04.08.2023
The well-known commercial building ERA Korivos in Paphos, which houses the department stores of the ERA group CTC (Siakola), has been in the possession of the property management department of the Bank of Cyprus for the past few years as part of the company’s lending restructuring.
А land plot of 39,000 sq.m., and the area of the building is 13,500 sq.m. It has an additional rate, so it is possible to build another 8000 sq.m.
The property has recently been taken over by the well-known toy chain Jumbo , which is constantly increasing its position in the Cypriot market.
However, it is still unclear if the Greek company intends to proceed with the creation of the new Jumbo at a particular site and when, as it already has a large store in the Kings mall. Avenue Mall . It goes without saying that the ERA Korivos store continues to operate as usual.
The deal is worth more than 10 million euros and shows that there is potential for luxury real estate in the market, as REMU has completed many large transactions in recent years.
