The contracts of the project were signed between the Mayor of Nicosia Konstantinos Giorkatzis and the director of Lois Builders Limited Nikolas Lois. The building will host functions of the Center of Excellence in Research and Innovation CYENS
The Municipality of Nicosia is proceeding with the maintenance and restoration of the building of the Municipal Market of the old City Hall in its center within the city walls next to the green line, in order to function as a pole for the development and promotion of entrepreneurship and research technology and innovation industries in Cyprus.
The building will host the operations of the Center for Excellence in Research and Innovation CYENS (formerly RISE) and is part of the priorities of the strategy of the Municipality of Nicosia for Integrated Sustainable Urban Development to promote research, innovation and entrepreneurship.
In the facilities of the Agora building, in addition to the workshops and application demonstration countries, common workplaces, seminar space, multimedia studios, fabrication lab, electronic standards space, etc. will be hosted.
On Tuesday, January 5, 2021, the contract of the project “Business Innovation Center – Creative Business District – Restoration and expansion of the old Municipal Market” was signed between the Mayor of Nicosia Konstantinos Giorkatzis and the director of Lois Builders Limited Nikos.
The restoration works have been undertaken by the company Lois Builders Limited for the amount of 4,927,000.00 euros plus VAT.
Town Hall Square
CYENS (formerly RISE) already operates in the historic center of the city and next month is expected to move its operations to the renovated Entrepreneurship and Innovation Hub (former Stoa) in City Hall Square where more than 100 people will be accommodated.
The Agora (Old Town Hall) building and the Entrepreneurship and Innovation Node will be the core of the “Creative Business District” project that is already being implemented and which is expected to give impetus to the development of a competitive and extroverted knowledge economy as a regional hub of creativity, technological progress and business innovation, with benefits that will be extended throughout Cyprus.
The consortium, coordinated by the Municipality of Nicosia, joins forces of renowned international prestige, such as the Max Planck Institute of Germany and the University College London of the United Kingdom, as well as the three state universities of Cyprus (University of Cyprus, University of Technology Cyprus and the Open University of Cyprus).
The project of the restoration of the Municipal Market building of the old City Hall can be co-financed by the European Regional Development Fund, the Republic of Cyprus and the Municipality of Nicosia, during the programming period 2014 – 2020.
Watch the 3D video from inside the space