Gold Magazine January - February 2014, Issue 34 | Page 49

INTERVIEW

er’s perspective, without much sentiment.
Furthermore, during a transaction, the
owner needs to be your partner in the whole
selling process.
Gold: With Cyprus having suffered a
notoriously difficult year, why the decision to open an office in Cyprus?  How
far is Cyprus an attractive base?
M.C.: Connecor already has six offices
worldwide, with Cyprus being our seventh.
The market has enough interest in terms
of businesses and assets for sale that will
attract international investors but, most
importantly, we are here to close deals
originating from the Middle East, Russia,
and possibly Greece. The geographical advantage of Cyprus to the Middle East and
Europe is important, as well as the strong
relationships of Cyprus with Russia and
countries in the Middle East. These markets are already familiar with the favourable
tax regime in Cyprus and the widely-used
DTTs for structuring. Thus it made perfect
sense to open the office in Cyprus, especially at this point in time in view of the
prospects of oil and gas findings.
Gold: Having most recently held the position of general manager of The Mall of
Cyprus for over six years, why the transition to Connecor? What present and
future opportunities do you perceive in
the Cypriot market for Connecor?
M.C.: Working for the Shacolas group
and setting up and managing The Mall
of Cyprus from the beginning was a great
experience for me. This special project will
always be in my heart. It remains, to date,
the first and most successful shopping mall
in Cyprus, and I am definitely very proud
to be a part of its history. However, after six
plus years in one position, no matter how
important this position can be, there is a
limit to how much value one can add and
a limit to how much one can learn. The
time had come for me to move on, to do
something new and equally exciting! Connecor gave me the opportunity to move on
from managing and growing a business, into
another dimension: interviewing, advising,
promoting, selling, and finally transferring
a business. One of my personal goals in the
next five years is to actually be able to sell at

CONFIDENTIALITY IS KEY

TO OUR SUCCESS

least one shopping mall in the region! Even
more importantly, though, my new job allows me to have international exposure and
interaction.
Gold: With the Cyprus office of Connecor
focused on local transactions, as well as
those in Russia and the Middle East,
what energy is being felt between Russia
and Cyprus, and the Middle East and
Cyprus, for future business growth? Is
Connecor supplying for the demand, or
actually driving the growth?
M.C.: Cyprus has always been a good business centre for investment to and from
Russia, and now increasingly for the Middle East. Our highly-educated workforce,
strategic location, favourable tax regime,
large number of double taxation treaties,
excellent professional services, infrastructure and