The owners of Nicosia Mall are gearing up for a Limassol expansion, having already filed a building permit application for a new shopping centre in the commercial zone of Ayios Athanasios, adjacent to Jumbo.
In collaboration with the Papantoniou Group, their latest venture aims to construct an impressive three-floor mall housing 105 stores.
The diverse array of shops within the new mall will range from clothing outlets to cutting-edge tech gadget stores.
A food and entertainment court, complete with a cinema complex and a playground, will be incorporated.
Situated within the Commercial and Industrial zone next to Jumbo, within the Municipality of Agios Athanasios administrative boundaries, the modern shopping centre will be developed on plots of land strategically distant from residential zones, ensuring minimal disruption to residents.
Construction of the new mall is slated to commence in the second half of 2024, following the submission of the building permit application by the Nicosia Mall owners earlier in the current year.
All requisite studies, encompassing architectural, environmental, traffic, and commercial impact assessments, have been diligently presented to the relevant authorities.
The anticipated investment cost is around €120 mln, with the project expected to create approximately 1,000 new jobs upon completion.
This significant undertaking is poised to contribute to the local economy substantially.
Notably, Nicosia Mall is a Cypriot-owned entity, with key local business groups such as Zorbas, PHC, Athienitis, and VLM actively participating in its operation.