KATHIMERINI – Pantelis M. Leptos, George M. Leptos: Contributing to the Development of the Economy
Co-presidents of the Leptos Group, Mr. Pantelis M. Leptos and Mr. George M. Leptos were recently featured in a publication by “Η ΚΑΘΗΜΕΡΙΝΗ” (Kathimerini), where they discuss how the Leptos Group contributes to the economic growth of Cyprus:
Leptos Group is active in the real estate sector, and in the tourism, education and health sectors. What are your next plans? Will you proceed with the development of new projects?
George M. Leptos: Our planning includes the completion of major projects under construction such as Limassol Blu Marine, Limassol Park, Adonis Beach Villas, Armonia Beach Villas, Venus Gardens in Cyprus and the coastal projects Aphrodite, Paros Gardens in Greece, including the Elia Hotel in Chania, the construction of which has already begun, as well as our expansion into new markets. We are also moving forward with the preparation for the development of new projects in Cyprus and Greece, as well as the expansion of Neapolis University.
Our strategy is based on our experience, which exceeds 64 years, and our know-how. The professionalism and teamwork of our associates, the international sales promotion network we maintain, the strategic investments in the prime land market and the effective service to our clients, even after the sale, are all important factors that support the effort to further expand our activities.
Neapolis University is on a growth path, not only by strengthening its programs but also by expanding its partnerships with major international universities. The Coral Beach Hotel is in a phase of renovation and enrichment of its services, the Leptos Panorama Hotel has completed its renovation and is in the expansion phase, while the Iasis Private Hospital has just completed its expansion.
In the construction sector, our Limassol Blu Marine project is in an advanced stage of construction, offering luxurious seaside apartments and offices on the sea, in the center of Limassol. Also under construction are the Limassol Park projects in the casino area, the large Venus Gardens project in Chloraka, Paphos, the Coral Seas beachfront villas project in Coral Bay, the Akamantis beachfront project in Polis Chrysochous, as well as the Aphrodite Beach, Fournado Villas and Viglia Beach Villas projects in Chania, and Molos Beach Gardens in Paros.
What are the challenges facing the real estate sector on the path to a sustainable and resilient energy future?
Pantelis M. Leptos: The Cypriot real estate market is facing many challenges such as the increasing prices of labor and construction materials, high interest rates, but also the geopolitical instability that has shaken Europe and our region. The Leptos Group, with its 64 years of experience, continues a path of steady growth based on its deep foundations, its global sales network, our offices abroad and our dedicated team. The report shows that we remain resilient despite the challenges, creating continued demand and positive results.
Regarding the transition to a sustainable energy environment, the Group is taking the necessary measures. We have already received significant recognition for our efforts in promoting sustainability, such as the awarding for the second consecutive year of the “Gold Certificate of Excellence” at the Environmental Awards ceremony organized by the Cyprus Recycling Organization.
Furthermore, the Leptos Group, with the pioneering Neapolis Eco project currently under implementation, is setting the bar high for a future where sustainable and green development will be at the forefront. Neapolis Eco is one of the Group’s most ambitious and pioneering projects, combining innovation with sustainability and quality of life. A large-scale integrated development project that aspires to create a “green” city with smart infrastructure, offering residents and visitors a unique living experience.
What is your view on the prospects of the Cypriot market and which property categories do you believe are attracting the most interest?
P.M.L.: The prospects for the property market are excellent. Cyprus is a member of the EU and the Eurozone, has a strategic location at the crossroads of three continents, is a nice place to live and offers an attractive tax system. Therefore, demand from international investors is expected to continue to increase.
Demand in property shows increased interest in apartments and luxury homes, green buildings and sustainable permanent residences. Buyers today are looking for properties with modern amenities and services. In a process of attracting international companies based in Cyprus, the profile of buyers mainly includes international investors and professionals seeking safe/profitable investments as well as permanent residence
What do you expect to see from the government in the coming years to further enhance the country’s profile as an investment destination?
P.M.L.: We expect the government to strengthen infrastructure and facilitate investment licensing procedures. It should also offer incentives to support sustainable projects. Reducing bureaucracy, strengthening legal frameworks and encouraging more cooperation between the state and industry will contribute to the development of a more attractive investment environment. The incentives and plans that have been announced are positive steps towards strengthening the real estate sector. We believe that these measures can contribute to increasing the housing stock and offer more affordable housing options to citizens. Besides, the price level is a product of supply and demand. Other ways must be found to increase the construction of residential units. The most important factor is the rapid licensing of these developments.
What are the big bets and challenges of the Leptos Group for 2025?
G.M.L.: For 2025, the Leptos Group has set ambitious goals that include accelerating the development of new projects, expanding our presence in international markets and adapting to new market demands. The challenges we face relate to managing changing economic conditions, adapting to new technologies, the need for sustainability and strengthening competitiveness through innovation. At the same time, we remain focused on the quality of our services and the satisfaction of our customers, which is fundamental to maintaining our reputation and credibility in the market.