LEPTOS Monthly Newsletter March 2021

MONTHLY NEWSLETTER LEPTOS GROUP OF COMPANIES

MARCH 2021

Michael Leptos: The Pioneering Developer who changed the face of Pafos Dear Friends, Clients and Associates, Welcome to the March 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 Pafos.

In January this year, we were all saddened by the news that our Founder and Execu ve Chairman of the Leptos Group of Companies, Michael Leptos, had passed away.

Michael Leptos was a pioneering developer, the first to recognise the poten al of the natural beauty of the Cypriot countryside.

He hailed from Kyrenia, and a er obtaining his degree in civil engineering from the Athens Polytechnic, he returned to his home-town where he embarked on his land developments projects. His successful business was ended abruptly by the 1974 Turkish invasion, resul ng 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 residen al 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 residen al developments in all parts of the Pafos district.

The Leptos Group, through Leptos Calypso

INSIDE THIS ISSUE

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 ac vi es to land development and the tourism industry. He also established the Neapolis University Pafos, a thriving academic ins tu on 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 u lising intelligent urban planning

and sustainable strategies based on new and innova ve technologies regarding energy, water, waste and ligh ng aiming to reduce carbon emissions. Michael Leptos’ vision for Neapolis, a world-class sustainable 'new city' of eco-intelligence, has already garnered interna onal recogni on 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 Associa on. His passing sparked an outpouring of grief in the real estate world. Michael Leptos leaves behind an incomparable legacy.

RESITOUR! HOLIDAY RESIDENCES WINS FOUR TRAVELLER AWARDS

LIMASSOL BLU MARINE : A BENCHMARK PROJECT FOR CYPRUS

CYPRUS ATTRACTS SIGNIFICANT FOREIGN INVESTMENTS

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LEPTOS GROUP NEWS

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Neapolis University Pafos Signing of Cooperation Agreement with the University of the Aegean Neapolis University Pafos in Cyprus and the University of the Aegean announce the signing of a coopera on agreement, which started being implemented at the beginning of the new year. The agreement was signed between Prof. Pantelis Sklias, Rector of Neapolis University in Cyprus, and Prof. Maria Mavri, Vice Rector of Research and Lifelong Learning at the University of the Aegean, and describes the framework of coopera on between the two Universi es and the planning for implemen ng joint ac ons, which aim to strengthen academic know-how through the exchange of tutors and researchers as well as the development of academic, research and lifelong learning best prac ces and synergies.

Par cularly, in the conven onal and distance Postgraduate Programmes in Educa onal and Counselling Psychology of the Department of Psychology of Neapolis University Pafos – programmes with many years of successful opera on – graduates

of Mental Health programmes at the University of the Aegean will be able to enroll, significantly expanding their academic op ons, and offering them a

Resitour! Holiday Residences wins four Traveller Review Awards for 2021 from Booking.com We are delighted to announce that Resitour! Holiday Residences, a member of the Leptos Group, has received four interna onal Traveller Review Awards for 2021 by Booking.com – the world’s leading digital travel company.

Recognised for our outstanding hospitality, excep onal service, diverse proper es, and extra safety measures, these awards are a reflec on of our sheer commitment to meet and create the ul mate guest experience.

Resitour! Holiday Residences offers the best of Pafos, Cyprus in rentals.

From quality self-catered accommoda on in exclusive loca ons to the convenience of knowing that every need is catered for, Resitour’s renowned hospitality is synonymous with comfort and service making your holiday in Cyprus, the perfect homeaway-from-home experience.

significant advantage of exper se and cu ng edge applied knowledge in the broad field of Psychology and Mental Health.

Leptos Estates awarded among top 25 Global Award Winners UGlobal Immigra on Magazine recognised the global invest migra on industry’s most influen al and powerful leaders with the dis nguished top 50 awards in four categories: Global Migra on Agency CEOs, Global Migra on A orneys, Investment Migra on Developers and Global Immigra on Companies.

Among the nominees in the ‘Developers’ category that were evaluated based on their industry experience, company performance, track record and reputa on in the field, Leptos Estates was awarded as one of the top 25 companies that inspire and drive the Cyprus and Greece Permanent Residency Investment markets forward.

LEPTOS ESTATES NEWS

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Limassol Blu Marine A Benchmark project for Cyprus The Leptos Group of Companies announces an important development for the real estate and construc on sector, which, during these difficult mes, is a strong s mulus for the Cypriot economy.

Limassol Blu Marine is a mixed-use development of interna onal standards, located on the west coast and at the heart of Limassol, in an area that has experienced rapid growth in recent years with the development of largescale investments.

A thriving business hub, and in the midst of a major urban regenera on planned by the Municipality of Limassol, Limassol Blu Marine is posi oned in front of Aktaia Odos, an area that includes Limassol Marina, My Mall, Dubai World Cruise Terminal, an interna onal championship golf course, and the construc on of the largest integrated casino resort in Europe.

The Leptos Group has appointed Lakis Georgiou Construc on Ltd. to undertake the construc on of the first phase of its new, groundbreaking beachfront development in Limassol. A pioneer in the construc on field for over thirty years, Lakis Georgiou Construc on Ltd. has extensive experience in a broad range of projects of all types, size and complexity, and is a guarantee of quality. Part of the founda on works have been completed, with the first phase of the development scheduled for delivery within 2022.

