The Employers and Industrialists Federation (OEB) expresses deep sorrow for the death of businessman Nicos K. Shacolas and extends its sincere condolences to his family, relatives and associates.
With a career of more than 70 years, Nikos Shakolas was one of the most emblematic business personalities of the country. He worked with vision, creative spirit and perseverance, developing one of the largest business groups in the country and creating thousands of jobs. His business activities have been pioneering and have led, among other things, to the creation of the joint ventures that developed and manage the new airports of Larnaca and Paphos, to the operation of the first department stores and DIY department stores in Cyprus, as well as to the construction of the Shacolas Tower in walled Nicosia.
In parallel with his business activities, the deceased developed intense philanthropic activity, which includes significant donations to the University of Cyprus for the reconstruction of the buildings of the Medical School and Health Sciences “Nikos K. Shacolas” and the “Shakoleio Educational Center for Clinical Medicine”, the construction of museums and cultural institutions and the creation of the Karavas Scholarship Foundation.
The business and social legacy he leaves behind are a source of inspiration and a point of reference for Cypriot entrepreneurship.
