Nicosia Municipality has called on residents of Cyprus to support the CYENS Hub Nicosia project by voting for it in the REGIOSTARS Awards 2026. The project has been selected among the 25 finalists of the prestigious European competition.
The REGIOSTARS Awards are an annual initiative of the European Commission recognising projects implemented with the support of the European Union’s Cohesion Policy. The competition highlights initiatives distinguished by innovation, quality and a positive impact on European regions and their residents. In 2026, the jury will present 5 awards — one in each competition category. A separate Public Choice Award will be decided by citizens through a Europe-wide public vote.
All 25 finalists will present their projects to the jury and the public on 13 October 2026 in Brussels during the European Week of Regions and Cities. The winners will be announced on 14 October.
Nicosia’s Old Municipal Market transformed into a technology and innovation hub
Following its renovation, the historic Old Municipal Market building in central Nicosia has been given a new lease of life, preserving its architectural heritage while being transformed into one of Cyprus’s most modern research complexes. Today, it houses the permanent headquarters of the CYENS Centre of Excellence. The building includes:
- modern research laboratories;
- co-working spaces;
- conference and seminar rooms;
- multimedia studios;
- facilities for testing digital solutions;
- infrastructure supporting the development of innovative start-ups.
The project is considered one of the most successful examples of how European funding can help preserve cultural heritage while creating new technology hubs at the same time.
The project was selected for the top 25 from 274 applications submitted from across Europe and is competing in the “A Competitive and Smart Europe” category. For Nicosia, it is an important example of how historic buildings can be given a new function without losing their connection to the past. The municipality sees this as a significant stage in the renewal of the capital’s historic centre. Instead of remaining solely a monument to the past, the building has become part of the modern urban economy and technological infrastructure.
What this means for central Nicosia
The development of projects like this is gradually changing perceptions of Nicosia’s central districts. The historic part of the city is gaining new workspaces, technology projects and destinations attracting professionals, entrepreneurs, students and visitors. The development of urban infrastructure also matters for the property market. Homebuyers assess not only the size and price of a property, but also what surrounds it: transport, jobs, public spaces, educational institutions, business centres and the future prospects of the area. At the same time, CYENS Hub Nicosia’s nomination does not automatically mean that property prices will rise. However, the emergence of research and technology centres is one of the factors that can make central districts more attractive for living, working and investment.
Nicosia focuses on revitalising its historic centre
The municipality emphasises that the redevelopment of the Old Municipal Market reflects a broader strategy for the development of Nicosia. The aim is to revitalise the historic centre while creating a modern environment focused on knowledge, research and innovation. For the capital of Cyprus, this approach is particularly important: preserving historical identity goes hand in hand with the development of technology and entrepreneurship. The municipality considers this connection between the past and the future to be one of the project’s main achievements.