In this interview, Evagoras Lanitis talks about the evolution of one of Cyprus’ oldest and most influential family businesses – Lanitis Group. He shares insights into the group’s origins, its diversification into multiple sectors, and how the family has maintained its legacy through five generations.

The Lanitis Group has a long and rich history. Can you start by telling us about its origins and how it all began?

The Lanitis Group was founded in 1896 by my great-grandfather, Panagis Sykas, who later renamed the company Lanitis after our family’s origins in Laneia, a village near Limassol. He started with farming and agricultural exports, but over the years, the business expanded into trading, banking, hospitality, and other sectors. One of our first major successes was establishing Laiki Bank along with other local businessmen, which began as a local cooperative banking institution in Limassol to serve the local community and gradually grew into one of the leading banks in Cyprus. That is just one example of how we’ve always focused on building both our business and the community around us.

How did the group evolve from agriculture into other industries like banking and tourism?

The move into banking was a key step for us. It provided the capital and the connections we needed to expand. Tourism and constructions followed naturally after that, especially with Cyprus becoming a popular destination. We were the first to establish a five-star hotel in Limassol, which helped elevate the city's profile as a luxury destination. Over time, we’ve continued to diversify into sectors like shipping, leisure and entertainment , and energy. It’s all about adapting to opportunities as they come.

The Lanitis Group is now in its fifth generation of leadership. How has the family managed to successfully transition from one generation to the next?

Each generation brings its own challenges, but we’ve always placed a strong emphasis on maintaining our core values—integrity, reliability, quality and a commitment to the community. These values were passed down from our founders and continue to guide us today. When transitioning leadership, we make sure that the next generation is well-prepared and supported by experienced professionals from outside the family. This balance between family involvement and external expertise has been key to our longevity.

The central office of Lanitis Group. Photo is provided by Lanitis Group

Have there been any particular challenges in keeping the family involved in the business as it has grown and diversified?

It’s never easy to keep family members engaged in such a large and diverse group of businesses. Not everyone prefer or like to take on higher management roles., So we’ve had to make sure that only those that would like to commit long term and of course have the right skills and experience are involved in the managerial decision-making process. At the same time, we bring in professional managers who share our values and have the expertise we need to run such a large group. It’s all about finding the right balance.

The Lanitis Group has diversified into numerous sectors over the years. Can you tell us more about how the group approaches diversification and what industries you are involved in today?

Evolution and diversification has always been a part of our strategy. We began with agriculture, trading and banking, but as Cyprus developed, we expanded into new sectors like construction, energy, hotels, tourism, shipping and entertainment. Today, we have a broad portfolio that includes companies such as Cybarco, which is one of Cyprus’ leading property developers and construction companies, and Amathus, a major player in hospitality and travel. In the sector of leisure and entertainment we have companies like Carob Mill Restaurants and Fasouri Waterpark. We also are one of the initiators and major shareholders in Limassol Marina, which has become an iconic part of the city. Also, Lanitis Group developed Aphrodite Hills the first integrated golf resort in Cyprus and now we are developing Limassol Greens Golf Resort, the first city golf resort on the island. By being open to opportunities in different industries, we have been able to keep the business evolving.

The central office of Lanitis Group. Photo: Successful Business

How do you decide which industries to enter? What factors influence these decisions?

We look at a combination of factors: market trends, the potential for growth, and how the industry aligns with our values and long-term vision. For example, we have moved into renewable energy with companies like Lanitis Energy and Conercon Energy Solutions because we see sustainability as a key part of the future. We also believe in adding value to the local community, so when we invest in a sector, we think about how it will benefit not just the company but Cyprus as a whole.

The Lanitis Group operates in diverse sectors, including shipping, farming, and the restaurant business. Could you tell us more about these areas and how they contribute to the group’s overall success?

Our involvement in shipping is longstanding. Through Amathus, we manage logistics, warehousing, and we are also involved in ship-owning. This sector remains a vital part of our business as it supports not only transportation but also trade, which is key for Cyprus as an island nation.

