Niang has been deprived of regular game time at Sundowns since joining from SuperSport United before the start of last season.
One of Niang's strengths is the aerial threat he poses at set-piece situations, a quality that coach Pitso Mosimane was adamant would give the Brazilians a different dimension when they competed in the CAF Champions League.
The Senegalese striker will join former Premiership compatriot Roger da Costa at Limassol and Dino Ndlovu, who plays for Anorthosis Famagusta in the Cypriot league.
"Yes, that's true. I'm joining them on loan for the season. The name of the team is AEL Limassol and I will leave sometime during the week," Niang told KickOff.