In the early 1960s, Michael Leptos started the property development business in Kyrenia, Cyprus.

Following the 1974 events in Cyprus, the group's activities were relocated to the Middle East and the Persian Gulf, with an emphasis on constructing major residential developments.

[2] Leptos expanded in the 1980s by purchasing a large area of land from the Bishop of Paphos.

The company opened hotels, developed houses, and operated other businesses in the region.

Later on, it continued its activities in Greece, specifically in the islands of Paros, Santorini, and Crete.