A new proposal is in the works to restore Nicosia’s old GSP stadium, after years of waiting, Interior Minister Socrates Hasikos said on Thursday.
It entails an ambitious project which will include a 70-bedroom boutique hotel, 7,000 square metres of retail and entertainment stores, and a covered parking with 1,000 spots.
“Four years later we have a new, improved proposal which seems, on first sight that the project is viable.”
Speaking after a meeting with Nicosia Mayor Constantinos Yiorkadjis and the Nicosia Chamber of Commerce, Hasikos said a tender had been called four years ago but for various reasons –including the deep financial crisis Cyprus was in and a lack of investor interest, it had not moved forward.
“Thankfully today, the country’s finances are much better. We are out of the memorandum.”
Back in 2008, members of the public had participated in a referendum to vote for what they would like to see in the stadium and submit their own proposals – that have now featured in the latest proposal.
“It is an attractive proposal. There will be contacts with interested investors and afterwards the government will proceed to a call for tender.”
Hasikos added the hotel would be in a perfect location close to key commercial, entertainment and creative areas with plenty of parking and places to hold conferences.
“It will respond to every need guaranteeing occupancy because it will cover a true gap in central Nicosia.”
Countering remarks the proposal was vague, Hasikos said there were even specific plans being evaluated and as the government wanted to move forward with the development, if there was investor interest then the proposal would be implemented.