The building that once housed the former Orphanides Mall in Strovolos is expected to breathe new life in the coming years. The Bank of Cyprus is currently undertaking preliminary plans for its utilization. According to Brief, difficulties in finding a buyer for the building, valued at 34 million euros, led the Bank of Cyprus to decide on self-utilizing the property.

In this context, the Bank has withdrawn the listing of the building from its Real Estate Management Unit (REMU) website, where it advertises properties for sale.

The Bank of Cyprus plans to relocate some of its departments and offices to the former Orphanides Mall. These offices are currently scattered across various buildings, either entirely or partially.

A source from the Bank explained to Brief that the relocation to the former Orphanides building will not be immediate, but will take place over several years, following specific actions.

Firstly, the Bank must undertake necessary planning to decide which offices will move to the new location. Subsequently, the cost of this plan must be determined.

After these steps, the Bank will need to submit the necessary applications to the relevant state departments and services to secure the required permits for implementing its plan.

It's noteworthy that the former Orphanides Mall, a creation of entrepreneur Christos Orphanides, was constructed in the late 20th century and is located alongside Spyrou Kyprianou Avenue in Strovolos.

The building comprises three floors (basement, semi-basement, ground floor, and one upper floor) and covers a total area of 59,437 square meters. It also features a total of 1,126 parking spaces, with 516 spaces in the basement and the remaining 610 on the ground level of the establishment.

Additionally, the building houses seven commercial spaces, offices, meeting rooms, and employee changing rooms.