The €19.7 million redevelopment of Nicosia’s old GSP stadium is entering its final phase, with handover expected within three months, municipal officials told parliament on Thursday.
The project, which began in November 2021, will be delivered as a “cold shell”, allowing future tenants to customise interior spaces, Nicosia Municipality’s Engineer Koulla Ioannou told the Parliamentary Transport Committee.
Final paving work will be completed this weekend, followed by cleaning operations next week, despite some minor outstanding issues still being addressed with the contractor, officials said.
The development, co-funded by the EU Cohesion Fund, national budget and Nicosia Municipality under the “THALIA” 2021-27 programme, includes two underground car parks with 554 spaces, including designated areas for disabled access, electric vehicles, and family parking.
The site will feature two landscaped hills, an urban plaza incorporating the Cyprus Theatre Organisation building, an amphitheatre, cafes, restaurants, and cycling paths. The space will become the capital’s largest plaza, with capacity for 18,000 people.
Though initially scheduled for completion in 2023, the project received an 18-month extension, which municipal officials described as fully justified. The final cost, including 10-year maintenance, is expected to remain within budget.
