The first student residence within the Nicosia walled city is set to open in November. This 13-room residence is part of a larger initiative to create 380 student rooms in total.
The Ministry of the Interior is implementing a grant scheme to encourage the conversion of buildings into student residences.
The scheme offers financial incentives to property owners and tenants, along with a streamlined licensing process.
The goal of the programme is to revitalise the walled city of Nicosia, which has faced economic challenges for decades.
The Ministry’s action plan includes various initiatives to promote social and economic development, such as:
- Long-term lease of the Phaneromeni building for the Architectural Department of the University of Cyprus
- Implementation of traffic facilities for sustainable urban mobility
- Town planning and economic incentives
- Grant schemes for housing acquisition and entrepreneurship
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