Nicosia: The transformation of Nicosia's Old Municipal Market into a state-of-the-art Research and Innovation Centre, now home to the CYENS Centre of Excellence, has been selected among the 25 best EU Cohesion Policy projects for 2026.
According to Cyprus News Agency, the project, implemented under the THALIA 2021-2027 Cohesion Policy Programme with co-financing from the European Union, the Republic of Cyprus, and the Nicosia Municipality, has reached the final stage of the REGIOSTARS Awards 2026. Officially named CYENS Hub Nicosia, the project was chosen from 274 submissions across Europe and is competing in the category "A Competitive and Smart Europe". Finalists will present their projects during the European Week of Regions and Cities in Brussels on October 13, with the winners announced the following day.
The Ministry described the nomination as significant European recognition for a project that successfully combines heritage preservation, urban regeneration, research, innovation, and entrepreneurship. With an investment of £7.8 million, the historic market has been transformed into a modern innovation hub while preserving its architectural heritage. Today, it houses research laboratories, collaborative workspaces, seminar rooms, multimedia studios, demonstration facilities, and specialized infrastructure supporting research, technology development, and innovative start-ups.
The project forms part of Nicosia's Integrated Urban Development Strategy and demonstrates how EU Cohesion Policy investments can link cultural heritage protection with sustainable urban development and economic growth. Officials said the investment has strengthened Cyprus' research and innovation ecosystem, expanded CYENS' activities, and fostered collaboration among researchers, universities, businesses, and the wider community. It has also contributed to job creation, attracted businesses and researchers, and reinforced the regeneration of Nicosia's historic walled city.