In a bid to create a new, contemporary commercial centre in Limassol, Nicosia Mall is joining forces with the Papantoniou Group, expanding its operations into the most advantageous area in East Limassol.
With three floors, impressive spaces, and approximately 105 stores, the new commercial centre is expected to fill the market gap in the city, catering to the needs of consumers.
Simultaneously, it aims to offer a unique shopping and entertainment experience to the residents of Limassol, much like Nicosia Mall has been doing in Nicosia for the past five years.
The new commercial centre will be erected within the Commercial and Industrial Zone next to Jumbo, within the administrative boundaries of the Municipality of Agios Athanasios, on plots of land that do not directly adjoin residential zones.
The application for urban planning permission has already been submitted since the first half of 2023, and at this stage, all relevant studies (architectural, environmental, traffic, commercial impact) are under review by the competent authorities.
Construction work on the new commercial centre is estimated to commence in the second half of 2024.
The investment cost is expected to reach approximately €120 million, and upon completion of the project, 1,000 new job positions are anticipated to be created.
Nicosia Mall is a company of Cypriot interests, with significant Cypriot business groups participating, such as the Zorba Group, PHC Group, Athienitis Group, and VLM Group.