Harakis History

Harakis history

In 1933, Mr. Panicos Harakis became a young employee of the Ottoman Bank after excelling in high school. He had paid the school fees with borrowed money that he later paid off with his wages from the Bank.

Via distance learning, he received diplomas in Accounting, Banking, and Law. As a young man, he realized the value of living in the fresh air away from Limassol’s bustling port town and the benefits of buying land situated on hills with beautiful sea views.

In 1936, he created his first realty company after buying his first estate in Agios Ioannis, using borrowed money from his good friend and classmate Gogos Peristianis.

His vision was to create a cottage and an orchard for his family away from the city. Through a successful perforation, he found water of very good drinkable quality which was sold to Limassol residents and became known as “Water by Harakis”. To run the orchard, he hired a family of farmers.

One early morning, Panicos woke up and took a stroll around the orchard when he saw the farmers steal crops and sell them unknowingly to wholesalers at his expense. Panicos decided to cease agriculture produce and, instead, he developed his large field into smaller land plots with water access utilizing the successful water perforation.

He did this in the knowledge that the population of Cyprus was fast growing, as was the demand for homes. Until now the same area in Agios Ioannis is known as the “Harakis Area”. The name “Harakis” was also given to the church of Agios Andreas located in the area.

Today, the company owes its good reputation and respect mostly to Panicos’s patience and honesty exhibited in these early years where he would also offer finance solutions to plot buyers.

Elias Venezis wrote in his book of “Wind” that:

A piece of land is an invaluable present, since it is forever handed down from generation to generation”

From day 1, Harakis offers affordability, location, high quality, and guaranteed title deeds. After Agios Ioannis, Harakis has developed residential plots with full services and infrastructure in the areas of Zakaki, Agia Zoni, Mesa Geitonia, Agios Nikolaos, Germasogeia and Agios Tychonas.

Panthea and Panthea Valley – (Mesa Geitonia and Agios Athanasios)

Panthea was the first big scale project of 650 plots which was outside Limassol city centre bounds. This kickstarted a new lifestyle trend of living on hills, with sea views slightly away from town. More than 500 plots have been sold and more than 200 villas have been built, including prestigious apartment buildings which have sprung up in more recent times utilizing the higher density coefficient now afforded in the area.

Panthea Valley was developed on the landing of Panthea Hill to offer more affordable housing as the area of Panthea over the years became a very prominent area with wealthy residents.


Panorea is another large scale land development that followed Panthea. Close to the popular village of Germasogeia, it has an ideal altitude of 120 meters. Panorea benefits from a naturally forming (moderate) wind tunnel and is always breezy even in the scorching summer heat.

Panorea is considered one of the most beautiful residential areas only 45 minutes from Nicosia and 10 minutes from the city centre of Limassol. It can be accessed from Germasogeia and Agios Athanasios.

The area offers:

  • Very close proximity to the new state of the art Foley’s School (5-minute drive).
  • Land plots with 90% density and 50% coverage. We also offer permitted villas off plan.
  • Quick access to the intercity highway as well as Limassol town and its hotel & tourist districts.
  • Amenities of the village life of Germasogeia with cafes and small taverns.

Other Projects

The company has now expanded its horizons since it has started building (commercial) residential developments in various areas of Limassol:

  • Agios Georgios Kato Polemidia: Four separate blocks of affordable flats with plenty of common gardens.
  • Nova Sports Center: A project consisting of two five-a-side minifootball pitches conveniently located right after the Panthea exit of Mesa Geitonia roundabout.
  • HARA ELITE HOME Germasogia: Within a close proximity to the coastal road overlooking the sea, a development of high technical specifications and A++ energy efficiency certification.
  • HARA ZOE RESIDENCES (Hara Zoe I and Hara Zoe II) Agios Athanasios:  Situated on the main road that leads to the city centre and Limassol beach front. Here again, there is a sense of neighbourhood development that is detached from an almost private street where a choice of apartment or villa is offered. The success of this project has promoted a second phase Hara Zoe II expected to commence in 2019.
  • One further development is planned in the historic city centre, named as “33 Makriyianni Boutique Apartments”.  The project is expected to commence at the end of 2018 – start 2019.
  • HARA THEA GARDEN RESIDENCES – A project that will commence very soon in Panthea on the main road of Katina Paxinou Street, with an innovative architectural design of high standards. Project is expected to commence end of 2018.