BEST VALUE: €10 million investment as Nicosia expansion moves ahead

Plans for the expansion of the wholesale chain "BEST VALUE FOR PROFESSIONALS" in Nicosia are moving ahead.

After three years of successful operation in Limassol the chain, which introduced an innovative wholesale shopping model to Cyprus, aims to now serve both the city and the province of Nicosia with a physical store, giving professionals new proposals and solutions for their supply chain.

In the planning and licensing phase

The first important step for the expansion in the capital took place towards the end of 2022, with the purchase of the plot of land near the Mall of Cyprus, with the aim of building the second BEST VALUE FOR PROFESSIONALS store in Cyprus.

As InBusinessNews has been informed, the project is progressing according to the company's strategic plan and is on schedule, currently in the planning and permitting phase. With the completion of these steps, the construction part will begin immediately with the anticipated operation of the store being placed, barring unforeseen circumstances, in 2024.

€10 million investment and opening to a large market

"BEST VALUE FOR PROFESSIONALS" is a subsidiary company of METRO AEBE, which was the first to develop the cash & carry system in Greece in 1976. It proceeded at the end of the previous year to purchase a plot of land, near the Mall of Cyprus, following an agreement with REMU, the Property Management Unit of the Bank of Cyprus.

The cash & carry model launched for the first time on the Cypriot market by the chain in 2020 offers such services and solutions to professionals, both in the HoReCa and resale sectors, thus contributing to the development and growth of their businesses.

The wholesale chain decided to expand in Nicosia, the largest city on the island, in an area where the restaurant industry is particularly strong. According to the information of InBusinessNews, the total investment for this store is estimated at around €10 million.

A store in every city in the coming years

The new store in Nicosia is part of METRO AEBE's strategic plan and confirms the expansion plan, which foresees in the near future, a BEST VALUE FOR PROFESSIONALS store in every province of Cyprus.

This geographical dispersion, combined with the variety of services and solutions provided by the shopping model offered by the company, are the main pillars for the full consolidation of the cash & carry or "one stop shop" model in the Cypriot market.

The aim of the chain is to build a relationship of trust in order to become the first choice of the professional, which it has achieved with great success since 1976 in the Greek market, as its parent company, METRO SA is the leader in the wholesale sector with many years of presence and a large network of stores throughout the country. As InBusinessNews is informed, this experience, which was also transferred to the Cypriot market, has had excellent returns so far.

It is noted that, from 2020, through the store at the junction of Misiaouli & Kavazoglou and Koch streets, in Limassol, BEST VALUE FOR PROFESSIONALS introduced to the Cyprus market a special wholesale shopping model that places the professional at the centre, being not only a main supplier, but also a valuable partner. It is a wholesale hypermarket, where the professional can find solutions through 20,000 products in all the categories he needs, at competitive prices, in a comfortable and pleasant environment, without restrictions for minimum purchase quantities.

(Source: InBusinessNews)