Contracts have been signed for the refurbishment of Limassol’s municipal market as part of efforts to breathe new life into the area and attract local and foreign visitors.
The plan is for wholesale and retail outlets, as well as restaurants and cafes. Also planned are children’s recreation areas, conference rooms and offices.
The contracts were signed by Limassol Municipality and a joint venture between Alexandrou Corporate Services, AR Consulting and Prosperity Group.
The investors have undertaken to renovate and manage premises of some 3000 square metres, combining traditional and commercial uses such as the sale of traditional products and handicrafts, recreation, catering and cultural events. Their management contract is for 10 years with an option to extend it for another five.
The project should open its doors before the end of 2019.