My Mall Limassol is moving ahead with an expansion plan worth over €60 million, while Leptos Estates’ residential development Limassol Park is nearing key delivery dates, according to reports that emerged this week.

The My Mall project will be carried out in three phases in the rapidly developing casino-resort area in western Limassol and is expected to include a 12-storey residential building.

In statements to the Limassol Chamber of Commerce & Industry’s (Evel), My Mall director Andreas Hadjimitsis pointed out that the first phase is already under way, covering a 2,500 square metre area south of the shopping centre.

This will house new Zara and Zara Home stores, based on the brands’ latest European concept.

The works are expected to be completed by the end of June or mid-July.

The second phase is expected to involve a residential building of 7,000 to 10,000 square metres, likely to include around 100 apartments.

A preliminary question has already been submitted to the town planning department to determine what type of development can be licensed.

“It’s 99 per cent certain it will be residential,” Hadjimitsis said, adding that the final decision will be made by the board of owners in the next 15 days.

This phase will also be located south of the mall, near the first roundabout leading to the casino.

The third phase concerns a 10,000 square metres expansion of the shopping centre towards the northwest. Applications for planning permits have already been submitted, and architectural plans are ready, according to the CEO.

The investment for the second and third phases is estimated at €40 million, while the first phase, involving Zara and the shopping centre, is expected to exceed €20 million.

Meanwhile, Limassol Park, the new residential development by Leptos Estates, is progressing. Phase A – which includes blocks A, B, C and D – is expected to be delivered in 2025.

Construction is ongoing on Phase B (blocks E, F, G and H), with full completion targeted for 2027.

According to Leptos Estates, demand for the apartments remains strong, particularly for two- and three-bedroom units, which are popular with families and professionals looking for modern living close to the city centre.

While interest from buyers in Europe, the Middle East and Asia remains high, the company said local demand is also significant.

Many Cypriot families and professionals working in Limassol are opting for the development due to its mix of tranquillity, safety and proximity to urban amenities.

According to Leptos Estates, “Limassol Park is evolving into one of the city’s most emblematic residential projects, combining luxury, natural surroundings and modern amenities, while contributing to the dynamic development of the wider area.”