Insider Business New brands for Cyprus at Metropolis Mall

New brands for Cyprus at Metropolis Mall

Larnaca’s Metropolis Mall should be in operation by end of 2020 or April 2021 the latest and will include brands available for the first time in Cyprus, according to general manager Demetris Thoma.

Thoma also said that the very tight construction timetable is feasible because works will be carried out at one level only and can simultaneously take place at two sides.

The owners secured the necessary licences last week with only some procedural issues regarding the road network still pending. Works are set to begin today.

South African development company Acsion Ltd is behind the 40,000 square metre shopping centre whose construction is in the hands of “Iacovou Brothers”.

Acsion Ltd was founded by Greek origin Kyriacos Anastasiades and the Metropolis Mall will be his first investment outside the African country.

Thoma made clear that no delay because of financial issues is anticipated since Acsion Group’s own funds and not a bank loan is behind the project.

The investment is viewed positively with expectations of double-digit returns and this also includes the difference in the exchange rate between the euro and the South African currency.

The general manager believes the location of the shopping centre – near the GSZ stadium – is probably its biggest advantage since it is in a residential area. This means that a significant number of visitors could go there by foot. “It is a positive aspect, a conclusion we have reached from similar developments in South Africa,” he said.

In addition, the construction of roundabouts will make entry and exit from the mall much easier, he added.

 

Read more:

 

https://in-cyprus.com/metropolis-mall-got-the-necessary-licenses/

 

 

 

 

 

 

 

Top Stories

160 new cases of COVID-19 on Friday

The Health Ministry announced 160 new COVID-19 cases on 23 October, out of 4,327 laboratory tests, taking confirmed infections to 3,314. The break-down of new...

Health Ministry insists there is confirmed case among American Center staff

The Health Ministry replied to the denial of the American Medical Center regarding a confirmed case among its staff. In an announcement the Ministry noted...

Health Ministry replies to accusation about delay of the tracing unit

The tracing unit contacts the persons who have tested positive to COVID-19 as soon as it is informed by the relevant laboratories and the...

Professor of Microbiology concerned about asymptomatic patients

Dr Petros Karayiannis, Professor of Microbiology/Molecular Virology at the University of Nicosia Medical School, has expressed concern over the great number of private hospitals,...

30-year-old missing for seven months (PHOTO)

Police are looking for 30-year old NAKITA YASMEEN from the United Kingdom, whose traces have been lost since March 2020. Yasmeen’s disappearance was today...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...