An Innovative Approach to Development
Angelos Markides, CEO, Lanitis Development
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anitis Development looks to bring top quality integrated resorts to the island of Cyprus
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RREEF's initial interest in acquiring waves.The award-winning resort fea- privacy and exclusivity. Furthermore, Lanitis Development principally tures an InterContinental resort since the products and services stems from their flagship project hotel, an 18-hole championship golf offered by Lanitis Development are known as Aphrodite Hills, the first course, an extensive spa, a village geared towards the high-end luxury integrated golf, leisure and real estate square with shops and restaurants market, Markides believes that there development in Cyprus. The project and luxurious properties for sale and is potential for future Cypriotwas executed with the participation rent. Russian collaboration. “Generally of the international hotel chain speaking, our development projects InterContinental, Carnegie Ltd for The uniqueness of Aphrodite are considered to be a risky investthe golf facilities and other strategic Hills, both in terms of its dimensions ment because of the magnitude and and design, will serve as inspiration in size of our operations. However, if a In June 2007, Thalassa Holdings partners. submitted a public offer to the shareholders of Lanitis Development for the acquisition of 100 percent of its issued share capital, which was aspire, through our team spirit, attention to quality, and accepted and completed successfully. anitis Development is owned by Thalassa Holdings, a newly established joint venture between RREEF (an international investment fund, member of the Deutsche Bank Group), which owns 75 percent of the above joint venture, and the Lanitis Group which owns 25 percent.
Lanitis Development was founded in 1990 by the fourth generation of the Lanitis family, founders and owners of the Lanitis Group, which is one of the oldest and biggest business conglomerates on the island, involved in most sectors of the local economy. Today, Lanitis Development is the largest property developer and manager of integrated, large scale projects in Cyprus. The company was established to plan, design, develop and manage integrated resort projects, having secured the exclusive cooperation of strategic partners of international reputation and expertise.
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customer focus, to become the best developer and manager of the top integrated resorts in Europe"
To visit Aphrodite Hills in Cyprus is to experience a higher level of relaxed opulence, superior service and deluxe accommodation.The luxurious resort is set amid a backdrop of stunning natural beauty in the Mediterranean coast near Pafos, and overlooks the very spot where Aphrodite, the Goddess of Love, is said to have emerged from the
visit Aphrodite Hills in Cyprus is to experience a higher level of relaxed opulence, superior service and deluxe accommodation”
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the future for other projects of similar character in Cyprus and abroad. This vision is echoed by the CEO of Lanitis Development, Mr. Angelos Markides. “We aspire, through our team spirit, attention to quality, and customer focus, to become the best developer and manager of the top integrated resorts in Europe. Our company's strategy is to utilize our experience on large-scale projects to purchase big pieces of land with unique characteristics, and to develop these into fully-fledged resorts.”
project succeeds along the same lines as Aphrodite Hills, then the returns are extremely high,” he points out.
According to Markides, “We believe that Russian buyers' priority is not the price of a villa -- they want luxury, privacy, exclusivity and comfort, while the location and environment must support this. As a result, we try to preserve the natural beauty of the landscape whenever possible, while the resort has a 24-hour security patrol. We also realize that Russian investors are taking Russian clients are extremely notice of Lanitis Development, par- demanding, and we are currently ticularly since there is an increasing striving to offer services and facilities demand in the Cypriot real estate that are aimed at this increasing segmarket for luxurious villas offering ment of the market.”