Limassol Blu Marine presents a unique des na on with every need catered for. The development consists of purpose-built offices, luxury residences, world-class facili es and second-to-none services, as well as uninter-

rupted sea views. The elevated entrance overlooking the Mediterranean, will host an impressive 50 metre outdoor infinity pool, impressively landscaped terraces and gardens, 200 square metre gym, children’s playground, bistro, luxury lobby, and 24-hour concierge service. Residents of Limassol Blu Marine will have access to more than 1,000 square metres of luxury relaxa on and wellness facili es, designed exclusively to offer treatments, sauna, steam baths and indoor heated pool.

The construc on of the project will contribute significantly to the Cypriot economy through the crea on of new jobs in both the construc on and services fields. The develop-

Adonis Beachfront Villas Award-winning luxury by the sea If you dream of owning a state-of-the-art, beachfront villa in one of the most desirable loca ons in Pafos, then Leptos Estates’ Adonis Beach Villas are the perfect choice. Built to the highest standards, and with me culous a en on to detail, Adonis Beach Villas will take your breath away from the moment you enter. These luxurious beachfront homes feature private swimming pools, landscaped gardens, BBQ areas for al fresco dining, large verandas, extensive outdoor space, and high-end fixtures and finishes that define modern-day elegance.

Recently awarded by the European Interna onal Property Awards, Adonis Beach Villas received two marks of excellence in the categories, “Residen al Development” and “Residen al Interior Private Residence.”

These awards are a genuine reflec on of the commitment of the en re Leptos team, and achievements of which we are all excep onally proud. It proves that we never rest on our laurels but con nue to raise the bar when it comes to the design of our homes, right down to the smallest detail.

ment itself has already a racted interest from foreign investors and a large number of buyers of high-end, luxury apartments, and aims to establish the area as “Europe’s New Riviera,” – a prime loca on for new Cypriot and foreign companies dealing with innova on, technology, finance etc.

The Leptos Group is the leader in the real estate and construc on sectors for more than 60 years. The Group maintains an interna onal presence and an extensive network of business associates in more than 75 countries, crea ng projects of excep onal aesthe c and construc on, offering unparalleled standards of quality of life and work.

PAFOS NEWS

CYPRUS NEWS

Pafos wins creative tourism award

Cyprus attracts significant Foreign Investments

The Pafos regional board of tourism is con nuing to strengthen the promo on of the area and has prepared an enhanced ac on plan with a budget of over €480,000, officials announced. “Sixty five per cent of the budget for 2021 will be allocated for the enhancement of the tourist experience and in new technologies,” head of the Pafos regional board of tourism Nasos Hadjigeorgiou said.

The aim of the ac on plan and product development for 2021, which also incorporates the efforts of local agencies, entrepreneurs and the ministry of tourism, is to ensure the leading posi on of Cyprus, and in par cular the Pafos district in the field of tourism, he added.

Pafos con nues to focus on its goals which are the upgrade of the experience, the expansion of air connec ons and the opera on of the des na on on a year-round basis.

“We are staying posi ve that the season can commence in March 2021 and everyone is on standby mode. There is a desire from travellers, tour operators, airline and all of the stakeholders to resume the holiday business if a vaccine is ready.”

He added that the spending per head of guests holidaying in Cyprus is expected to be lower, as can be seen in Europe and other source markets. In addi on, domes c tourism is considered vitally important, as over 600,000 residents of Cyprus that usually fly to Greece for holidays remained on the island this year and ‘rediscovered Cyprus’, he said. “Pafos was one of the most popular for domes c tourism,” he added.

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Cyprus has a racted significant inflows of foreign investments into mul ple sectors, surpassing all interna onal expecta ons. For many years, Cyprus has been iden fied as an ideal loca on to establish business presence, with many key benefits to foreign investors and their family members who are looking for a jurisdic on that offers stability, a gateway to Europe, and a high quality standard of Mediterranean living. The island ranked 8th out of the top 20 countries globally in Global Finance magazine’s “FDI Superstars 2018” for Foreign Direct Investments (FDI) performance and appeal.

The growth performance of Cyprus over the last seven years has been excep onal, a rac ng billions in foreign investment from the US, Asia, Russia, South Africa and Middle East. Since 2013, foreign investments in

Cyprus include, tourist resorts, hotels, beverage companies, shopping malls and commercial buildings, clothing-retail, banking, shipping and logis cs services, integrated communica ons and telephony, oil refineries, medical and pharmaceu cal services, marinas, casino resort, educa on, and mostly real estate.

The island’s posi ve credit ra ng has given both the economy and investor confidence a boost, and the successful recapitalisa on of its major banks and numerous large-scale projects have all contributed to the resurgence of Cyprus as a top FDI des na on.

Cyprus is also encouraging interna onal companies to set up interna onal and regional headquarters on the island, which is becoming an increasingly a rac ve gateway to both established and emerging markets.

Cyprus airports re-open under traffic-light system As of March 1, the exis ng category system has been replaced by the traffic-light system adopted by the European Centre for Disease Control (ECDC), whereby countries are classed as green, orange or red, with an added grey category for arrivals requiring a special permit.

EU member states and countries in the European Economic Area (Iceland, Liechtenstein, Norway) including Switzerland, will be sorted into the green, orange or red categories according to their epidemiological data. In addi on, the ministry of health will be evalua ng data from third countries (United Kingdom, Russia, Ukraine, Israel, Lebanon, United Arab Emirates, Jordan, Saudi Arabia, Egypt, Belarus) as well as those flagged by the ECDC as third countries to determine the category they should be classed in.

From April 1 Serbia, Qatar, Bahrain, United States, Armenia and Georgia will be added to the list.

Countries not included in the above list will be placed in the grey category. In simple terms, the new system will roughly correspond to the A-B-C system currently in place in Cyprus.

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