€1.8 BILLION SET ASIDE FOR DEVELOPMENT PROJECTS IN CYPRUS
THE CYPRUS THALIA PROGRAM
The Cyprus Thalia Program is an initiative that aims to improve and modernise the local environmental and digital landscape in Cyprus. The project aims to put a series of local developments in place across the island. It is envisaged that investments from the project will create increased employment opportunities. The project also aims to improve the social integration of all residents across the island.
EUROPEAN & LOCAL FUNDING
The Cyprus Thalia Program is expected to be made up of up to 160 smaller planned projects. It is estimated that these projects will help to boost the island’s GDP by an overall 6%. It is envisaged that the project will also create up to 8,500 new jobs by 2029. The European Union is providing the bulk of the €1.8 billion that has been set aside for the program. This is the largest European Union subsidy that Cyprus has received so far. The national budget will provide the rest of the fundsing for the project.
LARNACA EMBRACES THALIA
A SERIES OF WORKS FOR LARNACA
The city of Larnaca has fully embraced the Thalia Project and all it has to offer. A budget of up to €220 million has been earmarked to benefit the city. These funds will benefit up to 20 smaller projects that will include several works in and around the city. These projects aim to transform the daily lives of all residents, and it is hoped that this will offer multiple benefits and opportunities to the local community and the local economy.
THE REDEVELOPMENT OF THE PATTICHIO PARK AREA
The Pattihio Park area is to receive up to €6 million for its redevelopment. A new botanical garden, along with a small open space for events, is to be installed. It is hoped that this will help to create an active entertainment zone within the park. The new works will also include a new café restaurant and a children’s playground.
THE REGENERATION OF STREETS & SQUARES
Several works to improve the urban centre of Larnaca are to take place. Up to €11 million will be invested in the regeneration of Larnaca’s streets and public squares. These works include the rehabilitation of Zouhouri Square, which is expected to be completed by late 2026. This program will also include the improvement and reconstruction of existing roads. As well as this, pavements are to be widened, and the current rainwater system is to be upgraded. The installation of new electronic information points, along with the upgrade of current street lighting, will also take place. New road signage, along with new traffic arrangements, is also being considered. It is hoped that this will improve traffic flow in the urban centre. Another €4 million will also be invested in the redevelopment of the Acropolis and Alki Squares, along with the streets surrounding these areas.
A NEW MULTIFUNCTIONAL PARK IN TSIAKKILERO
A new multifunctional park in the ‘Tsiakkilero’ area is to be constructed. The new project, which is estimated to cost over €2 million, will oversee the creation of a new green area. The park will also benefit from a new children’s playground along with a series of new sports facilities. A refreshment area, walking and cycling routes, a dog park, and a small outdoor amphitheatre are also to be installed.
A NEW MUNICIPAL NURSING HOME
A new Municipal Nursing Home for Larnaca residents, consisting of 22 double and 4 single rooms, is to be constructed. Costing up to €6 million, the new facility will be able to accommodate up to 48 residents at any one time. The new modern building will include a doctor’s office, a recreational area, a kitchen, a dining room, and a staff office.
