Dorita Yiannakou
A Caffè Nero, a wine bar, a perfume shop, and a full-service restaurant or cafe are planned for the revamped old GSP square, bringing new shopping and dining options to central Nicosia.
According to information obtained by Kathimerini, talks between PHC Franchised Restaurants Public Ltd and Nicosia Municipality over the use of the commercial premises are at an advanced stage. Both sides are working toward a deal, although some issues, mainly technical, remain unresolved.
The agreement is scheduled to be signed Friday, provided the outstanding matters are settled and all parties agree on the final terms.
What is planned
The proposed agreement covers four different businesses.
The first is what would be Cyprus’ largest Caffè Nero, intended as a meeting place for workers, businesspeople, young people, and families. Plans include comfortable seating areas with sofas, private spaces, facilities for business meetings and seminars, and a large outdoor garden. The aim is to create a versatile venue that draws visitors from morning until late at night.
The second proposal would turn an elevated space overlooking the square into a wine bar, making use of its views and attractive outdoor setting. The company is considering developing the venue with a specialist partner.
The third involves opening a modern perfume shop in a small ground-floor retail unit in partnership with an established company experienced in the sector. Visitors would be able to try fragrances, use samples, and make purchases, potentially with the help of automated and digital services.
The fourth is a dining venue, although its final format has yet to be decided. Whether it can operate as a cafe or restaurant will depend on its existing permits and technical specifications, which may require additional work.
Issues to be resolved include the available electricity supply, liquefied petroleum gas installations, drainage, and whether a grease trap can be installed.
Sources familiar with the plans told Kathimerini that the intention is not to open a fast-food outlet. The options under consideration are PAUL Bakery, Patisserie, Cafe & Restaurant, Wagamama, or Verde Caferesto. A final choice is expected after the technical requirements and necessary approvals have been assessed.
Separately, Nicosia Municipality has been holding preliminary talks with a European organization about using the premises on the side facing the Finance Ministry. No agreement has been reached.
Once PHC and the municipality sign the final agreement, the businesses are expected to take about a year to get up and running, allowing time for the necessary work, permits, and approvals.
Citizen service center on the ground floor
The capital’s second Citizen Service Centre, known as a KEP, is planned to open on the ground floor of the old GSP development in the first half of the year.
The center, one of the main projects intended to bring everyday services to the redeveloped site, had been expected to open around the end of 2026 but was held up by bureaucracy.
According to information obtained by Kathimerini, the electrical and mechanical engineering studies have now been completed by a private company appointed through a tender process.
Nicosia Municipality is expected to issue a new tender for construction in the coming period. This will cover electrical and mechanical installations, building alterations, and the layout and fitting out of the interior.
The center is expected to cost €650,000 plus VAT, or approximately €775,000 including VAT. That covers both the work on the premises and the equipment needed to operate the facility.
The amount is included in the approximately €30 million budget for the redevelopment of the old GSP site, which is co-financed by the European Union through the THALIA 2021-2027 cohesion policy programme.
