Commercial premises at old GSP in Nicosia handed over to PHC
The Municipality of Nicosia in Cyprus has transferred commercial premises on the grounds of the former GSP stadium to PHC, the sole bidder in the tender. Cyprus Mail reports that the initial concession period will be 10 years and may be extended to 25 years.
PHC manages the Pizza Hut, KFC, Burger King, Wagamama, Caffe Nero and PAUL franchises in Cyprus. Nicosia Mayor Charalambos Prountzos said the company’s involvement should make the area an attractive place for residents and a renewed commercial centre of the city.
Green space and commerce
The future of the old GSP was determined through a public referendum initiated by former mayor Eleni Mavrou. Its result showed a preference for creating a public green space, while providing for a limited number of shops to form the project’s economic basis. Approximately 1,500 square metres were allocated for commercial use.
The head of the architectural team, Yannis Kizis, noted that residents primarily wanted to see greenery and a park. The project includes elements intended to recall the former stadium: the old clock, slopes around the perimeter and an amphitheatre facing into the space.
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At the same time, two bridges planned to connect GSP Square with the terrace of the National Theatre were not built. According to Kizis, the municipality decided to treat the theatre and the square as separate facilities.
Criticism of accessibility and the tender
George Sotiropoulos, co-founder of the Organisation for Positive Urbanism, called the area’s poor pedestrian connectivity a major loss of potential. He drew attention to fences around the complex, the difficulty of crossing Evagorou Street and the retention of on-street parking next to an underground car park.
Critics also question the transfer of all commercial space to a single operator. Local entrepreneurs had previously pointed out that the tender required participants to form a consortium and submit a bid for all available premises, which could have made participation more difficult for small businesses. The municipality acknowledged the risk of fewer applications but noted that separate tenders for seven different tenants also create risks. Ultimately, the tender received only one application, from PHC.
The reconstruction, previously estimated at around €55 million, cost about €27 million. Sixty percent of the amount was financed by the EU cohesion programme Thalia, while the remainder was covered by the state and the municipality. The complex’s underground car park has approximately 554 spaces.
