Millions in investments breathing new life into the walled city of Nicosia

With a total budget of €28.8 million at developers' disposal, the walled city of Nicosia is undergoing a transformation.

Drawing financial resources from the Recovery and Resilience Mechanism through reforms and investments from the Cyprus Recovery and Resilience Plan, the regeneration of the area is progressing rapidly with projects that aspire to meet the need for housing for hundreds of students.

More specifically, the project aims to regenerate and revitalise the inner-city of Nicosia by attracting young residents, new investments and promoting economic activity.

It includes the renovation of the Faneromeni school in order for it to be used as a department of the University of Cyprus, the purchase and renovation of buildings with the aim of converting them into student dormitories, as well as the provision of incentives to individuals to create student accommodation in the area, with an implementation timeframe of 30 June, 2026.

The aim of the entire program is to create 450 student rooms through Grant Schemes and by purchasing two buildings and converting them into student dormitories by the Municipality of Nicosia.

In the core of the old city, construction projects involving student dormitories are at an advanced stage. The first dormitory, consisting of 13 rooms, has already been completed, while another 31 dormitories have received the green light and are being implemented.

Countdown to the delivery of another stove - Seven other projects in progress

Within the framework of the three calls for proposals of the Grant Scheme for student dormitories and rooms within the walls of Nicosia (May & December 2022, February 2024), 44 proposals were evaluated. Of these, 31 were approved and concern a total of 525 student rooms.

The approved proposals are included in a special fast-track licensing framework, which facilitates their immediate implementation.

Speaking to InBusinessNews , Urban Planning Officer Elina Triantafyllidou stated that to date, eight public financing agreements (PFAs) have been signed, for a total of 159 student rooms, while construction work on the first project has been completed, with 13 student rooms and an approved grant of €363,664.

"The other seven projects, for which a Memorandum of Understanding has been signed, are in progress, while the next student dormitory is expected to be delivered within the first quarter of 2025," she pointed out.

It is noted that a prerequisite for submitting an application for inclusion in the grant scheme is the possession of a town planning permit and a building permit, for the granting of which, the Department of Town Planning and Housing, in collaboration with the Nicosia District Local Government Organisation, applies the fast-track licensing procedure.

The process requires the pre-approval of draft plans regarding the proposed development and the distribution of its uses.

Regarding the facilities and services included in the projects to be created, Triantafyllidou explained that in general, the guidelines of the sponsorship plan require the creation of a shared living room and kitchen (if the student rooms do not offer a kitchenette) and a laundry room, the area of ​​which is determined by the number of rooms in the student residence.

Besides, she added, in each project, depending on the architectural proposal, additional services can be configured such as, a reading room, a gym, a games area, etc.

Student rooms on Aristidou, Voulgaroktonou, Arsinois and Komninou streets

The Municipality of Nicosia is also participating in the project by creating student rooms and apartments on Aristidou Street, as well as on Voulgaroktonou, Arsinois and Komninou Streets.

On Aristidou Street, the works are at an advanced stage with completion scheduled for December 2025. The design provides for 19 double rooms as well as a room designed to accommodate people with disabilities.

The rooms are self-contained and have a fully equipped kitchen, bathroom and laundry. The building has a modern secure access control system and the needs of the common areas are covered by a photovoltaic system.

The budget of this project amounts to approximately €2 million plus VAT.

The configuration of the student rooms on Voulgaroktonou, Arsinois and Komninou streets is also in the final stage , with construction work expected to be completed in the first quarter of 2025.

The design provides for the creation of a total of 50 rooms, one of which is specially designed to accommodate disabled people. The project will be able to meet the housing needs of a total of 58 students.

Each room will be equipped with a refrigerator, microwave, double electric stove, extractor hood and heating/cooling air conditioning. In addition, two areas will be created, which will have 12 washing machines and 12 dryers.

A photovoltaic electricity generation system, an anti-theft system (burglar alarm), a closed-circuit television system (CCTV), a call system for the disabled, an access control system, an automation system (lighting control), lightning protection and a television system will be installed in this student dormitory.

The cost of the project for the student dormitory on Voulgaroktonou, Arsinois and Komninou streets amounts to €3.9 million plus VAT.

Photos of student rooms on Aristidou, Voulgaroktonou, Arsinois and Komninou streets: CYENS Center of Excellence