The confirmed purchase is part of a plan presented on Monday by Finance Minister Constantinos Petrides to revive the city center within the historic Venetian walls of the capital Nicosia, totaling €40 million. The plan is also supported by European resources and with an implementation horizon between 2022 and 2026.

One of the two buildings is situated on Aristidou Street and the other on the junction between Voulgaroctonou-Arsinois-Komnonos streets.

The plan features the transfer the University of Cyprus’ School of Architecture to the historic Faneromeni School and incentives for the creation of student residences.

Constantinos Yiorkadjis, the mayor of Nicosia, said that despite challenges, the municipality remains committed to the revival of the city center.

And that the plan includes €15 million in subsidies to attract facilities for the accommodation of approximately 580 university students either in existing or new buildings.

Source: In-Cyprus