Ministry of Interior funding aims at transformation of Nicosia's historic centre

08:44 - 21 September 2023

Economy Reporter

Minister of the Interior, Constantinos Ioannou, has presented grant schemes aiming to revitalise and transform Nicosia's historic centre into a modern area of business and economic activity, attracting new residents.

Ioannou announced the scheme at a press conference at Nicosia Municipality on 20 September.

The schemes include grants to boost business activity in the historic city centre and home ownership grants in the same area. Also, there is a grant scheme for funding the building of students' accommodation, which is included in and funded by Cyprus' recovery and resilience plan.

"We aspire to transform the historic center into a modern place of business and economic activity, to ensure the stay of existing residents and attract new ones, achieving its revival," the Minister noted.

For his part, the Mayor of Nicosia, Constantinos Yiorkadjis, emphasised the importance of attracting new people to "come, live, work or do business in the historic center of the capital", noting that "we now know today that this multi-level planning, i.e. infrastructure creation combined with incentives, has a positive impact and works catalytically to 'fill' buildings with life".

Nicosia remains the last divided capital of Europe, after the Turkish invasion in Cyprus in 1974.

(Source: CNA)

Ministry of Interior funding aims at transformation of Nicosia's historic centre

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