Pantelis Leptos of the Leptos Group re-elected as chairman of LBDA

March 16, 2015

Pantelis Leptos has been elected to a second term as Chairman of the Cyprus Land & Building Developers Association during the Association’s Annual General Meeting in Nicosia. The new Board which resulted from the recent Annual General Meeting of the Association, has already held its first meeting as a body. Other than Mr. Leptos as Chairman, Deputy Chairman elected Mr. Antonis Kakoullis, Vice chairman Mr. George Mais and Mr.John Misirlis.

In his first statement Pantelis Leptos stated that the property sector continued contributing almost 20% on the GDP despite the crisis by attracting more than 1 billion of foreign capital in the Island’s economy. This improvement, Mr. Leptos said ,has clearly demonstrated that the land development sector is back on track.

As he pointed out, the Cyprus government had taken special measures in order to help attract foreign capital. According to the new immigration law, certain property buyers can be granted Cypriot citizenship or permanent residency in Cyprus in exchange for investments in the island`s economy. The new immigration schemes, which had been introduced by the cabinet in May 2013, have already proved to be very effective in attracting significant overseas investment.

The Association was founded in 1983 and is a member of the Cyprus Employers and Industrialists Federation (OEB) and the International Real Estates Federation (FIABCI). The major concern of LBDA is the preservation of the environment and the protection of the public, the goal is to create a central body in Cyprus where land and building developer business can be grouped together for better and more effective promotion of their professional interests.

Mr. Pantelis Leptos is a director of the Leptos Group of Companies, and is the Deputy President and Member of the Board of Directors of the Public Company “Leptos Calypso Hotels Ltd”. He is also Past President of The Paphos Hotel Owners Association and the ex-Board Treasurer of the Cyprus Hotel Owners Association for a second term.

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