Iacovou Brothers Development Ltd

Iacovou Brothers Development Ltd is a Cyprus-based property development company and a core operating subsidiary of the Iacovou Group, one of the island's foremost building and civil engineering groups. The group traces its origins to 1953, when brothers Eftyhios, Iacovos and Costakis Iacovou formed the Iacovou Group Partnership to undertake earth-moving projects. Over more than six decades the partnership grew into a diversified construction group with operations spanning Cyprus, Greece, the United Kingdom and the Middle East. The group's core business remains construction, carried out by Iacovou Constructions, but it also encompasses development, quarrying and mining, investment and build-operate-transfer (BOT) activities, and production and supply. Iacovou Brothers Development Ltd sits within the development segment, focusing on property development projects that range from high-rise buildings near the coast to other real estate ventures. The group operates through more than 13 operating companies and controls much of its own supply chain, from concrete and asphalt production to aggregates from its quarries. Notable subsidiaries and activities include Iacovou Brothers Quarries Ltd, based in Xylofagou, which supplies aggregates to the Larnaca, Famagusta and Paralimni areas; Iacovou Asphalt, which operates three strategically placed asphalt plants; Unitrak Machinery, a specialist supplier of construction plant and machinery and the authorised distributor for Hitachi Construction Machinery and other brands; and Hellenic Copper Mines, which operates the world's longest continuously producing copper mine at Skouriotissa. The group has also formed strategic alliances in international markets such as Bahrain, Oman and Iraq. Iacovou Brothers Development Ltd itself is a private company, owned by the Iacovou family, and is not listed on any stock exchange. Its headquarters are located at 2 Socratous Street, Larnaca, Cyprus. The company benefits from the group's long-standing reputation for quality, determination and dedication in the construction industry, and it contributes to the group's continued expansion in Cyprus and abroad.

The history of Iacovou Brothers Development Ltd is intertwined with that of the Iacovou Group, which was founded in 1953 by brothers Eftyhios, Iacovos and Costakis Iacovou as the Iacovou Group Partnership. Initially focused on earth-moving projects, the partnership quickly gained a reputation for determination, dedication and high-quality work, allowing it to expand and diversify into other areas of the construction industry. In 1978 and 1979, the group established new independent companies—Iacovou Constructions, Iacovou Concrete, and Iacovou Overseas—each focusing on a specific sector. Iacovou Constructions grew to cover all segments of the construction industry in Cyprus. Over the following decades, the group expanded both locally and internationally, undertaking projects in Cyprus, Greece, the UK and the Middle East. It developed specialisation in innovative construction methods for airport works, bridge and highway construction, and other complex civil engineering jobs. The group also diversified into related activities such as quarrying and mining, production and supply, and investment and BOT projects. Iacovou Brothers Development Ltd emerged as the group's property development arm, responsible for developing real estate projects, including high-rise buildings next to the beach. The group now consists of more than 13 operating companies covering an extensive part of the construction industry and controlling its own supply chain. Notable milestones include the establishment of Iacovou Brothers Quarries Ltd in Xylofagou, which supplies aggregates to the Larnaca, Famagusta and Paralimni areas; the formation of Unitrak Machinery in 1989 as Iacovou Group Trading, which became a specialist supplier of construction plant and machinery and the authorised distributor for Hitachi Construction Machinery and other brands; and the acquisition of Hellenic Copper Mines in 2010 by a Cypriot company, marking a return of the Skouriotissa copper mine to Cypriot ownership after years of overseas control. The group has also formed strategic alliances in Bahrain, Oman and Iraq. Today, Iacovou Brothers Development Ltd continues to operate as a private company within the Iacovou Group, contributing to the group's development activities in Cyprus and abroad.

• 2014

  Unitrak Machinery is highlighted as a specialist supplier and authorised distributor for Hitachi Construction Machinery and other brands.

• 2010

  Hellenic Copper Mines passes into the hands of a Cypriot company, returning the Skouriotissa mine to Cypriot ownership.

• 1989

  Unitrak Machinery is originally formed as Iacovou Group Trading, supplying construction plant and machinery.

• 1979

  Further independent companies are established, focusing on specific industry sectors.

• 1978

  Iacovou Constructions, Iacovou Concrete, and Iacovou Overseas are created as independent companies.

• 1953

  Brothers Eftyhios, Iacovos and Costakis Iacovou form the Iacovou Group Partnership, primarily for earth-moving projects.

Leading property development company within one of Cyprus's foremost construction groups, known for quality and complex civil engineering.

• Property development projects

  Residential and commercial developments, including high-rise buildings next to the beach.

• Civil engineering works

  Airport works, bridge and highway construction, and other complex civil engineering jobs.

1. 1Homepageiacovougroup.com
2. 2The Groupiacovougroup.com
3. 3Unitrakiacovougroup.com
4. 4Hellenic Copper Minesiacovougroup.com
5. 5Wikidatawikidata.org