[citation needed] Ioannou entered the construction and civil engineering business in the late 1960s and ever since has diversified his holdings through numerous areas of international industrial commerce.
Ioannou's core business is construction, with primary focus in the Middle East, North Africa, Greece, and Southeastern Europe.
[citation needed] The Dakis Ioannou Collection over time, has been composed of works by a variety of both established and emerging artists, including: Paweł Althamer, Janine Antoni, Matthew Barney, Ashley Bickerton, Maurizio Cattelan, Paul Chan, Roberto Cuoghi, Marcel Duchamp, Haris Epaminonda, Urs Fischer, Robert Gober, Peter Halley, Jeff Koons, Elad Lassry, Mike Kelley, Joseph Kosuth, Mark Manders, Paul McCarthy, Tim Noble & Sue Webster, Chris Ofili, Charles Ray, Josh Smith, Kiki Smith, Christiana Soulou, Haim Steinbach, Kaari Upson, Andra Ursuta, Kara Walker, Andy Warhol, Andro Wekua, Christopher Wool, and Jakub Julian Ziolkowski.
A notable exhibition took place at New York City's New Museum in 2009 named Skin Fruit: Selections from the Dakis Ioannou Collection.
The DESTE Foundation has organized, in collaboration with the respective institutions, the exhibitions Urs Fischer - False Friends at the Museum of Art and History, Geneva in 2016; Skin Fruit at the New Museum of Contemporary Art, New York in 2010; Dream and Trauma at Kunsthalle Wien, Vienna in 2007; and Translation at the Palais de Tokyo, Paris in 2005.
He is also a supporter of the University of Cyprus, having donated with his family the "Stelios Ioannou" Learning Resource Center, designed by internationally renowned architect Jean Nouvel and due for completion in 2018.
The yacht's exterior was designed by contemporary artist Jeff Koons and was inspired by the iconic WWI naval camouflage, also known as "Razzle Dazzle", featuring bold geometric patterns in contrasting colors.