The old GSP stadium redevelopment project in the heart of Nicosia is starting to feel like an urban myth.

It was reported on Monday that the project, launched under the “Thalia 2021-2027” cohesion policy programme with the backing of the European Union, will be ready in two weeks. However, this timeline seems unrealistic given the current state of construction on Evagorou Street.

On Monday, journalists were given a rare glimpse into the site’s progress by the finance ministry’s official of the development department Penelope Papavasiliou and Nicosia mayor Charalambos Prountzos.

“We understand the frustration of the public,” said Papavasiliou.

“This is a complex project that requires careful planning to ensure it meets all safety, sustainability, and accessibility standards. Our goal is to deliver a space that will serve Nicosia for generations to come.”

Originally envisioned as a dynamic urban hub blending history with modern city living, the project includes a small museum honouring the GSP’s history, a citizen centre, a children’s playground, a restaurant and an outdoor amphitheatre. A massive audiovisual system with a projector, extensive lighting setup near the old central clock from the original stadium, and a giant screen positioned opposite the existing stadium barriers were meant to turn the space into an open-air entertainment hub. A cascading water feature running along the grand stairs was designed to form a water curtain before being channelled into an underground reservoir, regulating the microclimate and ensuring comfort year-round.

While the plans are undoubtedly ambitious, their realisation has been anything but swift. Questions remain over why a €27 million project, co-financed through the “Thalia 2021-2027” programme, is taking longer to complete than some city redevelopments. The European Union’s cohesion policy funds cover 60 per cent of the cost, with the national budget of Cyprus contributing 25 per cent, and the Nicosia municipality financing the remaining 15 per cent.

Mayor Prountzos maintains that the project is on course with a completion deadline of next month, insisting that the redevelopment is a key part of Nicosia’s broader urban renewal efforts, following the renovations of the Makariou-Stasikratous-Evagorou triangle, Eleftheria square and Solomou square’s transit hub.

Penelope Papavasiliou and Nicosia mayor Charalambos Prountzos

“We are not just constructing a park; we are shaping the identity of the city,” Prountzos asserted.

“When complete, this space will be a cultural and social hub, bringing the people of Nicosia together in a way never seen before.”

The final design, chosen through an architectural competition, was led by architects Yiannis Kizis and Konstantis Kizis, with Cyfield Construction Development J.V. managing the work.

The project also includes an extensive landscaping initiative with pine trees and other plant species to maintain the site’s historical charm while ensuring full accessibility for individuals with disabilities. The existing 560-space parking facility will remain intact, and photovoltaic panels installed on the pergola will contribute to the site’s sustainability efforts.

Papavasiliou reiterated the project’s commitment to sustainability: “We are incorporating innovative energy solutions, extensive green spaces and smart design elements to make this a flagship example of eco-friendly urban development.”

As of February 2025, the redevelopment is “nearing completion”, but many in Nicosia will be forgiven if they remain sceptical.