Corporate Profile
Woolworth (Cyprus) Properties Plc is one of the largest property holding and development companies in Cyprus, with main focus on the retail and commercial real estate sector. The value of its property portfolio is about €0,5 billion.
The property assets of Woolworth (Cyprus) Properties Plc include Shopping Malls, Department Stores and other shops all located at prime locations throughout Cyprus. The flagship property of the Group is the Shacolas Emporium Park, a multifunctional retail and entertainment park with GLA of about 55.000 square meters, in a prime location, right at the entrance of Nicosia, which includes the Shopping Mall “The Mall of Cyprus”, an IKEA Store, of the well known Swedish furniture chain and other retail, entertainment and cultural developments.
The Department Stores buildings are licensed to Ermes Department Stores Plc, also a Shacolas Group company, which operates them under the “Debenhams” Department Stores brand. Also many of the other properties owned by Woolworth are leased to Ermes Department Stores Plc operating many of the brands it owns/represents (e.g. Next, Peacocks, Zako, Super Home Center DIY etc.)
Woolworth’s real estate assets include other property which has not yet been developed or is at development stage. This includes the part ownership of a large piece of land at the entrance of Nicosia (Lakkos Mikelli) and also a significant holding in Cyprus Limni Resorts & GolfCourses Plc, a company that will develop a premium integrated mixed use golf resort in Polis Chrysochou area in Pafos.
Woolworth’s investment philosophy and strategy is to draw upon its expertise and develop and utilize the full potential of its freehold property in order to realize fully its value as well as to invest selectively where there are opportunities in its key strategic sector in property development.
Woolworth Group is part of the Shacolas Group of Companies.