Chris Lazari

Christos Lazari (May 1946 – 27 July 2015) was a Cyprus-born British billionaire property developer.

Chris Lazari
BornMay 1946
Dora, Cyprus
Died (aged 69)
North London, England
NationalityBritish
OccupationProperty developer
Net worth£1.777 billion (May 2016)[1]
$2 billion[2]
Spouse(s)Maritsa Lazari
Children3

Early life

Chris Lazari was born in Dora, Cyprus,[3] the son of a builder.[4] In 1962, he emigrated to England.[5] At the time, he was 16 years old. The event was prompted by the discovery that his parents were in fact his foster family.[3] According to Lazari, "I was in my third year at the Lanition Gymnasium of Limassol. I boarded the MV Messapia and sailed to England."[3] He left Cyprus with just £20.[4]

Career

With money he saved from washing dishes and working as a waiter, Lazari studied fashion design in London[4] and set up the Drendie Girl clothing label, which successfully sold in London's high-street retailers.[2][4] In 1978, using the profits from his fashion business, he moved into property. "My father was a builder and I was taught the value of real estate from a very early age."[4]

In 2002, it was reported that Lazari owned commercial and residential property in London's Mayfair and Baker Street, as well as two acres (0.81 ha) along Tottenham Court Road.[6]

His company Lazari Investments owned 2.5 million sq ft (230,000 m2) of London property as of 2015, most of which were offices.[2] Six estates formed 92% of the property portfolio, all in the prime West End of London with a seventh property in north London. The most recent acquisition was the Brunswick Centre, purchased for £135 million in 2014, bringing 45 retail shops, a cinema and 408 flats.[4]

In 2012 Lazari stated, "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."[5] In May 2014, The Sunday Times estimated his net worth at £1.104 billion.[1]

Personal life

Lazari and his wife Maritsa had three children and lived in Hampstead, London.[2][7] His wife Maritza is listed as a co-founder of Lazari Investments, and their three children, Len, Nicholas and Andrie are all directors. The two sons have economics degrees, and Andrie has a property law background.[4]

The president of Cyprus, Nicos Anastasiades, is a former schoolmate and a close friend.[2] In 2014, Lazari said that if Anastasiades ever needed to use a private jet, then he would pay for it.[5]

Lazari died on 27 July 2015 at his home in north London of a heart attack.[8]

References
  1. "The Rich List". Sunday Times (page 24). 18 May 2014.
  2. "Christos Lazari". Forbes. Retrieved 21 March 2015.
  3. "The tycoon with a work ethic". Greek Rich List. 1 September 1010. Archived from the original on 29 September 2014. Retrieved 21 March 2015.
  4. Sorvino, Chloe (5 March 2015). "Rags To Riches: Cyprus Emigrant Builds A Fortune In London Real Estate". Forbes. Retrieved 26 March 2015.
  5. Anastasiou, Angelos (13 June 2014). "Cypriot tycoon will pay for president's use of private jet". Cyprus Mail. Retrieved 21 March 2015.
  6. McConnell, Sara (2 April 2002). "Who owns London". Evening Standard. Retrieved 21 March 2015.
  7. Walsh, Conal (30 April 2006). "Down on Billionaire's Row..." The Guardian. Retrieved 21 March 2015.
  8. "Cypriot billionaire Chris Lazari dies aged 69". Cyprus Mail.
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