The Nicosia municipality said on Tuesday, May 18 they had received seven proposals to renovate the site of the old GSP stadium.
In particular, the following companies submitted their applications:
- A. Panayides Contracting Ltd - Quarries Farmakas Public Company Ltd consortium,
- Atlaspantou Co Ltd,
- Cybarco Contracting Ltd,
- Cyfield Construction Consortium,
- Iacovou Brothers Ltd,
- Lois Builders Ltd - Wade Adams Contracting Ltd,
- Zemco Construction Ltd.
This is a very important project in the heart of Nicosia which will greatly enhance the revitalisation of the historic centre of the capital. The revamp is also considered of decisive importance to enhance sustainable mobility through the use of small Nicosia buses, which will start off there - they said.
As you may know, the Municipality of Nicosia announced a tender for the reconstruction of the old GSP stadium in February 2021.
According to the idea of the city authorities, this place is expected to be radically transformed. The municipality plans to create a modern city square, places for recreation, plant greenery around the stadium, as well as build a spacious two-level parking lot for 570 cars. The new park will also include a cafe, restaurant, bookstore, art gallery, amphitheater, square, small waterfall and water wall.
The total project cost is estimated at €19.7 million + VAT.
The money for its implementation will be allocated from the cohesion fund of the EU, budgets of the government and the municipality of Nicosia, within the framework of the regional development program for 2014-2020.
The renovation of GSP Stadium is expected to take about two years, after which the contractor will undertake another 10 years to maintain it.
You can learn more about new projects on the DOM real estate website. The website also has a large number of Cyprus properties, both residential and commercial. Choose and contact professionals who will help you make the right choice!