Insider Business 46% of MyMall Limassol to change hands

46% of MyMall Limassol to change hands

It is highly possible that 46% of shareholding of MyMall Limassol will change hands within the next couple of months. Because BSR Europe – the Israeli-interests company controlling that stake – is now under administration.

And the Israeli law office which acts as special administrator has already proceeded with the sale of the company’s assets – including the stake in the Limassol mall.

Insider has information that keen interest over those shares has been expressed by both foreign and Cypriot groups and that the process is at an advanced stage. In fact, negotiations are based on the evaluation that 100% of the shopping mall is estimated at €90-95 million.

If all goes according to plan, then the deal will soon be sealed, according to insiders. The Mall’s other major shareholder is Cypriot businessman Andreas Hadjimitsis.

The sale process does not affect in any way the Mall’s operation or its planned expansion by 6,000 square metres. The expansion of the shopping mall which, since its opening to the public in mid-2009 has been highly successful, is set to begin in the coming months.

MyMall Limassol offers a total of net leasable retail area of 28,853 Sq.m and 1,600 surface parking places. Total gross built and covered area is approximately 40,000 Sq.m. and the property sits on a site of 108,145 Sq.m. It now accommodates 115 shops and 17 dining places and cafes.

The Mall’s visitors are estimated to be over five million by now, while the turnover of the stores it hosts is approximately €85 million.

MyMall Limassol is located in the west end of the city, within the Zakaki district.


Read more:



Top Stories

COVID-19: Average age in Cyprus is 31 (tables)

Here are the infographics, by the Ministry of Health, with statistics on the course of the coronavirus until September 17, 2020. The average age...

“Diplomacy now has the floor”, Erdogan says in Twitter post

A 180° turn is observed by Recep Tayyip Erdogan, who, as shown by his recent post on a popular microblogging site, has decided to...

Worldwide coronavirus cases cross 30.55 million, death toll at 951,051

More than 30.55 million people have been reported to be infected by the novel coronavirus globally and 951,051 have died, according to a Reuters...

Man, 28, arrested for possession of cannabis

A man, aged 28, from Limassol, was arrested in Nicosia on Saturday night for possession of approximately one kilo of cannabis, police said on...

UK’s Johnson to levy 10,000 pound fine on COVID-19 rule-breakers

People in England who break new rules requiring them to self-isolate if they have been in contact with someone infected with COVID-19 will face...


Chicken with okra and bulgur wheat

Heat the oil in a pan and sauté the okra until golden. Remove the okra, lay out in an oven tray and sprinkle with...

Swordfish with aubergines

To toast the sesame seeds: place sesame seeds in a small non-stick frying pan over low heat and stir until you begin to smell...


Just a little before serving, heat the broth and add the ravioli. (If the ravioli is frozen you don’t have to defrost). Heat them...

Seafood kebab with avocado salad

Place the mussels, shrimps and salmon in a bowl together with tarragon and lemon zest. Season and cover, keeping in the fridge for 15...