Finance Minister Makis Keravnos has formally briefed Parliament on how the historic Faneromeni building in walled Nicosia will ultimately be used. DISY MP Savia Orphanidou requested the briefing as part of parliamentary oversight.
According to the minister, the building is slated to host two academic entities of the University of Cyprus whose activities align with the area’s historic and cultural character: the Department of History and Archaeology and the Archaeological Research Unit.
In his letter, Keravnos stressed that the Ministry of Finance has never backtracked from either the Memorandum of Cooperation for the Regeneration and Revitalisation of walled Nicosia or the lease agreement for the listed Faneromeni building. On the contrary, he noted, revitalising the historic centre is a strategic priority that must be delivered through rational planning, taking into account social and cultural considerations as well as the state’s fiscal capacity.
What was agreed
Within this framework, Keravnos wrote, the signatories to the Memorandum of Cooperation agreed to house the two academic entities in the building. The decision is expected to help attract a significant number of students to the walled city – comparable to the intake initially envisaged for the Department of Architecture – while avoiding the construction of new facilities and thus keeping overall costs within the original plan.
Keravnos added that the space programme for the project’s end users has now been completed. The implementing body – the Holy Archbishopric of Cyprus – is expected to submit the cost estimate and the corresponding timeline. “The Ministry of Finance will then assess the data and proceed with the necessary steps for the further implementation of the project,” the minister concluded.