Cypriot businessman Nikos Shacolas dies at age 98

Cypriot businessman Nikos Kyprianou Shacolas has passed away at the age of 98. Born in Karavas, Kyrenia, on December 1, 1927, he began his career in 1953 with agricultural exports before expanding into a diverse array of sectors including shipping, retail, telecommunications, and real estate. He founded the CTC Group and was instrumental in major projects such as the Mall of Cyprus, Mall of Engomi, and the development of Hermes Airports. Shacolas served as the honorary Consul of Mexico in Cyprus from 1990 to 2007 and held various leadership roles in the Cyprus Chamber of Commerce and Industry. Known for the iconic Shacolas Tower in Nicosia, he was a prominent figure in rebuilding the Cypriot economy following the 1974 Turkish invasion. Throughout his life, he donated over €13 to €15 million to state projects, including schools and museums. He is survived by his wife, Elpida Shacolas, and their four children.