In January this year, we were all saddened by the news that our Founder and Executive Chairman of the Leptos Group of Companies, Michael Leptos, had passed away.
Michael Leptos was a pioneering developer, the first to recognise the potential of the natural beauty of the Cypriot countryside.
He hailed from Kyrenia, and after obtaining his degree in civil engineering from the Athens Polytechnic, he returned to his hometown where he embarked on his land developments projects. His successful business was ended abruptly by the 1974 Turkish invasion, resulting in Mr. Leptos losing everything he had created overnight.
This did not dampen his entrepreneurial spirit. He moved his business to the Middle East and the Arabian Gulf, focusing on major residential developments. One of his groundbreaking projects was Saudia City, a development in Jeddah, Saudi Arabia, with 4,000 housing units including commercial centres, sports grounds and parks.
On his return to Cyprus in the 1970s, Michael Leptos fell in love with Pafos, its scenic countryside, and the rich history and culture of the region. He played a leading role in turning the Pafos district into what it has become today. His flagship project was Kamares Village, with over 1,000 villas, is today the biggest holiday home development in Cyprus. There were also many more residential developments in all parts of the Pafos district.
The Leptos Group, through Leptos Calypso Hotels, which is listed on the Cyprus Stock Exchange, also owns a chain of hotels and resorts in Cyprus and Greece, including the Coral Beach Hotel and Resort and the Paphos Gardens holiday resort. The Group is developing the Limassol Del Mar, and the Limassol Blu Marine - a new high-rise beachfront development near Limassol Marina and the luxury casino integrated resort in Limassol.
Michael Leptos did not restrict his activities to land development and the tourism industry. He also established the Neapolis University Pafos, a thriving academic institution with students from around the world, as well as the Iasis Private Hospital, a leading medical and surgical centre in Pafos.
The Leptos Group has always been at the forefront for utilising intelligent urban planning and sustainable strategies based on new and innovative technologies regarding energy, water, waste and lighting aiming to reduce carbon emissions. Michael Leptos’ vision for Neapolis, a world-class sustainable 'new city' of eco-intelligence, has already garnered international recognition as a prototype 'SmartEcocity' within the European Union.
This was a man who never rested on his laurels, constantly undertaking new projects and ventures. His mantra was the “value of an enterprise is not measured by the returns of the day, but by the legacy it leaves behind”.
Michael Leptos was also the honorary consul of Jordan in Cyprus, and served for many years as the President of the Cyprus Land Developers Association. His passing sparked an outpouring of grief in the real estate world. Michael Leptos leaves behind an incomparable legacy.