Developers and private investors are actively buying up land in the prestigious area around the GSP stadium, which is strategically located close to the Nicosia-Limassol motorway.
The area is considered to be very promising for investment due to its developed infrastructure and good transport links.
Recently, REMU, a subsidiary of the Bank of Cyprus, offered 11 plots of land for sale in a major investment deal. To date, only two plots remain available. The first is priced at €1.85 million and the second at €1.78 million. The entire area is located 100-110 metres from the track and 600 metres from the GSP stadium, making it suitable for both commercial and industrial use.
Experts note that the area is characterised by high investment attractiveness due to the active development of business centres, warehouses and office buildings. REMU is offering these plots in the Ba3 zoning district, where it is possible to construct buildings of up to two storeys in height, with a building ratio of 100% and a coverage of %.
The total value of the sale of all 11 plots is estimated at EUR 16.9 million. According to property market analysts, the high level of investor interest indicates a stable growth in demand for commercial property in the area. Experts predict that the remaining plots will be sold in the near future, and further development of the area will contribute to economic growth and the creation of new jobs.
It is worth remembering that the GSP Stadium is currently undergoing renovation, which will be completed by the end of 2026.
The reconstructed area will become the new cultural and social centre of Nicosia. The project includes:
- GSP History Museum
- Children's playground
- A restaurant
- Outdoor amphitheatre
- A massive multimedia system with a giant screen
- Modern lighting system next to the old centre clock from the original stadium
- Cascading waterfall running down a large staircase with air conditioning
The project includes not only the renovation of the stadium, but also its maintenance by the development company for the next 10 years. Funding for the upgrade has been provided by the EU Cohesion Fund, the state budget and the Nicosia municipality as part of the 2021-2027 Regional Development Programme.