Andreas Andreou
No one doubts that Makarios Avenue in Nicosia is facing serious commercial challenges. This has been one of the city’s most discussed and critical issues for some time now. To be honest, the problem didn’t start with the recent renovation—as some casually claim—but has been developing for the past fifteen years. We’ve mentioned in previous articles that the rise of shopping malls played a decisive role, along with a series of poor planning decisions at multiple levels of local administration. Let’s not kid ourselves: Nicosia of the 1960s and 1970s, where people lived and worked in and around the city center, is not the same as the Nicosia of the 1990s onward, which stretches some 25 kilometers from the center.
Still, the topic becomes especially relevant as the Christmas season approaches. The concern is that despite the completion of the major renovation, which transformed the avenue into a modern boulevard with wider sidewalks, improved lighting, greenery, and dedicated bus lanes, Makarios Avenue has yet to regain its former commercial vibrancy.
The main issues revolve around accessibility and the tenant mix. Revitalizing the avenue requires a comprehensive plan, including traffic management, economic incentives, and attracting visitors who will bring the street back to life.
Accessibility and Parking
The most pressing challenge, according to business owners, is easy access for consumers. Immediate solutions are needed:
- Parking: Abundant, affordable, and clearly marked parking spaces should be available around the avenue—side streets, underground lots, and with reduced rates for visitors to Makarios. While some progress has been made, it’s still far from sufficient. Private parking is expensive and dwindling due to ongoing developments, and the municipality, failing to learn from past mistakes that stifled the city’s inner revival, continues to penalize “illegal” parking with heavy fines even during late hours, such as after 9 p.m.
- Smart Mobility: The Smart City system, real-time parking information, and other digital mobility tools needs full and effective implementation. Public transport, including buses and minibuses using dedicated lanes, must be strengthened.
- Traffic Management: Business owners continually request a review of the current regulation allowing only buses and authorized vehicles. While I personally question whether this is the ultimate solution, alternatives such as one-way streets or pedestrian-only access on weekends could be considered, combining sustainable mobility with commercial activity.
Economic Incentives and Tenant Diversity
To bring quality businesses back, high rents and the prevalence of vacant properties must be addressed:
- Tax Incentives: Reduced municipal fees or direct grants from the municipality or government for businesses opening new stores on Makarios Avenue, especially small and medium enterprises.
- Tenant Mix Strategy: The municipality should work with property owners to encourage a balanced mix of shops:
- Experiential Retail: Stores offering experiences, concept stores, showrooms, and tasting spaces.
- Entertainment/Food & Beverage: Quality restaurants, cafes, and bars with sidewalk seating, operating late.
- Services/Culture: Cultural spaces, creative offices, and services for permanent residents.
Creating Life and Experiences
A street thrives not only on the stores it hosts but also on events that attract people:
Events and Festivals: Regular activities such as first-Friday-of-the-month events or weekend festivals:
- Street food festivals
- Pop-up markets featuring crafts and local products
- Art installations, open-air galleries, and live music performances
Connecting to the Urban Center
Clear, attractive routes should link Makarios Avenue to Eleftheria Square, the Old City, and Stasikratous Street, allowing visitors to enjoy the entire “commercial triangle” on foot. Although infrastructure improvements have been made, refinement is still needed.
Encouraging Residency
Incentives should attract young residents to live in the city center. Historic building restoration and student housing must also be promoted. A street only truly comes alive when it is inhabited.
Makarios Avenue is now a high-aesthetic space designed for sustainable mobility. What it lacks is a strong economic strategy and active promotion to fill it again with quality businesses and, most importantly, people. Only then can it regain and evolve its lost commercial glory.
—Andreas A. Andreou, MRICS, CEO of APS Andreou Property Strategy – Chartered Surveyors
*Read the Greek version here.
