Skyscrapers to be built in central Nicosia for €29 million: Athinaion project approved

In the historic center of Cyprus’s capital, within the Venetian walls, the environmental regulator has approved a large-scale new development project — “Athinaion Nicosia” worth €29 million. Initiated by Tofarco Ltd on behalf of Tivoli Property Ltd, the project involves the construction of two separate towers built on a shared foundation platform at the intersection of Andreas Demetriou and Evagorou Streets. This site is located near the Ministry of Finance and the old park on the former GSP stadium grounds, once known as “Athinaion” in honor of a popular 1980s cinema that was demolished in 2003 and handed over to owners in 2015. The lot had served for years as a parking area.

The taller western tower will exceed 80 meters and include 19 floors designated for office and commercial use; the eastern tower will reach 53 meters and comprise 12 levels with commercial spaces and residential units, including 41 apartments, a gym, and a swimming pool with a volume of 100 cubic meters. The ground level will feature six retail stores.

Underground, there will be a parking facility for 188 vehicles (including ten accessible spaces), 34 bicycle racks, and infrastructure for high-efficiency energy systems. The project plans to supply 25% of its energy needs through renewable sources and photovoltaic installations. The total floor area of the complex will be 10,260 square meters, and construction is expected to take around two years after permits are granted.