Multi-million euro plan for central Nicosia


The Cypriot government presented on Monday a plan to revive the city center inside the historical Venetian walls of the capital Nicosia, for a total amount of 40 million euros, of which 25 million euros will be financed by the Cyprus National Recovery and Resilience Fund, which is supported by European Union Resources.

The plan, with an implementation horizon between 2022 and 2026, includes the transfer of the School of Architecture from the University of Cyprus to the historic Faneromeni School, incentives for the creation of student residences, subsidies for stimulate entrepreneurship in the city center, urban incentives, as well as an economic support plan for the purchase of main residences.

“This is a series of targeted actions that will allow the capital to claim that the city is changing,” President Nicos Anastasiades said at an event at the presidential palace to present the plan. .

He added that this plan will complement other ongoing projects in the city, such as the reconstruction of Eleftheria Square, the new National Theatre, the revival of the Municipal Theater and the new central bus station in Solomou Square.

For his part, Finance Minister Constantinos Petrides said that due to the Turkish invasion in 1974, Nicosia is the only divided capital in Europe and noted that Nicosia within the walls constitutes “our identity historical”.

Nicos Nouris, the interior minister, said “this plan is the start of the implementation of a decades-old vision and goal to lift the uprooting of the city centre.”

Constantinos Yiorkadjis, the mayor of Nicosia, said that despite the challenges, the municipality remains committed to the revival of the city centre.

“Abandoning the area would amount to an indirect recognition of the accomplished facts of the Turkish invasion and occupation,” added the mayor of the capital.

The plan includes €15 million in grants to attract facilities for housing around 580 university students in existing or new buildings, €10 million in grants to boost entrepreneurship in the city centre, while that the government should launch in January 2023 a 5 million euro scheme to subsidize the purchase of main residences in the city center on the model of the plan for remote and mountainous areas.


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