Nicosia mayor Charalambos Prountzos on Friday called on the government to immediately fund the full restoration and expansion of Faneromeni school so it can house the University of Cyprus’ architecture department.

He told a press conference that the transfer is provided for in a memorandum of understanding signed in 2021.

Revitalising the walled city, he said, was a long-standing strategic aim based on comprehensive planning that envisages strengthening academic and research activity in the area.

“The MOU signed in 2021 does not just concern the renting of a building, but the revitalisation of the whole area of Nicosia within the Venetian walls“, Prountzos explained.

He said “the licences have already been issued and everything is ready to launch a project that will have the power to transform the area.”

The cost of restoration and construction of an annex is estimated at €16.5 million, just €3m over the original estimate.

“This cannot be considered an obstacle. When expected development performance is so big, the state should support the effort,” the mayor added.

Prountzos said the government’s arguments during a recent meeting at the finance ministry “are not valid”, noting the significant tax revenue the project would generate for both the state and municipality through construction and economic activity.

He added that moving forward with the project would also send a strong message to residents, businesses and the wider investment community.

Prountzos called on all involved parties to honour their commitments.

“The vision of revitalising the walled city produces results. We all agreed that this area has a future. Now is the time to prove it in practice, by incorporating the project into he budget for 2026,” he said.

Faneromeni, school, UCy, Nicosia

Nicosia district governor Constantinos Yiorkadjis, who was mayor when the MOU was signed, presented the framework for the strategic revitalisation of the area and the actions already implemented.

He said transferring the architecture school to Faneromeni was a key pillar of the plan.

The project had been delayed, he added, but seeking responsibilities now would be counterproductive.

“What matters is to greenlight the funding. The agreement is not one-sided when one evaluates the whole of the area and the projects that have already been completed,” he added.

Deputy mayor Chrysanthos Fakas said the municipality’s vision was the full development of the walled city “from one end to the other”.

He noted that the municipality had already invested €200m in large-scale projects.

Former Finance Minister Constantinos Petrides, Etek president Constantinos Constantis, Nicosia chamber president Michalis Moushiouttas, community leaders and representatives of organisations expressed their support for implementing the MOU, stressing the project’s importance for the city.

The press conference was held in front of Faneromeni school to underline the unity of Nicosia organisations, including shopkeepers who were also present.