Metropolis Mall: Change of plans with the opening in February 2021

Metropolis Mall: Change of plans with the opening in February 2021

The pandemic and the quarterly lockdown slowed down work at the mall  under construction, originally planned to open next November.

 According  to the information, the owner company (Acsion Group) estimates that  under the current data concerning the COVID-19, it will be possible to  open the mall in February. Hence the agreements and construction work  have been wheeled into the base of this schedule. However, if the  pandemic's data adversely overturned, it is not excluded that new  decisions will be open the trade.

According to reports, the whole fluid picture in the retail trade at  the beginning of the pandemic had worried companies, which we're aiming  to join the Metropolis Mall. However, it seems that several potential  tenants' data have changed for the better due to the dynamic resumption  of markets by consumers, which seems to strengthen companies' interest  for their presence in the mall under construction.

Simultaneously, the shopping center's construction works are at an advanced stage, approximately at a rate of 75%.

The construction and the roof have been completed. While several works have been done outside, in the parking lots.

Besides, according to the plans, the shops' delivery to the tenants  will start in October to prepare them in the style of their shops.

According  to information, at a rate of 85%, the Metropolis Mall agreements with  tenants in Cyprus have been concluded, including companies that manage  well-known brands and stores in Cyprus. As is informed, the Acsion Group  has agreed on the presence of a brand that does not have a presence in  Cyprus, while discussions are underway with other such companies  (European and South African). As it turns out, the pandemic has delayed  some companies' plans to land in Cyprus, but it seems that the picture  is slowly changing.

As for the agreements that have already been  finalized, the owner company keeps its papers closed for the tenants'  names and reserves the right to announce them after the completion of  100% of the agreements at the end of November. However, the Metropolis  Mall of the RIO cinema and the Alpha Mega supermarket has become known,  while the presence of telecommunication companies, etc. is considered a  given.

As  far as the food court is concerned, it will include five restaurants,  for four of which the agreements have been closed. Among them are two  catering companies that do not have a presence in Cyprus, while they  come from South Africa, a country where the Acsion Group is based.  However, the presence of both McDonalds and PHC is also taken for  granted. At the food courtthere will also be three cafes.

Although the initial calculation wanted the construction cost to  reach € 65 million, the company's additions to the road network will  increase the budget by 10%. The plan includes the creation of two  roundabouts that will facilitate the arrival of consumers in the mall  and a road that will connect the two streets of the area, Griva Digeni,  and George Christodoulidis. 

 It is noted that the project will be built with equity of the South African Group Acsion and not through bank lending.

With  an area of 39,000 m2, the shopping center will have a total of 138  stores, including a supermarket, cinema, clothing stores, food court,  playgrounds, and 1450 parking spaces.

It is reminded that  the goal of the Acsion Group is the construction and subsequent  management of the shopping center, according to the management model of  other shopping centers abroad.