As for farming, our Lanitis Farm in Fasouri holds 2.9 million square metres of land, and while traditional farming has become less viable, we are transforming this land into high-value projects. One such project is the Limassol Greens Golf Resort, which combines residential, leisure, and golfing elements. This is a strategic development for us, focusing on creating a unique lifestyle experience.

In the restaurant and entertainment sector, we own Carob Mill Restaurants, which manages a number of successful venues in Limassol, as well as Fasouri Watermania, one of the most popular waterparks in Cyprus. We have also expanded into the international coffee market through the acquisition of Gloria Jean’s Coffees chain in Cyprus. These ventures not only diversify our portfolio but also create lasting experiences for the community.

In addition to real estate, the group has also made significant investments in the energy sector. Can you tell us more about those efforts?

Absolutely. We see energy, especially renewable energy, as a critical area for the future. Through Lanitis Energy, we have been investing in photovoltaics and other renewable sources. Conercon Energy Solutions, one of our subsidiaries, is focused on providing energy solutions that are both efficient and environmentally friendly. We are also involved in liquid gas distribution through Lanitis Gas. This shift towards energy is part of our commitment to sustainability and long-term growth.

The Lanitis Group is known not only for its business ventures but also for its corporate social responsibility. Could you tell us more about your approach to giving back to the community?

Giving back has always been an integral part of our family values. It is something that was instilled by our founders and passed down through the generations. In 2001, we formalised this with the establishment of the Evagoras & Kathleen Lanitis Foundation. The foundation is a non-profit organization and focuses on supporting education, health, and culture. For example, we provide scholarships in partnership with local educational institutions and contribute to various cultural events across the island. We believe that a strong business must also contribute to the well-being of its community.

Are there any specific projects that you are particularly proud of in terms of social responsibility?

One of the projects We are most proud of is the Evagorio Hospice, which is a palliative care centre for cancer patients. It is operated by the Anti-Cancer Society of Limassol, but our group contributed significantly to its construction and continues to support it with equipment and resources. Additionally, the Lanitio School and its theatre were built with the support of the Lanitis Group, creating opportunities for education and cultural activities. These projects reflect our commitment to improving the quality of life for the people of Cyprus.

Evagoras Lanitis. Photo: Successful Business

How has the group managed to stay relevant and innovative in such a rapidly changing business environment?

Adaptation has been key to our survival and success. We are constantly looking for new ways to modernise our operations. One area we are focused on right now is digitisation. We are working to integrate digital solutions across all our sectors, from real estate to energy. At the same time, we are investing in new technologies and green energy initiatives. These steps are crucial to ensuring that we remain competitive in an ever-evolving market.

What role does innovation play in the group's future plans?

Innovation is at the heart of our strategy moving forward. We are particularly excited about the potential of green energy and the tech sector. While we have traditionally focused on industries like construction, real estate, tourism, shipping, and hospitality, we see the need to embrace more technological advancements. For instance, we are gradually entering the tech space, though we are doing so cautiously by bringing in the right expertise. We don’t just jump into new industries—we carefully assess how we can contribute and grow sustainably.

Looking ahead, what do you see as the key challenges and opportunities for the Lanitis Group?

One of the key challenges we face is maintaining our balance between tradition and modernisation. We are a company with deep roots, but we also understand the need to stay ahead in a rapidly changing world. The opportunities lie in our ability to innovate and adapt—especially in sectors like green energy and digital transformation. We also have a significant land bank, which presents opportunities for future development, such as our Limassol Greens project, a large-scale residential and leisure development that will unfold over the next decade. This will be a major focus for us moving forward.

Finally, what do you think is the secret to the Lanitis Group’s longevity and success?

I believe the secret lies in our commitment to core values — integrity, reliability, quality and social responsibility. These are the principles that have guided us through five generations. From generation to generation we follow an anthropocentric approach and every decision we make is not only about profitability but also about how it impacts our employees, our partners, and the broader community. We have a strong family culture, but we’ve also embraced the need for professional management and expertise from outside. This balance has allowed us to grow, diversify, and thrive for more than 120 years.