Old GSP redevelopment enters final stretch (pics)

Works on the redevelopment of the old GSP into a green and recreational space are in their final stage.

The project, with an approximate budget of €27 million, is being implemented under the Cohesion Policy Programme “THalEIA 2021-2027” with EU co-financing.

The implementation of the project began around the end of 2021 and is expected to be completed by March 2025, providing a significant green and recreational space for the residents of Nicosia and its visitors.

The contractor for the project is the joint venture Cyfield Construction – Cyfield Development J.V. The design of the project is based on the proposal that won first prize in the architectural competition for the redevelopment of the old GSP and is by the consortium of architects Giannis Kizis, Konstantinos Kizis, Gregoris G. Patsalosavvis, and Thymis Doungas.

The old GSP, which is located in the central business district of Nicosia, has been transformed into a park surrounded by greenery, with easy access for citizens. The design concept references the form of the old stadium, with structures shaped like stadium stands whose roofs are covered in greenery.

Keen interest by companies to use commercial space

There is significant interest from corporate groups in utilising the commercial spaces. The plan also includes the construction of an outdoor amphitheatre, a multipurpose hall, cafes, and other retail outlets, as well as an installation to connect with the public bus network. Additionally, a Citizen Service Centre (KEP) will be housed on site.

The project’s facilities will include approximately 560 parking spaces, electric vehicle charging points, and a park-and-ride type boarding station.

During a site tour, Nicosia Mayor Charalambos Prountzos noted considerable interest from conglomerates in activating the commercial areas. These spaces will be delivered as a “shell” so that their operators can configure them as they wish. “The goal is to bring people into the city, to unite and expand the commercial triangle,” he emphasised, among other.

The project is funded by the EU, covering the total cost of the project, while the remaining 25% is financed by the state budget and 15% by the budget of the Municipality of Nicosia.

The “THalEIA” Programme is a robust seven-year investment plan with a total budget of €1.8 billion, which includes investments in nearly all sectors of economic activity and social life in Cyprus, with €1 billion coming from EU co-financing and €800 million from national contributions.

A crucial piece of the Nicosia puzzle

In his statement, Nicosia Mayor Charalambos Prountzos emphasised that the project creates interconnecting routes with other significant projects that have been implemented in the centre of the capital with EU co-financing through previous Cohesion Policy programmes. These include the redevelopment of the Makarios-Stasikratous-Evagorou commercial triangle, the redevelopment of Eleftheria Square and its surrounding area, the boarding station at Solomos Square, the redevelopment of the Outer Ring Road of Tafrou, and other urban redevelopment projects within the city walls.

“The project is a crucial piece of the Nicosia puzzle that is being built and acquiring the character that a modern, organised, and sustainable city should have,” said Prountzos.

(Source: InBusinessNews)