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Nicosia Mall

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Nicosia Mall
Logo
Inside view of Nicosia Mall
LocationNicosia, Cyprus
Address2 Madrid Street, 2306 Nicosia, Cyprus.
Opening dateNovember 21, 2018
DeveloperNicosia Malls Properties (NMP) Ltd.
No. of stores and services140+
Total retail floor area82,000 square metres (880,000 sq ft)
No. of floors3 (UG, GF, 1)
Parking1,700 spots
Public transit accessBus interchange N1  16  400  405  NICOSIA MALL
Websitehttps://nicosiamall.com

Nicosia Mall is a shopping mall located in the Lakatamia-Anthoupolis area, southwest of the centre of Nicosia, capital of Cyprus. It opened in November 2018 and is the largest mall in Cyprus.

History

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Plans for the mall were announced in 2010.[1] Construction of the mall began in 2011 but work was suspended during an economic crisis in 2013. In 2017, Bank of Cyprus supported a €25 million refinancing and restructuring of the Nicosia Mall development, becoming a shareholder in the parent company, NCMH Nicosia Mall Holdings Ltd.[2][3] The move helped construction resume in 2017, and the project was then completed in 14 months. After it opened on 21 November 2018,[4][5] it averaged 407,000 visitors a month (3.7 million in total) in the first eight months of 2019.[6] In late 2019, Bank of Cyprus sold its 64% stake in the Nicosia Mall for around €96m to buyers including retailers with stores in the mall.[2]

In early 2020, during the COVID-19 pandemic in Cyprus, Nicosia Mall closed all its stores apart from the Athienitis supermarket,[7] though some stores later operated 'pick-up' services allowing customers to collect online or telephone orders.[8] All shopping malls were closed during the 2020 Christmas period,[9] finally reopening in February 2021.[10]

Facilities

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The Mall has a total floor area of 82,000 m2 (880,000 sq ft), making it the largest mall in Cyprus;[11] it is also the largest in terms of number of outlets.[12] It has 48,000 m2 (520,000 sq ft) of retail space provided by around 140 outlets ranged over three floor levels, with mostly underground parking for 1,700 cars.[4][11] It also houses a food market and a six-screen Rio Premier cinema[4] which also offers open air cinema screenings.

Transport access

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Nicosia Mall is situated on the south side of the A9 motorway, northwest of the Anthoupoli interchange. It is connected to the city via four bus routes.[13]

See also

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References

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  1. ^ Howarth, Nigel (2 December 2010). "Plans for new shopping malls in Cyprus". Cyprus Property News. Retrieved 17 August 2022.
  2. ^ a b "Bank of Cyprus sells Nicosia Mall". Cyprus Mail (Press release). 22 August 2019. Retrieved 18 August 2022.
  3. ^ "Ashurst advises Bank of Cyprus on refinancing and restructuring of Nicosia Mall (6 October 2017)". Ashurst (Press release). Retrieved 18 August 2022.
  4. ^ a b c Turner, Katy (20 November 2018). "New Nicosia mall to welcome the crowds". Cyprus Mail. Retrieved 17 August 2022.
  5. ^ "Doors open at Nicosia Mall". e-kathimerini.com. 21 November 2018. Retrieved 17 August 2022.
  6. ^ "CYPRUS: Nicosia Mall clocks up 3.7 mln visitors in first 8 months". Financial Mirror. 5 August 2019. Retrieved 17 August 2022.
  7. ^ Shkurko, Jonathan (16 March 2020). "Coronavirus: Nicosia Mall closed with the exception of Athienitis supermarket". Cyprus Mail. Retrieved 17 August 2022.
  8. ^ Theodoulou, Nick (11 December 2020). "Coronavirus: shopping malls say unfairly targeted, state creating economic hardship". Cyprus Mail. Retrieved 17 August 2022.
  9. ^ Agapiou, Gina (14 January 2021). "Coronavirus: MPs not satisfied with reason given for closing malls before Christmas". Cyprus Mail. Retrieved 17 August 2022.
  10. ^ "Coronavirus: Shops slash prices to draw crowds as they re-open". Cyprus Mail. 8 February 2021. Retrieved 17 August 2022.
  11. ^ a b fm (2019-08-21). "CYPRUS: Recently opened Nicosia Mall to change owners". Financial Mirror. Retrieved 2022-08-16.
  12. ^ "The best shopping experience Cyprus has to offer". Scala.Cy. 19 October 2021. Retrieved 21 August 2022.
  13. ^ "Cyprus By Bus". m.cyprusbybus.com. Retrieved 2022-08-16.
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