Leptos Estates is a

property development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. R ...

group in

Cyprus Cyprus ; tr, Kıbrıs (), officially the Republic of Cyprus,, , lit: Republic of Cyprus is an island country located south of the Anatolian Peninsula in the eastern Mediterranean Sea. Its continental position is disputed; while it is geo ...

. Its latest developments include Limassol Del Mar, Adonis Beach Villas, Coral Seas Villas and Limassol Blu Marine.

History

In the early 1960s, Michael Leptos started the property development business in

Kyrenia Kyrenia ( el, Κερύνεια ; tr, Girne ) is a city on the northern coast of Cyprus, noted for its historic harbour and castle. It is under the ''de facto'' control of Northern Cyprus. While there is evidence showing that the wider region ...

, Cyprus. Following the 1974 events in Cyprus, the group's activities were relocated to the Middle East and the

Persian Gulf The Persian Gulf ( fa, خلیج فارس, translit=xalij-e fârs, lit=Gulf of Persis, Fars, ), sometimes called the ( ar, اَلْخَلِيْجُ ٱلْعَرَبِيُّ, Al-Khalīj al-ˁArabī), is a Mediterranean sea (oceanography), me ...

, with an emphasis on constructing major residential developments. An example of these was the Saudia City project in Jeddah, comprising 4,000 homes. Leptos expanded in the 1980s by purchasing a large area of land from the Bishop of Paphos. Subsequent developments in the area included the Kamares Village and Olympus Village projects. By 2005, Leptos had become the largest property developer on Cyprus. The group later continued its activities in the region of Paphos. The company opened hotels, developed houses, and operated other businesses in the region. Later on, it continued its activities in Greece, specifically in the islands of Paros, Santorini, and Crete. Michael Leptos died in 2021 at the age of 83.

Developments

Michael Leptos, the founder of the company, opened the five-star hotel of Coral Bay, situated in Coral Bay, Cyprus. It then opened one more hotel in the same area, the Thalassa Boutique Hotel & Spa. The group now has a number of hotels and resorts, both in Cyprus and Greece, which operate under the Leptos Calypso Hotels Public Ltd.

References

{{Reflist, 2 Construction and civil engineering companies established in 1960 Construction and civil engineering companies of Cyprus 1960 establishments in Cyprus