The leading property developer of Cyprus and the Greek Islands Leptos Group launched the construction of Neapolis Smart EcoCity. The Eco City will be located on a 1.1 million sq.m. site in Pafos in the mythical "Aphrodite Gardens". The Neapolis Smart EcoCity is the first project of its kind in the Mediterranean and one of the largest in Europe and anticipated to generate gross development value (GDV) in excess of 2.5 billion euros offering sustainable annual returns to its investors during the 13 year development period. The Leptos Group has 50 years of experience in property development business and success of the project ensured almost 100 per cent. The philosophy of Michael Leptos, founder and executive chairman of the Group, is to execute projects with sophistication, quality and excellence in design whilst remaining conscious of the environment it shares. The Neapolis Smart EcoCity is founded on the concept that superior lifestyle combining healthcare, education, research, residential, retail and business services are inextricably linked with the environment. The project will generate 8000 new jobs by the close of 2018, contributing significantly to the local economy. The first phase of this project, consisting of the innovative smart eco-city infrastructure, the Neapolis Hospital and the Assisted Living Residences is already underway and will cost about 171mln euros.