Real Estate · Cyprus
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16 July
Concerns grow as shopkeepers warn of potential infrastructure collapse amid the ongoing Ledra-Onassagorou redevelopment.
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The planned redevelopment of the Ledra and Onassagorou pedestrian streets in Nicosia has sparked significant backlash from local shopkeepers, who express concerns over the timing and potential disruption to their businesses. While many recognize the necessity of upgrading the historic commercial area, they are demanding assurances about the duration of the construction and its effects on operations during the project. The dispute has intensified despite the Municipality's acknowledgment of the need for infrastructure improvements.
Shopkeepers are particularly critical of the initial design and budget allocated for the redevelopments, insisting that a more robust financial commitment and clearer plans are essential for their buy-in. In response to these concerns, officials, including spokesperson Prountzos, have acknowledged the criticisms and indicated that dialogues could lead to adjustments in planning to better accommodate local business interests. The situation remains fluid as both sides seek a resolution before the project commences.
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