Tourism and real estate investment is accelerating in the centre of Nicosia, in the south of the divided capital. Nicosia Mayor Charalambos Prountzos announced that the combined value of investments under way in the city centre has exceeded €500 million.
Among the most notable projects is the conversion of a former clinic into a 71-room luxury hotel, bringing a building long used for a different purpose into the hospitality sector.
Another key development is taking place on the site of the former Laiki Bank building, where construction of a new 165-room hotel is under way.
The transformation of older buildings into hotels stands out as one of the most visible signs of the wider change taking place in the city centre. The investment figure of more than half a billion euros cited by Mayor Prountzos points to growing interest in central Nicosia.
