The Nicosia Municipality announces the completion of the open tender process for the concession and utilisation of the five premises at the old GSP Stadium, marking another important step towards the full activation and upgrading of this iconic site in the heart of the capital.
The tender was launched on 20 February 2026 through the Electronic Public Procurement System (eProcurement), with the award criterion being the most financially advantageous tender, based on the best price–quality ratio. The announcement of the tender was preceded by a consultation process with economic operators, as part of the preparation and formulation of the tender terms.
As part of the process, one bid was submitted by PHC Franchised Restaurants Public Ltd. Following the required evaluation, the bid was deemed to meet the tender requirements. During its meeting on 30 July 2026, the Nicosia Municipality Tenders Committee decided to award the contract to the company.
The concession agreement has an initial duration of ten years, with the option of renewal for up to three additional five-year periods, meaning that its total duration may extend to 25 years.
The use of the five premises represents a decisive step towards the old GSP stadium’s full operation as a modern, vibrant and high-quality destination in the heart of Nicosia.
PHC Franchised Restaurants Public Ltd’s experience and expertise are expected to contribute to enhancing the visitor experience, increasing footfall and further boosting the surrounding area and the city centre.
