Ambassador from Cyprus
Hey!;)
Today I have something really special for you;) Ambassadors, who are working all around the world helping to promote Peak Time 2009 as I have mentioned before, have a special task. Each of them is supposed to write an article about innovative business in their local area. For this time an article comes from Giorgos Michaelides University of Cyprus. Enjoy;)
The Mall of Cyprus
“It’s a dream come true…which has become a reality after 26 years of planning, hard work, huge investments and most of all vision“.
These are some of the inspiring words of the entrepreneur Mr. Nicos Shacolas at the official launch of operations of the Mall of Cyprus. When asked about the incentives to proceed to a new investment, he said: “The idea came to me while on a visit to Canada where I was impressed by the shopping malls there and after I came back to Cyprus, I started work on the project”.
The Shacolas Group operates mainly through public Companies which are listed on the Cyprus Stock Exchange. Major companies of the Group like Cyprus Trading Corporation Public Limited, Woolworth (Cyprus) Properties Public Limited, Christis Dairies Public Limited, are among the selected list forming the Cyprus FTSE index.
…and from 2007, a new era of investing potentials…The Mall of Cyprus.
The Mall of Cyprus, the first shopping center in Cyprus of international specifications where the customer can combine shopping with leisure, opened in 27 September 2007 and changed the retail trade environment and incorporated many new features. The Mall of Cyprus is part of Shacolas Emporium Park, which also includes the first IKEA of Cyprus which is fully operational since the 6th of September 2007.
Mall of Cyprus General Manager said the project took three years to complete and incorporates state of the art systems and is environmental friendly. When asked about the cost of this investment, he said: “The Mall of Cyprus cost the Group 100 million euros in investments in addition to the land, which was financed through the German Eurohypo Bank and by own funds committed by the Shacolas Group”.
This unique mall with so many shopping options will make your head spin. It is the flagship of the Shacolas Emporium Park spanning an area of 27.000 sq. metres, which houses a pretty diverse selection of 31 shops, ten cafés and fast food restaurants, five cinema screens, a children’s playing ground and parking space for 1,500 cars, of which 1,100 are covered. The Mall of Cyprus also houses the first Carrefour store to open in Nicosia. It’s great that you can do a lot of shopping all in one place. In addition you can spend the whole day in there when it’s raining outside and being carefree about the bad weather.
The shops within the mall operate the same working hours according to the relevant legislation in place but the cafes, restaurants and cinemas are open from 9am until 1am. These include Debenhams and Next, Carrefour, Zara and Zara Home, Bershka, Pull & Bear, Mango, Intersport (Fourlis), Public, Early Learning Centre, kiosks and speciality shops, as well as upscale national chains like… Lacoste, Cortefiel, Nine West, Massimo Dutti etc. This is to say that it offers to the consumer a range, where you can get great designer pieces or you can find more funky things - sport clothing and products- , electronics – from music instruments to personal computers -, home appliances, furniture, supermarket products and educational products for all ages.
And at last… when you are done with shopping you can satisfy your appetite by choosing to dine in one from the wide variety of stylish or fast food restaurants such as TGI Friday’s, Chopsticks, Pizza Hut, McDonalds, KFC etc. or have a break for a coffee at Starbucks, or even…both!!
“Every effort is being made to convince the authorities to agree to extended shopping hours for the benefit of consumers, who will want to enjoy the Mall of Cyprus experience” according to Mr. Shacolas. This strategic combination of operations – a variety of products and services – led Mall become one of the most attractive destinations for Cypriot and foreign consumers of all ages not only for shopping – food and clothing - but also for recreational purposes. Moreover, targeting all age groups widened the range of consumers visiting the Mall daily, for several purposes, and by this way promoting the creation of potential buyers-clients for all the firms operating under the Mall “umbrella”.
As Mr. Shacolas said, “The Mall of Cyprus created value for the local area, for the city of Nicosia and for the whole of Cyprus” and we would add, that the last chapter of Innovative investments initiatives is far from written.
Thanks for George and Anna from Cyprus!
Go home!