Cyprus shopping malls increase profits amid rising footfall

Major shopping complexes Mall of Cyprus and Mall of Engomi showed significant growth in financial performance in 2025, despite the challenging economic situation.

According to a report published by the Cyprus Stock Exchange, Mall of Cyprus's net profit after tax reached €19.1 million, nearly doubling compared to €10.5 million in 2024.

Revenue for the period amounted to €19.8 million compared to €19.6 million a year earlier. A substantial contribution to the growth was made by the revaluation of investment property — profit under this indicator increased to €16 million compared to €4.5 million in 2024.

The company's operating profit also rose significantly — to €30.8 million compared to €18.3 million a year earlier. Total assets reached €250.7 million, and net assets stood at €121.7 million.

The company notes that the strong results were made possible by high occupancy of retail space and increased footfall. A turnover increase of approximately 5% and an active flow of shoppers indicate the sector's recovery from the pandemic and strengthening consumer confidence.

An additional growth factor was the introduction of new brands and the modernization of retail spaces, which enhanced the centers' appeal as key shopping and entertainment destinations.

Despite inflationary pressures and geopolitical risks, the retail sector in Cyprus demonstrates resilience and the ability to adapt to changing market conditions.