companies, Michael Leptos established and developed a chain of hotels and resorts in Cyprus and Greece, and furthered his ac vi es in Limassol with two, high-rise game changing
INSIDE THIS ISSUE
developments that have redefined the city’s skyline. He established the Neapolis University in Pafos, a thriving academic ins tu on with students from around the globe, as well as the Iasis Private Hospital, a leading medical and surgical centre in Pafos. His vision for Neapolis – a worldclass sustainable ‘new city’ of eco-intelligence – garnered interna onal recogni on as a prototype ‘Smart EcoCity’ within the European Union. Michael Leptos was also the honorary consul of Jordan in Cyprus, and served for many years as the President of the Cyprus Land Developers Associa on. His passing sparked an outpouring of grief in the real estate world, leaving behind an incomparable legacy.
CLASS ‘A’ GOLD ENVIRONMENTAL
AWARD
Leptos Estates DEVELOPING PROJECTS WITH SENSITIVITY TO THE ENVIRONMENT
MANDRIA GARDENS : THE CHARM OF AUTHENTIC CYPRIOT LIFE
CYPRUS PROPERTY MARKET CONTINUES TO SHOW STRENGTH IN 2021
DEVELOPMENT PROJECTS WORTH 217M UNDERWAY IN PAPHOS
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LEPTOS GROUP NEWS
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Neapolis University Pafos Full member of the European Technology Platform NetWorld2020 (ETP) Neapolis University in Cyprus has been accepted as a member of the European Technology Pla orm NetWorld2020 (ETP) for communica on networks and services. The NetWorld2020 currently has more than 900 members, and all members can influence the research direc on related to future communica on systems. It gathers the key players of the communica ons networks sector, as: industry leaders, innova ve SMEs, and leading academic ins tu ons with a mission to develop posi on papers on technological, research-oriented, and societal issues; to seek discussion of problems with decision-makers in the poli cal and public domain; to create a Strategic Research and Innova on Agenda for Europe in the communica on networks domain and to strengthen Europe’s
leadership in networking technology. Also, the NetWorld2020 is closely related to the Associa on of the 5G Infrastructure Public Private Partnership (5G PPP) ini a ve. The 5G PPP is a joint ini a ve between the European Commission and the European ICT industry (ICT manufacturers, telecommunica ons operators, service
providers, SMEs, and Ρesearcher Ins tu ons). The membership of NUP in this pla orm is a significant achievement, which indicates the university capacity to further develop liaisons in this field and to create synergies among other members offering mutual benefits for the advancement of research and innova ve knowledge society.
Mandria Gardens The charm of authentic Cypriot life, within walking distance to the beach.
We believe a home is not only a place, it is also a feeling. Mandria Gardens retains the charm of authen c Cypriot life, and remains a paradise in Mandria, one of the most sought-a er coastal villages in Paphos, Cyprus. Designed to be connected to everything, residents of Mandria Gardens offers residents walking access to the beach,
charming village square with its culinary delights, nearby golf courses and resorts, ameni es and services, including the Paphos Interna onal Airport less than five minutes from the development. From large lagoon-style swimming pool, luscious landscaped gardens, to light and airy residences in an environment that is second-to-none, Mandria Gardens
transmits the unique and tradi onal side of Paphos, making this development an ideal investment for year-round enjoyment. Mandria Gardens offers an exci ng payment plan thereby maximising the benefits you will receive when purchasing your property from Cyprus' leading and interna onally renowned property developer.
LEPTOS ESTATES NEWS
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Leptos Estates Blood Donation In memory of Michael Leptos Leptos Estates ini ated a blood dona on campaign, in memory of its Founder, Michael Leptos, who passed away earlier this year. The staff blood dona on, that took place at the Group's headquarters in Paphos, is an ongoing ini a ve that forms part of Leptos' community support mission. Blood dona on is a healthy prac ce that helps in trea ng bleeding disorders, chronic anemia, cancer, and other blood abnormali es,” said Mrs. Stella Delitsikou, Human Resources Execu ve of Leptos Estates. “A decision to donate blood can save a life,” she added. Leptos Estates con nues to contribute to the society according to the Group's vision of suppor ng its employees, their families, and the community at large.
