85 years of excellence
Our History
Successful for over six decades, the Group was established in 1940 by Nikos Karantokis, who founded Medcon Construction in 1956, setting the strongest of foundations for today’s multifaceted reality.
1940
Group was established
Successful for over six decades, the Group was established in 1940 by Nikos Karantokis, who founded Medcon Construction in 1956, setting the strongest of foundations for today’s multifaceted reality.
A present made up of involvement in many economic fields, including construction, land development and property management, hospitality, waste management and biological (organic) farming.
1944 - 1974
Construction
The early years: Second World War, Cyprus Independence and the Turkish Invasion (1944 – 1974)
During the 1940s, when Cyprus was still a colony, Nikos Karantokis took up construction projects for the British army. In 1956 that materialised into an organised entity, Medcon Construction and following the declaration of the Republic of Cyprus in 1960, he undertook large scale state projects, such as the Lefkara dam, the Nicosia-Kyrenia main road, running through Klepini, expanding the Nicosia airport runway, building the Moni power station and the Limassol pier.
1974 - 2000
The post-1974 era and Dubai
The 1974 tragedy froze construction in Cyprus and Nikos Karantokis steered Medcon towards UAE (Dubai). Al Naboodah Medcon was established in a joint venture with a local company, undertaking a number of large scale projects from 1975 through to 1986, including Deira Tower, Nakhali Tower, the Dubai-Abu Dhabi highway, extending the Dubai airport runway and the Jebel Ali highway.
As the situation in Cyprus stabilised, Medcon could not stay away from contributing to the country’s growth and recovery and returned to the island, renewed, dynamic and with valuable added experience.
The company built the Kalavasos and Asprokremmos dams, the Nicosia-Limassol highway and the Limassol bypass, three significant works of demanding technical expertise. Major construction works include the Limassol General Hospital, the Sunwing hotel in Ayia Napa, Churchill Limassol, Medcon tower and the Ayia Paraskevi building in Nicosia, the Eden Beach Hotel and Apartments in Limassol.
2000 - 2022
Modern times
Nikos Karantokis handed over the baton to his daughter Demetra in 1995, who took over as President of the Group. Under her leadership, Medcon continued on its successful path of noteworthy projects, such as the vertical port road in Limassol, the Rizoelia, Strovolos and Ayios Athanasios flyovers and the Ayia Napa and Paralimni roundabouts. The Group also constructed more than 50% of the Limassol Sewerage System 5th phase and the Zygi Fishing Shelter.
Major construction works include Evelina Court in Nicosia, the Crowne Plaza Limassol hotel renovation and expansion, the expansion of the Caterways factory and the study, construction and operation of the Limassol District waste management facilities.
In all, Medcon has completed over 750 projects.
2021
Land development and property management
The company has developed and manages the Karantokis Tower (Nicosia), Medcon Tower (Nicosia), Karantokis Building (Nicosia) and Eden Beach (Limassol).