Members of the Finance Parliamentary Committee have approved the release of a €3.7 million fund for the purchase of the building that housed the central offices of the former Laiki (Popular) Bank.
This amount constitutes the first instalment for the acquisition, with the total purchase cost reaching €18.5 million.
The building, situated at the intersection of Limassol and Athalassa Avenues in Nicosia, will address the housing needs of the Public Service.
Initially, employees and services of the Ministry of Foreign Affairs will be relocated to the former Laiki Bank building until the completion of repairs and renovations to the ministry’s current premises.
To finalize the agreement, the Strovolos Municipality must issue the final approval certificate.
Additionally, the building’s owner is required to undertake an energy upgrade, reaching an energy efficiency level of Class B, an improvement from the current Class C.
