[PIO] Call for Applications to the Sponsorship Scheme for Student Residences/Student Rooms in the Walled City of Nicosia

The Ministry of Interior announces the announcement of the 3rd Call for Applications to the Sponsorship Scheme for Student Residences/Student Rooms in the walled city of Nicosia.

The Sponsorship Project 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 instrument of NextGenerationEU. The Project is promoted under Measure C3.4I6 "Regeneration and Revitalisation of the Walled City of Nicosia". The total amount allocated for the needs of the Project is €15 million.

The Project concerns the provision of financial assistance to natural or legal persons, owners or tenants of buildings (with the signed consent of the owners), in the area covered by the Project, for the renovation/restoration of their buildings, with the main purpose of converting them into Student Residences/Student Rooms.

The main objectives of the Project, in relation to its scope, are the social and economic upgrading of the area by attracting students and other related investments, the upgrading of the built environment by contributing to the circular economy and green growth, and the provision of affordable housing options for students at a rent-controlled rate, as determined by the Ministry of Finance from time to time.

For the conversion of an existing building into student accommodation/student rooms and for an expansion area of up to 30% of the existing building, the grant will be 75% of the eligible costs of the proposal, while for an expansion area of more than 30% of the existing building, the grant will be 50% of the eligible costs.

This is designated as the 3rd Call for Proposals, under which applications will be submitted from 28 February 2024 until the budget is exhausted. The 3rd Call for Proposals is for a total budget of €11.3 million.

Submission is ONLY possible online at https:/hippodamus.tph.moi.gov.cy/ApplicationSubmission.

Applicants must meet specific criteria and conditions in order to be eligible to become a beneficiary, which are detailed in the Grant Scheme Guide. 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 TPO at the following telephone numbers and e-mail addresses:

Sponsorship Scheme Information:

Elina Triantafyllidou 22408205 etriantafyllidou@tph.moi.gov.cy

Technical support for online application submission: ippodamos@tph.moi.gov.cy.

(MKY)
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