Cybarco Group

Company profile

Cybarco is a member of the Lanitis Group of Companies, which is one of the oldest and wide ranging groups of companies in Cyprus.

Cybarco was founded in 1945 and now operates in five countries, thereby setting up a group of companies of its own.

Cybarco Group began its Hellenic operations in 1994 by locating in Athens and operating under the name of Cybarco (Hellas) SA. Cybarco Group has opted for a more expansive policy after the initial period of penetration into the Greek property market, since it has taken the strategic decision to move its headquarters to Athens.

Initially, the company followed a conservative approach, banking on the strength of its brand name in Cyprus and the fact that it is well trusted by Cypriots. As a result, its development policy satisfied the requirements of the Greek market but also lay within the purchasing power of Cypriots.

Hence, the company developed two residential buildings at Voula (an upcoming southern suburb of Athens), two residential buildings at Ampelokipi (central Athens), two residential buildings at Lycabetus (central Athens), one residential building at Ag. Paraskevi (a northeastern middle-class suburb of Athens) and one at Holargos (a suburb next to Ag. Paraskevi), i.e. a total of 116 residential flats.

Although the company used its clout with the Cypriot market as a tool, it also paid attention to more demanding segments of the local market. As a result, it developed two residential projects in high-end areas: one at Vouliagmeni on the western coast of Attica and one at the traditionally posh centre of Athens -- Kolonaki.

The know-how of the company, its long experience in various types of property development and its international sales network placed it in a sought after position in strategic alliances. Hence, it entered into two joint venture projects with C.I. Sarantopoulos: an 8,800 m2 building in the heart of Athens (Vassilissis Sophias Avenue, Kolonaki) and a 77 holiday home development at Sounio on the South-East Attica coast.

The decision of Cybarco Group to relocate its headquarters to Athens shows that the Group believes in the economic potential and prospects of Greece as they relate to Greece itself but also to the Balkan peninsula, Eastern Europe and the Eastern Mediterranean.

The Group has placed at the centre of its strategy the formation of joint ventures with other companies in the property development sector and with companies or individuals who are big land owners. The Group not only has the experience and know-how in property development but also has the culture and ethos which are the cornerstone for honourable and successful partnerships.

Another strategic choice of the Group has been the decision to play an important role in the construction sector in Greece. Therefore, it recently split into two companies: Cybarco Real Estate Development SA and Cybarco Contracting (ATE).

Cybarco Contracting bought three existing contracting companies (VENT, Diagonios and Gilma), thereby securing securing a 6th-class license to tender for Public Works (projects of up to approximately EUR 60 million). The Group's contracting operation began at the Athens International Airport (Eleftherios Venizelos, Spata) in a joint venture with Technical Olympic and two other companies, where Cybarco had the laying of the runways under its management. The operation expanded with the refurbishment of Laiki Bank's buildings and branches. The most challenging project undertaken so far has been the refurbishment and renovation of the Rodian Beach Resort at Rhodes, carried out in the record time of four months.

Cybarco Contracting (ATE) is currently involved in some of the Olympic Games projects and various other private projects and is set to play a major role in the construction sector in the coming years.

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