Nicosia Mall

Last updated
Nicosia Mall
Location Nicosia, Cyprus
Address2 Madrid Street, 2306 Nicosia, Cyprus.
Opening dateNovember 21, 2018
DeveloperNicosia Malls Properties (NMP) Ltd.
No. of stores and services140+
Total retail floor area 82,000 square metres (880,000 sq ft)
No. of floors3 (UG, GF, 1)
Parking1,700 spots
Public transit access Bus-logo.svg  N1  16  400  405  NICOSIA MALL
Website https://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.

Contents

History

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

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

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

  1. ↑ Howarth, Nigel (2 December 2010). "Plans for new shopping malls in Cyprus". Cyprus Property News. Retrieved 17 August 2022.
  2. 1 2 "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. 1 2 3 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. 1 2 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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