Investors are increasingly eyeing Nicosia’s centre, where developments in universities, hotels, and office spaces signal revitalisation of one of Cyprus’ most historic areas.

Recent local initiatives and rising investor interest are driving this turnaround, according to recent media reports.

A key development is Kapodistrian University’s new branch in central Nicosia, expected to attract related investments, such as cafes and eateries.

The growth of educational institutions has historically boosted surrounding areas, as seen in Makedonitissa.

What is more, residential, office, and hotel projects are also on the rise.

Housing demand, meanwhile, particularly from businesses and people relocating to the city, is being met through a number of new projects.

Israeli-based Fattal Group has revived its plan for a 168-bed hotel in the former Laiki building on Makarios Avenue.

A smaller boutique hotel is also planned for Arnaldas Street. Residential and office developments are progressing, with Cyfield constructing three new residential buildings and a high-rise project planned near the Zara store.

A new office space on Evagorou Street is set to connect the old town with the GSP stadium area.

The €20 million redevelopment of the old GSP stadium is attracting major interest from renowned brands and is expected to contribute to the area’s functional and aesthetic upgrade.