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
Leptos Estates is a property development group in Cyprus. 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 devel ...
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 The Diocese of Paphos (Latin: ''Dioecesis Paphensis'') was a Roman Catholic diocese in the city of Paphos, on the island of Cyprus. It was erected in 1196 and suppressed in 1570
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
Coral Bay is a popular tourist resort in the Peyia municipality 11 km north of the city of Paphos
Paphos ( el, Πάφος ; tr, Baf) is a coastal city in southwest Cyprus and the capital of Paphos District. In classical antiquity, two ...
. 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.