Companies from Greece and Cyprus are showing interest in building Neo Plaza, a price-slashing outlet mall in west Nicosia.
The blueprints for the open-air shopping centre, which will also function as a recreation complex, have been completed according to Kathimerini Cyprus.
In the next following days, a public tender will be announced in search of a contractor who can build the outlet mall from the ground up in a period expected to last nine months, according to reports.
The Neo Plaza, the first of its kind in Cyprus, will be a premium commercial centre built very close to the industrial area in Kokkinotrimithia. The Neo Plaza, the first of its kind in Cyprus, will be a premium commercial centre built very close to the industrial area in Kokkinotrimithia. It is expected to host 45-50 retail unites with six food and beverage locations on a 35,000 square metre land area.
The development will be constructed according to Cypriot architectural traditions and will host a recreational park for events, a playground, an arts and crafts section, and ten pavilions for guests. About 5000 square metres will be dedicated to nature, according to reports.
Outlet malls are traditionally known for cheaper prices due to excess inventory and off-season goods, which retailers are not able to sell at regular stores for a variety of reasons. These commercial strip malls are also a fun place to hang out during good weather, with plenty of outdoor places to sit and enjoy the sun, enjoy a smoothie or hot beverage, and look around for the best deals.
The Neo Plaza is said to be able to offer clothing items and brands sold at a discount ranging from 30 to 70 per cent, while experts said the complex was not expected to work in direct competition with the newly opened Nicosia Mall in the area.
The "Neo Plaza Outlet Village" is expected to open in 2020.