The old Athenais Factory was erected in 1925 to produce organic silk. Many sections of the original building complex were constructed using reinforced concrete, an innovative material for its time.

During the German occupation of World War II, the factory was converted into a bomb shelter, re-opening for business after the liberation. However, times had changed and organic silk was losing ground to synthetic materials like Nylon, leading the factory to close.

The land was eventually purchased at the turn of the century and converted into a multi-venue centre for cultural and social events. Today it houses the Cypriot Art Museum, a meeting hall, a large exhibition venue, a theatre, cinemas, a restaurant and a cafe.