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Cyprus

Cypriot tycoon will pay for president’s use of private jet

By Angelos Anastasiou

Chris Lazari, a Cypriot property mogul who lives and works in the UK, will assume the cost for the use of a private jet by President Nicos Anastasiades, when this is considered necessary.

In a written statement, Lazari said:  “Taking into account the economic situation of my country and wanting to actively express my support to the efforts of my personal friend President Anastasiades – who has to travel abroad frequently – I decided to assume the cost for the use of a private airplane, when this is necessary, for example where there is no direct air link with Cyprus.”

Lazari adds that he and Anastasiades had been friends for decades and noted that friendship was the only motive for his decision, within the framework of his desire to actively support Anastasiades` efforts.

He concluded the statement by noting that all his business activities were in the UK.

Anastasiades thanked Lazaris for his gesture. In a written statement, he extended his “warmest thanks” and assured everyone that the gift would not be misused.

“I would like to thank my great friend Chris Lazari for his noble gesture and his selfless support to the government’s efforts, as well as his own, for our country’s best interest,” Anastasiades said.

“I would like to assure that use of this facility will be made in a completely sensible manner.”

Lazari left his home village of Dora, Limassol, in 1962 at the age of 16 in search of a better future in London. Armed with £20 and hefty doses of ambition, he became involved in the fashion business before making his first steps in property dealing.

“In my early twenties I began investing in small properties to secure my young family’s financial position with money I earned from my involvement in the fashion business,” he said in his acceptance speech for a lifetime achievement award he was given in 2012.

“I was very ambitious and very hard working and I believe it was these qualities and my real love of the property business which drove me on to build a large property portfolio. Sir Winston Churchill said ‘However beautiful the strategy, you should occasionally look at the results.’ I often consider the results.”

Lazari’s current property portfolio stands at roughly £2 billion.

 

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