The Cypriot government presented on Monday a plan for the revitalization of the center of Nicosia, located within the historic Venetian walls, for a total of 40 million euros, of which 25 million euros will be funded by the National Fund for Recovery and Resilience of Cyprus.
The plan, with an implementation horizon between 2022 and 2026, includes the transfer of the University of Cyprus School of Architecture to the historic Faneromeni School, incentives for the creation of student residences, subsidies for the development of entrepreneurship in the city center, city incentives, as well as a plan to provide economic support for the purchase of basic housing.
“This is a series of targeted actions that will allow the capital to announce that the city is changing,” President Anastasiades said at an event held at the Presidential Palace to launch the plan. He added that the plan complements other projects implemented 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 at Solomos Square.
For his part, Finance Minister Konstantinos Petrides said that due to the Turkish invasion in 1974, Nicosia became the only divided capital in Europe, and noted that Nicosia within the walls constitutes “our historical identity.”
Nikos Nouris, Minister of the Interior, said “this plan represents the beginning of a vision and long-term goal to eliminate the city centre.”
Konstantinos Yorkajis, mayor of Nicosia, said despite the challenges, the municipality remains committed to reviving the city centre.“Rejection of this area would be tantamount to an indirect recognition of the fait accompli of the Turkish invasion and occupation,” he added.
The plan includes €15 million in subsidies to attract approximately 580 university student residences in existing or new buildings, €10 million in subsidies to develop entrepreneurship in the city centre, and in January 2023 the government is expected to launch a €5 million scheme. subsidize the purchase of primary housing in the city center, modeled on the plan for remote and mountainous areas.