The Cabinet has given the green light for the construction and operation of the new shopping center, Limassol Mall, but only under strict terms and conditions, particularly addressing potential traffic problems arising from the development's operation.
As InBusinessNews has been informed, before the decision was made, all aspects and parametres related to the new mall were presented to the Cabinet, along with the opinions of all involved bodies - local authorities and competent departments and services of the state -, which were also carefully evaluated by the Council for the Study of Deviations, which came up with a reasoned recommendation and - as it seems - adopted to a large extent the Ministerial position.
According to the same information, among other things, the Department of Public Works, during the examination of the application, has submitted recommendations for specific projects to upgrade the traffic capacity of the road network, which should be carried out before the development is operational.
Based on the same information, among other things, the Department recommends the construction of three roundabouts, the widening of roads around the area where the new mall is planned to be built, as well as upgrading specific photo-controlled intersections with traffic lights.
These are essentially projects that - as the Department of Public Works estimates - will upgrade the traffic capacity of the road network, will not affect the traffic safety of the area and will not burden road traffic to a degree beyond what is reasonably acceptable.
It is noted that in addition to the road works, the Council for the Study of Deviations in its reasoned submission - as InBusinessNews was informed - also lists a series of other terms and conditions, all of which are expected to be communicated to the owners of the new mall soon, so that after evaluating them, they can proceed with the required actions to comply with them, so that the way can finally be opened for the construction works to begin, which are estimated to last at least two years.
Who is behind the new mall?
It is recalled that the Nicosia Mall shareholding group, which, in collaboration with the Papantoniou group, aims to create a modern shopping centre, is behind the new mall planned to be built in Limassol, and more specifically in the Ayios Athanasios area.
It is also worth mentioning that based on the Environmental Impact Assessment Study, which the investors submitted to the Environmental Authority, the cost of the entire project is estimated at €95 million, of which €55 million relates to the construction cost, while €40 million will come from the shopkeepers for the design of their stores.
(Source: InBusinessNews)
