The founder of the Group was Panagis Sykas from Lania, who settled in Limassol at the end of the Οttoman occupation of the Island, his main business being the trading of foodstuffs. In 1896 his two sons, Nicolas P. Lanitis and Costas P. Lanitis established a business partnership, namely N.P. Lanitis Co. Ltd., which eventually became the back bone of the Lanitis Group. Today, N.P. Lanitis Ltd is a private equity investment company with a large diversified portfolio.
In 1901 together with other Limassolians they set up the Popular Savings Bank of Limassol.
In 1933 Costas P. Lanitis buys agricultural land at the Villages of Alectora and Kouklia, part of which is today Aphrodite Hills. In 1936 Nicolas P. Lanitis creates what it is today Lanitis Farm, consisting of 980 acres, part of which is today Fasouri Watermania Waterpark. In 1944 Amathus Navigation Ltd is established followed by Cybarco Ltd in 1945. In 1952 Lanitis N. & E. Estates Ltd was registered, to be renamed later to Lanitis E.C. Holdings Ltd, which is the holding company of the Group and owners of rural and urban property. In 1990 Lanitis Development Ltd was established followed in 1998 by Heaven's Garden Waterpark Ltd and in 2001 by Evagoras & Kathleen Lanitis Foundation, a non-profit organisation which was set up in the memory of Evagoras Lanitis organising and sponsoring cultural and educational events. In 2002 Aphrodite Hills was inaugurated, followed by Limassol Marina in 2008. In 2011 Lanitis Green Energy Group (now Lanitis Energy Ltd) was formulated and in 2012 the license for Limassol Greens Golf Resort was granted.
Apart from the above companies, the Lanitis Group participates in the shareholding of other companies as well.
The Lanitis Group became stronger over the years under the dynamic leadership of the late Evagoras Lanitis, also known for his humanitarian and social contributions, especially in the areas of education, archaeology, health and sports. After his death in 1992, his sons Platon, Costas and Marios took over the management of the Group, with Mr. Platon Lanitis becoming its Chairman.