Larnaca’s first mall to open in time for Christmas 2020

As construction on the new Metropolis Mall in Larnaca, near the general hospital, is moving ahead at a rapid pace, retailers are moving in to grab the best store locations in the first shopping mall for the wider region.

The Euros 60 mln project is picking up speed hoping to push its opening date to before Christmas 2020, for a bite at the lucrative holiday market.

In comments to Stockwatch, a representative of the South African investor Acsion Ltd said that construction work is ahead of schedule, as project leaders Iakovou Bros have already started work on the main building of the mall.

He also said that the company had been in consultation with several local and foreigner businesses, who are eager to have an outlet in the first mall in the broader region of Larnaca and Famagusta.

Companies that have already secured a spot in the Metropolis Mall are the Marks & Spencer, Costa Coffee, Stradivarius, Mango, Intimissimi, Calzedonia and Tezenis.

He added that deals have also been struck with Beauty Line, Holland & Barret, Mac and Inglot. As the representative noted consultations are underway with Alpha Mega and Sklavenitis supermarkets, Coffee Island and Starbucks.

The Metropolis Mall investment, estimated at Euros 60 mln, is being built on land belonging to the Cyprus Church, located behind Larnaca’s military training camp (KEN) and opposite the parking lot of the new GSZ Stadium.

South Africa-based Acsion Group, founded by Cypriot Kyriakos Anastasiades, included in its annual financial report that they have obtained construction permits for the 39,000 sqm shopping centre, which is expected to be completed by the end of 2020.

Metropolis will house over a 100 stores, supermarkets and a cinema with 1,530 parking spaces to facilitate shoppers.

The project will create some 750 jobs during the construction phase, while 1,400 staff are to be permanently employed at the mall when it opens.

Source: The Financial Mirror