Among the major construction and development companies in Cyprus, TOFARCO was established in 1977 by Lakis Tofarides with an aim to create a philosophy of its own, which is expressed in one simple phrase “Absolute Consistency”. During its 34 years of life, TOFARCO evolved into one of the most credible land development companies with activities covering all fields of constructions. The projects executed during the 1980s and 1990s set the trend of owner-occupied apartments among Cypriots. Meanwhile, having crossed the borders of Cyprus, the company consists today of six subsidiaries while it has constructed several landmark projects.
1977: Establishment of TOFARCO
1978: Completion of the first building under the name AKAMAS at Akamantos Street (now Ezekias Papaioannou).
1988: Set up of the first subsidiary “Forte Trading Ltd” importing specialised building material, such as heating and air-conditioning piping insulation systems. Moreover, the company imports polyethylene manholes and inspection pits, polyethylene septic tanks, polyethylene chemical tanks and water tanks.
1990: Set up of the TOFARCO PROPERTY INVESTMENTS LTD for the management of the real estate property owned by the Group and its customers.
1991: Completion of the EVAGORAS COMPLEX, the biggest at the time private project in the capital, located at Evagorou Avenue in the centre of Nicosia. The Complex includes two buildings with exhibition, office and residential areas of 10.000 square meters and the first multi-storey underground car park covering a total area of 7.500 square meters. Set up of CPC PARKING LTD to manage this pioneer area and to construct similar areas in the centre of Nicosia.
1998: Set up of TOFARCO (HELLAS) Construction – Technical – Real Estate Company aiming to expand the Group’s activities in the Greek territory. Its main principle being to offer the best possible service to its customers, the company chooses with strict criteria land plots in selected residential areas of Athens. In early 2009, the company completed its most recent project in Kastri, which comprised three buildings with apartments and maisonettes
2001: TOFARCO acquires plots of 50.000 square meters in the region of the new GSP stadium with an aim to create a luxurious residential project under the name FILOTHEA. According to land plot planning, the boundaries are readjusted in order to make plots bigger. The company undertakes the afforestation of all public green lands and sets restrictions on the urban regulations for the further improvement of the region.
2004: TOFARCO (ROMANIA) SRL is established with head offices in Bucharest. The Group invests in real estates in Bucharest in order to manage and exploit them.
2007: The Syrian Government issues an international call for tenders for the creation of an ambitious project regarding the development into an exclusive tourist destination of a region covering 13 square kilometers in Latakia. TOFARCO, in cooperation with big consulting firms and tourism organizations in Cyprus and abroad, receives the highest score in the call for tenders. At present, the Syrian Government draws the technical and financial conditions of the project before its assignment to the final contractor.
2008: The company acquires the most central building plot in the Aglantzia and plans to construct the biggest private project in the region with exhibition areas, offices and apartments. The project LEOFOROS is located at Aglantzia Avenue and includes 200 public parking spaces to relieve the parking problem in the region. The target is to reform the centre of Aglantzia and develop it to a modern trade and shopping centre.
2009: The construction of the building JASON at Grivas Digenis Street in the centre of Nicosia begins. The building is the first trade building in Nicosia constructed with the innovative method of geothermal energy conversion to save energy.
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