Nicosia, Cyprus. The transformation of Nicosia’s old municipal market into the Cyens research and innovation centre has been selected among Europe’s top 25 social cohesion projects for 2026.
The Finance Ministry said the EU co-funded project has qualified for the final phase of the Regiostars Awards 2026.
Regiostars Awards final
Cyens Hub Nicosia was selected from 274 candidates from across Europe and will compete in the A Competitive and Smart Europe category.
Finalists will present their projects to a panel of judges in Brussels on October 13 during the European Week of Regions and Cities. Winners in five categories, as well as the public choice project, will be announced on October 14.
“This distinction is an important European acknowledgement for a project that combines preserving architectural heritage with urban revitalisation, research, innovation and entrepreneurship,” development director Anthi Philippidou said.
Market redevelopment
The project was implemented through the Thalia 2021-2027 programme, co-funded by the European Union, Cyprus and Nicosia municipality.
With an investment of €7.8 million, the historical building in Nicosia’s walled old town was converted into a research and innovation ecosystem while retaining its historical character and incorporating modern architectural and operational specifications.
The buildings include research facilities, seminar halls, multimedia studios, exhibition areas and specialised infrastructure for research, technological development and innovative businesses.
Urban development strategy
The ministry said the project has created opportunities for cooperation among researchers, universities, businesses, creators and society, while supporting job creation and links with other projects.
It forms part of Nicosia’s urban development strategy and is intended to link cultural heritage protection with innovation, economic growth and sustainable revitalisation.
Cyens is central to Nicosia municipality’s Creative Business Neighbourhood initiative, which the ministry said contributes to revitalising the walled city and promoting the capital as a regional centre for creativity, technological advancement and entrepreneurship.
