According to a Nicosia Municipality announcement, the five companies that submitted tenders, in alphabetic order, are: A. Aristotelous (Construction) Ltd., Α. Panayides Contracting Ltd., Cybarco Ltd., Cyfield Development Public Ltd., and Lois Builders Ltd.
The project involves the construction of a two-storey underground parking lot for 157 vehicles including seven buses. This will be constructed under Omirou Avenue, between Solomos Square and Evagorou Avenue. Access to the lot will be via the avenue.
The parking lot will also include public toilets on the side closed to D’Avila Moat as well as stairs and lifts.
Within the framework of the same works, Omirou Avenue will be widened and new pavements and lighting constructed along it.
According to the municipality, the project may be partly funded by the European Regional Development Fund, the state budget, and Nicosia Municipality through the Competitiveness and Sustainable Development operational programme for 2014-2020.