Press Release
The proposed Mall of Limassol is poised to create a premier destination for shopping, dining and entertainment in Limassol. As the project advances through important planning and approval phases, we spoke to Polys Tsiartziazis, onsite Development Manager for the proposed Mall of Limassol, about the latest milestones and the exciting potential this development holds for the community.
Steady progress on approvals: The permitting process for the proposed Mall of Limassol is well advanced, and meaningful progress has been made across all aspects required for a public hearing and subsequent approval processes, which are imminent. The project team has worked diligently to ensure full compliance with the comments and recommendations of the relevant authorities, underscoring Atterbury Europe’s commitment to a transparent and responsible process.
“We are pleased to share that meaningful progress has been made across all aspects of the proposed development, bringing us closer to delivering a much-needed destination for shopping, dining and entertainment in Limassol.”
Progress on the planned timeline execution: With respect to leasing commitments, confirmation of construction milestones, community engagement, and strategic partnerships, every facet of the proposed development is advancing steadily in accordance with the envisaged timeline.
Technical update: On the technical side, the Mall of Limassol’s design has reached a high level of integration and efficiency. Our dedicated team of consultants has coordinated every discipline to meet each milestone with precision and care. With the required planning permission imminent, we are moving swiftly toward obtaining the building permit for the execution of the work.
Fully funded and ready: In July last year, we secured the necessary bank financing from Eurobank Group on agreed terms and conditions. Together with our equity, this means the entire development is fully funded and ready for execution as soon as we are granted the final development rights.
Leasing shows strong demand: Our leasing team has already secured more than 40% of the lettable space in the proposed Mall of Limassol. In fact, on the leasing front, there is greater tenant interest than the remaining space available, demonstrating the strong demand for a modern, vibrant retail destination in Limassol. As our leasing team notes, “We have overwhelming tenant interest even though we have not yet been granted our development rights, which is a clear sign of the demand and that tenants want to secure a space rather than being in a situation where no space is available at a later stage.”
“Our development is fully funded and ready for execution once we are granted the required development rights.”
Several major tenant prospects are under negotiation, positioning the development to be fully pre-let well before its grand opening. Our leasing strategy focuses on creating a diverse, sustainable mix of tenants that aligns with a vision to serve the community for years to come.
With design integration, financing, leasing, and execution planning all advancing rapidly, the proposed Mall of Limassol is closer than ever to becoming a reality. We invite you to join us on this journey to create a premier retail and lifestyle destination that will reshape Limassol’s future.
If you share our vision, please contact our leasing manager, Mrs. Zena Vardaki (+357 99 465884), to learn more about partnership opportunities.
