The Ministry of the Interior announces the announcement of the 3rd Call for Applications to the Grant Scheme for Student Residences/Student Rooms in the walled city of Nicosia.
The Grant Scheme is included in the Cyprus Recovery and Resilience Plan for the period 2021-2026 and is funded by the European Union's Recovery and Resilience Mechanism, the central tool of NextGenerationEU. The Plan is promoted within the framework of Measure C3.4I6 "Regeneration and Revitalization of Nicosia within the walls". The total amount that will be allocated for the needs of the Plan amounts to €15m.
The Plan concerns the provision of financial aid to natural or legal persons, owners or tenants of buildings (with the owners' signed consent), in the area covered by the Plan, for the renovation/rehabilitation of their properties, with the main purpose of converting them into Student Residences/ Student Rooms.
The main objectives of the Plan, in relation to its object, are the social and economic upgrading of the area by attracting students and other relevant investments, the upgrading of the built environment by contributing to the circular economy and green development, and the provision of affordable housing options for rent-controlled students, as determined from time to time by the Ministry of Finance.
For the conversion of an existing building into a student residence/student rooms and for an extension area of up to 30% of the existing building, the amount of the sponsorship will amount to 75% of the eligible costs of the proposal, while for
expansion area beyond 30% of the existing building, the grant will amount to 50% of the eligible costs.
This is defined as the 3rd Call for Proposals, in the context of which applications will be submitted from February 28, 2024 until the budget is exhausted. The 3rd Call for Proposals concerns a total budget of €11,3m.
The submission is made ONLY online, at the link https://hippodamus.tph.moi.gov.cy/ApplicationSubmission.
Applicants must meet specific criteria and conditions in order to be eligible, which are listed in detail in the Grant Scheme Guide. The Guide and its accompanying Appendices are posted on the website www.moi.gov.cy/sxedialefkosia.
For more information or technical assistance regarding the Grant Scheme, interested parties may contact the TPO at the following telephone numbers and e-mails:
Information on Sponsorship Scheme: Elina Triantafyllidou 22408205 etriantafyllidou@tph.moi.gov.cy
Technical support for electronic submission of Application: ippodamos@tph.moi.gov.cy.