A new hotel is to open on Nicosia’s Makarios Avenue, according to reports.

Newspaper Phileleftheros wrote that the new hotel will be built in the former Laiki Bank building, which is located next to the National Bank of Greece.

The hotel will have a total of 168 rooms and will be owned by the Israeli Fattal Group, which is rapidly expanding its hospitality investments in all parts of the island.

It recently acquired the iconic Grand Resort hotel in Limassol and other hotel units in that district, as well as in Paphos, Larnaca, and Protaras. 

Meanwhile, a second hotel is planned to be built on Nicosia’s Arnaldas street, which runs between Makarios Avenue and Stasinos Avenue. That hotel is set to have a capacity of 70 beds, and will be owned by a different investor.

Additionally, plans to build residential units andoffice spaces are also afoot in the city centre, with a multi-storey building to be erected next to the Zara shop, while construction company Cyfield is moving forward with three other residential buildings.