A total of 380 rooms for students will be built by 2026 in the heart of old Nicosia aiming to revive the historic part of the capital.
This is what Philenews reported on Thursday, citing Interior Ministry insiders.
The student dormitories and rooms will be on Voulgaroktonou, Arsinois and Komninou streets and contracts have been signed earlier in the month.
This project aims to breathe new life into the city centre and contribute to the revitalisation of walled Nicosia by attracting students.
Funding for the creation of the dormitories and rooms amount to €14.3 million and the budget will soon be submitted before the Council of Ministers for approval.
The grand project will be co-financed by the European Union, the Interior Minister and the Mayor of Nicosia told a press conference on Wednesday.
As for state grants for the creation of student halls of residence and rooms, it was clarified that the grant covers 75% of the eligible costs of each proposal for the conversion of an existing building into a student residence.
And 50% of the eligible costs of each proposal for an extension of more than 30% of the existing building.
The costs relate to building works, electrical installations, plumbing, fire safety, property equipment, architect’s or consultant’s fees etc.