Cyprus Property Market continues to show strength in 2021 The Cyprus Property Market has con nued to show its strength for 2021. Despite the lockdowns and travelling restric ons of last year, the housing market has remained stable with a posi ve outlook on sales, par cularly in the region of Pafos. According to the Department of Lands and Surveys, Pafos has shown an increase in sales highligh ng the regions poten al and investment interest from locals and foreigners. Pafos boasts many residen al and commercial developments already underway, making the region a significant business and tourism des na on with unique features and infrastructure. The island’s excellent handling of the pandemic, low interest rates, and gradual li ing of travel restric ons has placed Cyprus back in the spotlight with experts predic ng 2021 will see an increase in property sales that will accelerate into 2022.
Greece Permanent Residency Apply Remotely and enjoy the benefits.
CYPRUS NEWS
PAFOS NEWS
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46 development projects worth €217m underway in Paphos
Cyprus welcomes arrivals from main tourist markets
The health ministry of Cyprus recently upgraded Russia, the UK, China, Ukraine, Lebanon, Egypt, Belarus ,UAE ,Jordan and Israel, the ten biggest markets for Cyprus in terms of tourism, from grey to red category, meaning passengers arriving from those countries do not have to self-isolate upon arrival. They will, however, have to present two nega ve PCR tests, one within 72 hours before departure and another upon arrival in Cyprus. Along with Russia, the UK and Israel, other countries that moved from grey to red include the United Arab Emirates, Ukraine, Jordan, Lebanon, Egypt and Belarus. Serbia, the USA, Armenia, Georgia, Bahrain, Qatar have also been included in the list of red countries. The new classifica on of countries, which is based on their epidemiological condi ons, came into effect on April 1, 2021. The categories are in line with the guidelines of the European Centre for Disease Preven on and Control (ECDC). The health ministry ranks countries based on the weekly evalua on of the ECDC. In cases of countries not assessed by the ECDC, this evalua on is done by the health ministry. All passengers, regardless of country category, are obliged to submit an applica on for the Cyprus Flight Pass within 24 hours prior to their departure flight. Moreover, sample molecular laboratory tes ng of passengers on selected arriving flights will be carried out. For more informa on on country categories, please consult the Cyprus Government web portal.
A total of 94 development projects cos ng €123 million have been carried out in Paphos in the last eight years, with another 46 worth €217 million underway, Agriculture Minister Costas Kadis said during a tour of the district. Out of the 94 projects, 27 concerned municipali es and were worth €62 million, 57 projects cos ng €33 million concerned communi es, with €28 million spent on ten public service projects. “These projects will enable the economy to start a slow recovery out of this very difficult period,” Kadis said. The minister visited the Paphos desalina on unit in Kouklia, where he was briefed about the progress of the project, which is nearly ready and awai ng the arrival of experts from Italy so that it can be handed over, epidemiological condi ons allowing. Kadis added that the desalina on unit, which is part of an islandwide ini a ve to upgrade development infrastructure, is an important step in tackling water scarcity in the Paphos district. In combina on with the other units, it will cover up to 80 per cent of the drinking water needs of large urban and tourist areas of Cyprus, sa sfying to a very significant degree their increased domes c, business, tourist and agricultural needs, he said. As a new addi on to the Paphos district’s water supply sources, the plant will ensure the uninterrupted supply of water in the city, suburbs and communi es of the district, Kadis added, explaining that the unit is es mated to supply more than five million cubic metres of drinking water annually.
Today, plans for 46 projects with a total cost of €217 million are underway in Paphos municipali es and communi es. These include major improvement works to the road network of both urban and more remote areas, as well as a number of infrastructure projects, like a dialysis unit worth €4 million which is due to be finished by the summer. Among the 24 projects underway, Kadis said, are a plan for the sustainable management of the Akamas Na onal Forest Park, improved management for archaeological sites in Kato Paphos, the construc on of the Geroskipou Health Centre and more roadworks. The 94 projects cos ng €123 million that have already been completed, have changed the face of the city and province of Paphos, Kadis said, no ng that along with changing its tourist character, they offer many prospects for further improvement and development. He also assured that the aesthe c and func onal improvement in the city will con nue, further strengthening the local economy and the wellbeing of local residents. Kadis said that several of the ministry’s projects are aimed towards helping farmers, reminding that in the past year €20 million was set aside to help the agriculture industry in light of the pandemic. He then met with farmer representa ves from several Paphos communi es to discuss two further measures for their support, the first being the “Green Harvest” ini a ve, which will use €1.7 million to help vineyard growers, and the second €400,000 to support growers of deciduous trees in lower al tudes.
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