In 2005, the Kalaydjian Rest Home underwent a major renovation and expansion with the addition of a second floor, thus increasing its capacity from 12 to 22 rooms.

The official inauguration of the new wing took place on the 28th of June 2006 and was led by the late President of the Republic of Cyprus Mr. Tassos Papadopoulos, with the religious blessings of the Archbishop of the Armenian Prelature in Cyprus Varoujan Hergelian and the Bishop of Kykkos Nikiforos. Also present were the Ministers of Health and Labour, party leaders and representatives, the Mayor of Strovolos, the Director General of the Ministry of the Interior, and the Law Commissioner. They were joined by many members of the Armenian Community including past and current representatives.

"During my long-standing cooperation first with Aram and later with Bedros, I had the opportunity to learn how dedicated they both were to the Armenian Community", President Papadopoulos said in his opening speech.

The government of Cyprus contributed 170,000 euros to the project, against a total cost of around 700,000 euros.

Roupen Kalaydjian, the Chairman of the Foundation, noted in his address that "the Kalaydjian Rest Home has now increased its capacity from 12 to 22 rooms enabling it to care for up to 40 people, including Greek Cypriots".

He thanked the Cyprus government for its assistance and stressed that by opening the Home to Greek Cypriots as well, the Armenian Community was trying to repay some of the help and care that the Cypriot people had shown to their grandparents who sought refuge on the island during and after the Armenian Genocide of 1915.

Speaking in Armenian, Tigran Kalaydjian paid tribute to "one of the most beautiful visions" of the brothers Bedros and Aram Kalaydjian, which had started twenty years ago and had now been realised with the completion of the new floor of the Rest Home.

"We the heirs", he said, "are extremely proud of our fathers but are saddened that they are not here to share this wonderful moment with us".

During the opening ceremony, Mrs. Helen Nshanian, who offered her services as manager from 1988 to 2008, and Dr. Vahakn Atamian, who offers his medical services to the Rest Home, were both honoured.

The new floor was named after sisters Arousiak and Alice Rafaelian, who bequeathed their house on Armenia Street in Nicosia to the Foundation.