The Ministry of Interior announces the announcement of the 1st Call for Applications for the Sponsorship Scheme for Student Residences/Student Rooms in Nicosia.
The Sponsorship Scheme is part of the "Action Plan for the Revitalisation of Nicosia within the Walls" and aims, inter alia, to provide housing options for students at a reasonable and manageable cost, as well as the social and economic upgrading of the historic city centre, attracting students and investment.
The Project concerns the provision of incentives, in the form of a government grant, to property owners or tenants of buildings (with the signed consent of the owners) in the area of Nicosia within the walls of Nicosia, for the renovation of their premises or the construction of new buildings, with the main purpose of converting or creating, respectively, student halls of residence/student rooms.
The Project is included in the Cyprus Recovery and Resilience Plan for the period 2021 - 2026 and will have as main source of funding the European Union's Recovery and Resilience Mechanism, the central tool of NextGenerationEU. The minimum investment (eligible expenditure), both for the conversion of a building into student accommodation/student rooms and for the construction of a new building for use as student accommodation/student rooms, is set at €140,000. The maximum grant amount per beneficiary is €2.000.000.
The amount of the grant (grant intensity) will be as follows:
- 75% of the eligible costs of each Proposal for conversion of an existing building into a student residence hall/student rooms,
- 50% of the eligible costs of each Proposal for construction of a new building to be used as a student residence hall/student rooms.
Applications, under the 1st Call of the Grant Plan, will be submitted from May 2, 2022, through November 1, 2022. https:/hippodamus.tph.moi.gov.cy/ApplicationSubmission
Applicants must meet specific criteria and conditions in order to be eligible to become beneficiaries, which are detailed in the Guide to the Sponsorship Scheme. The Guide and its accompanying Annexes are available at www.moi.gov.cy/sxedialefkosia.
For further information or technical assistance regarding the Sponsorship Scheme, interested parties may contact the relevant officers of the TPO at the following telephone numbers and e-mail addresses:
Sponsorship Scheme Information:
Maria Xenophontos: 22409505, mxenophontos@tph.moi.gov.cy
Emily Siantou: 22409819
Technical support for online application submission:
Andrea Herodotou: 22409543, andreah@netu.com.cy
In addition, interested parties may also contact the Ministry of Interior (Administration) at the following telephone numbers: 22867600 / 22867612 / 22867879 / 22867834.
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