Philenews

Old GSP Commercial Exploitation Competition Nears Completion

Published February 19, 2026, 09:19
Old GSP Commercial Exploitation Competition Nears Completion

The competition for the commercial exploitation of the old GSP spaces is in its final stages and is expected to be announced soon, pending approval from the Nicosia Municipal Council. The General Accounting Office has given the green light for the competition documents and terms, despite the initial delay. The goal is to have the commercial stores operational by the end of 2026 or early 2027, after the completion of the awarding procedures and the space configuration. The competition concerns five spaces primarily intended for restaurants and cafes, with the management being assigned to a single manager. This model has caused reactions, as some fear it will exclude smaller businesses and limit competition. The Municipality of Nicosia will deliver the spaces using the “cold shell” method, meaning in a basic construction form, without complete internal configurations. This means that the businesses that undertake the exploitation will have to take care of the complete configuration of the spaces. The process is expected to move quickly, with the final decision of the Municipal Council paving the way for the publication of the competition announcement. The successful exploitation of the old GSP is expected to breathe new life into the area and offer new commercial opportunities.