Renovation of Nicosia’s Eleftheria Square has begun once again, following several previous attempts to reinvigorate the abandoned project located in the heart of the capital. According to an official Nicosia Municipality announcement, the project’s development contract – valued at € 13.5 million – has been awarded to prominent Cyprus construction firm Lois Builders Ltd.
Currently surveying the square and its surrounding land, Lois Builders is expected to complete the project in 64 weeks.
Construction work is to be monitored closely by the Accountant General and State Auditor General, who shall oversee the distribution of state funding as well as EU subsidies, accounting for 85% of the project’s funding.
The masterplan for the renovation of Eleftheria Square has been created by renowned Iraqi-British architect Zaha Hadid.
“Eleftheria Square constitutes a dramatic and historically significant architectural intervention – an aspiration to reconnect the ancient city’s massive fortified Venetian walls and moat with the modern city beyond – a bold vision of coherence and continuity which can become a catalyst to unify the last divided capital of Europe,” Hadid’s evaluation of the project reads.
Once completed, the project is to constitute an open area of 35300m2 and interior area of 7175m2.
Initially projected to be completed by March 2013, the project was annulled in August 2014 due to increasing building costs.
Discussion of the square’s renovation began decades ago, with the Nicosia Municipality issuing tenders in 2004, aiming to complete the project in time for Cyprus’ rotating presidency of the Council of the EU, in 2012.
About Lois Builders
Founded in 1977 by Sotos LOIS, LOIS Builders Ltd is one of the most established and highly regarded construction companies in Cyprus. The company is characterised by exceptional service, skilled committed personnel and a forward thinking approach.
The company's foundation values of integrity, dedication, team work, shared success and excellence through continuous improvement and development are perfectly aligned with LOIS Builders’ vision: “to add value and quality of life through construction”.
Published by goldnews.com.cy, January 2015