Nicosia’s Old Municipal Market has been transformed into a new research, innovation and entrepreneurship centre following completion of restoration and upgrade works through the co-funded “THALEIA 2021-2027” programme.
The iconic building within the old city walls now houses key infrastructure for the CYENS Centre of Excellence, including laboratories, collaboration spaces, multimedia studios and a fabrication lab, at a total cost of approximately €6 million.
Strategic urban development
The project was implemented within the framework of the Integrated Territorial Development strategy for greater Nicosia’s urban area 2021-2030, with co-financing from the European Union, the state budget and Nicosia Municipality.
The restoration of the historic building combined with modern architectural approaches now hosts functions that strengthen the innovation ecosystem. The project forms part of the municipality’s initiative to create a “Creative Business District” and fits into the strategy for revitalising the walled city.
Platform for entrepreneurship
Project architect Giorgos Tsanggarides said the Old Market “gains new life” and now functions as a “hub of entrepreneurship and innovation”.
CYENS Research Director Giorgos Kirkos said the new infrastructure supports knowledge, strengthens the economy and encourages international networking.
International partnerships
CYENS represents a collaboration between Cyprus’s three universities – University of Cyprus, Cyprus University of Technology and Open University of Cyprus – and two international institutions, University College London (UCL) and the Max Planck Institute. It focuses on interactive media, smart environments, artificial intelligence, user experience and cultural technology.
The renewed space operates as an action platform for start-ups, research projects and cultural groups, aimed at promoting technological progress and the outward orientation of Cypriot innovation.
Multiple benefits
The project offers multiple benefits, including strengthening business innovation networks, creating new jobs, upgrading the urban fabric and enhancing synergies with related bodies and initiatives. The old market now serves as a reference point for Nicosia’s creative economy.