Cyprus is not foreign to Atterbury Europe

To understand and gain more insight into Atterbury Europe’s further investment strategy in Cyprus, we speak with CEO Henk Deist.

Atterbury Europe is a joint venture company, with Pareto Limited (owned by Africa’s largest pension fund) as a significant shareholder. It has a predominantly Eastern European/Mediterranean focus, and allocates capital where the risk/reward pay off profile is best balanced.

“In this regard, our current jurisdictions of Romania, Serbia and Cyprus compete for funding, together with untapped areas with potential, such as Poland and Hungary,” explains CEO Deist. This means, in the first instance, that possible new developments in these territories all vie for investment apportionment.

The proposed Mall of Limassol ticks all the boxes for capital investment. “We are no strangers to Cyprus and have been doing business here since 2015,” Deist continues. The big advantage of Atterbury Europe’s proposed new shopping centre development in Limassol, compared to others, is that it combines years of experience in developing shopping centres all over the world with a strong local professional team of architects, cost consultants, engineers, contractors and leasing professionals.

“We have a proven track record in creating world-class shopping centres, having developed hundreds of thousands of square metres internationally,” Deist says, reflecting on Atterbury’ Europe’s vast experience.

“Our expertise is comprehensive, encompassing design excellence, efficient foot traffic circulation, effective delivery logistics, innovative parking systems, smooth vehicular traffic management, meaningful community engagement and eco-friendly practices.

“By combining this extensive international experience with local market understanding, we offer a powerful and sustainable solution tailored to each location.”

Deist recently attended the annual general meeting of Invest Cyprus. “It is quite different now, compared to when we first invested in the country soon after the ‘deposit haircut’.”

According to the Invest Cyprus annual report, there has been a significant increase in foreign direct investment, especially post the COVID pandemic. Deist believes the trend will continue and Cyprus may benefit from the geopolitical turmoil in Israel, Lebanon and the Ukraine as people relocate there.

“We support and participate in the foreign investors’ dialogue with the Cypriot government, to assist with its vision of making Cyprus one of the best places to work, live and do business in,” he says.