According to Yiorkadjis, who was speaking at a press conference, the municipality has spent €220 million in restoration and revitalisation works for the old town over the past 12 years, while currently of those funds projects worth €100 million have recently been completed and project worth another €50 million are currently underway. Yiorkadjis noted that the planned projects are in the order of €20 million, while the state’s budget for incentive plans amounts to €50 million.

Besides, he mentioned that all the incentive plans are coming to be put into effect in areas where many projects have been implemented or are currently being conducted by the municipality and this, he added, because it is established that this multi-level planning, i.e. the creation of infrastructure in combination with the provision of incentives, has positive impact and acts as a catalyst to fill the buildings with life. He said that the dream, will, and decision of the Nicosia municipality is to continue its efforts to revamp the area of the old town.

For her part, the Senior Architect, Urban Planning Officer and Head of the Office of the Unified Regulatory Plan of Nicosia, Athena Papadopoulou, presented the projects of the municipality that were completed and those that are in progress such as the reconstruction of the outer arch of the moat (Stasinou Avenue), Trikoupi Street, the renovation of the Old Municipal Market building, which will house the CYENS centre of excellence and the two student residences on Voulgaroktonou – Arsinois – Komninos and Aristidou Streets.

According to Papadopoulou, the completed projects in Nicosia within the walls over the last 10 years or so concern the innovation and entrepreneurship hub (in Lellou Demetriades Square) worth €4 million, in the Creative Enterprises Quarter, with the redevelopment of Phase A’ to be estimated at €1.5 million, the new Nicosia City Hall worth €19 million, the revitalization and beautification of the Laiki Geitonia, with the cost of Phase A at €0.8 million, in the anti-flood works worth €1.5 m., in the archaeological park next to Nicosia City Hall worth €0.9 million and in the improvement of Rigenis Street and part of Voulgaroktonou Street worth €1 million.