The Council of Ministers proceeded on Thursday with the licensing of "Limassol Mall," following a lengthy process of discussion, consultation and considerable public pushback. According to a report by InBusinessNews, the Cabinet put an end to the "battle" under way between two consortiums over two proposed malls in the same area, just 300 metres apart, licensing one and rejecting the other application. As a result of this decision, Limassol will gain a new mall in the coming years, despite substantial objections raised on several fronts, chiefly over the traffic chaos already affecting the area and complaints from shopkeepers across the city over what they described as the "killing" of trade throughout Limassol.
According to Politis's information, a decisive factor in granting the green light, by way of derogation, which falls within the Cabinet's authority, was the fact that planning for the local plan governing Agios Athanasios Avenue, which borders the development, has only recently been presented and moved forward decisively. This development appears to have significantly changed the picture for traffic in the area, although there is still no specific timeline for carrying out the works, which have long been one of the main priorities of the Municipality of Amathounta, and previously of the Municipality of Agios Athanasios, but had failed to move forward.
The players
Limassol Mall is planned to be built by the Papantoniou Group together with the consortium of Cypriot companies that own Nicosia Mall, which includes business groups such as the Zorpas Group, PHC Group, Athienitis Group and VLM Group. The plans concern licensed plots of land at the entrance to the Agios Athanasios industrial area, next to Jumbo. A decisive factor in licensing this development over the other was that a large part of the land falls within a commercial zone and borders the Agios Athanasios industrial area.
The other proposal, which did not receive the green light, concerned a mall under the commercial name "The Mall of Limassol," owned by Atterbury Europe, to be located within the Municipality of Limassol, on the geographical boundary of the Municipality of Amathounta, on a plot bordering Spyrou Kyprianou Avenue. Atterbury Europe is the company behind "Mall of Cyprus" and "Mall of Engomi," and is backed by an investment fund from South Africa.
What it will include
According to various studies published so far, "Limassol Mall" will have an underground level, a ground floor, a mezzanine and two further floors, with a total leasable area of around 28,434 square metres, while the development's total covered space will come to 76,392 square metres, including the underground car park.
Limassol Mall is planned to house around 90 retail units, six large kiosks, two restaurants and two cafés, along with a large food court area with a further seven restaurants seating 500 people in total. There will also be a five-screen cinema, an electronic games arcade, 1,270 parking spaces, and all necessary supporting and auxiliary facilities. The project will have two underground levels, two floors and an additional mezzanine. Some significant changes have been made during the licensing process, which are expected to be presented in the coming period.
