The remodelling of Nicosia’s city centre is a multifaceted initiative, not just an economic venture, aiming at the rebirth of the city while maintaining its historical identity, Interior Minister Constantinos Ioannou said on Friday.
Addressing a Cyfield event titled “The new age of the centre of Nicosia: the modern lifestyle and investment prospects”, Ioannou called on all residents, businesspeople and organisations of the area to actively participate in this effort, to guarantee viable and beneficial development for all.
Works within the fortified Venetian walls were focused on promoting and rejuvenating the area, socio-economic growth, improving infrastructure, upgrading the structured environment and improving the quality of life and visitor experience.
The strategy, contributing to green development and viability, was based on three pylons, namely cultural heritage, local economy and social cohesion.
To achieve these aims, the minister said, a series of plans and measures were being implemented, targeted inter alia at renovating the old Faneromeni school for use by the University of Cyprus, facilitating traffic, planning incentives and funding for homes, businesses and 450 student dormitory rooms.
Ioannou said the action plan for the walled city centre was included in the new four-year green line plan for Nicosia, aimed at giving a new lease of life to areas close to the demarcation line.
Furthermore, the state was placing emphasis on restoring the architectural heritage and listed buildings through “generous funding and other incentives”.
Ioannou said €10 million had been earmarked to support business activity within the walled city and the plan would be open until December 2026.
Student dormitories came under the recovery and resilience scheme with a total investment of €15 million. The plan is already in effect and the first 13 dormitory rooms will be delivered in November 2024.
