Short Description/Objective

The project concerns the restoration and expansion of the Old Municipal Market building, which is located at the historical centre of Nicosia, next to the buffer zone.  The building hosts the Business Innovation Centre of the Centre of Excellence for Research and Innovation (CYENS) focusing on Interactive Media, Smart Systems and Emerging Technologies. In this respect, the project includes, among others, labs, spaces for demonstration activities, shared workspaces, seminar room, multimedia studio, fabrication lab, space for electronic templates, etc.

CYENS is already operating at the historical centre of the town, in the renovated building (former STOA) at the Town Hall Square, as an Entrepreneurship and Innovation Hub, where more than 100 people are accommodated.

The building of the old Municipal Market together with the Entrepreneurship and Innovation Hub constitute the pillar of the wider project “Formation of a Creative Business District”, and aims to promote the wider region of the capital city as a regional hub of creativity, technological progress and business innovation.

Expected Benefits/Outcomes

The project is expected to have multiple benefits, such as:

• Strengthening and supporting networks to promote business innovation and creative industry, including Centre of Excellence activities
• Creating new jobs
• Regeneration of the area and increase of visitors
• Upgrading the wider urban environment
• Creating synergies with other related projects.