Commercial development at old GSP site in Nicosia awarded to consortium

The Nicosia Municipal Council has officially awarded the tender for the commercial exploitation of the redeveloped old GSP stadium site to a consortium of three major Cyprus-based companies. This decision, finalized last Thursday, marks a significant step in transforming the central city landmark into a vibrant hub for commerce, dining, and public services.

The project includes the operation of five distinct retail and hospitality units, which will feature a mix of cafes, restaurants, bars, and a retail store. Each of the three companies within the consortium will manage the fit-out and operations of these spaces according to their specific sector expertise. Furthermore, the development plan integrates a Citizens’ Service Centre, which is scheduled to begin operations within 2027.

This redevelopment represents the final phase of a long-term urban renewal effort aimed at revitalizing the heart of Nicosia. As the project enters its next stage, stakeholders are awaiting the conclusion of the mandatory tender review period. If no appeals are filed against the council's decision in the coming months, the consortium will commence the physical setup of the facilities, establishing a new core for urban activity in the capital.