The Ministry of Energy, Commerce, and Industry of Cyprus has announced an extension of the deadline for submitting proposals to participate in the tender for selecting a strategic investor responsible for the creation and management of a science and technology park in Pentakomo. The new submission deadline is December 10, 2025, replacing the original date of November 12.
This is a large-scale national project aimed at advancing high technology, scientific research, and innovation. The future Pentakomo Technopark is expected to become a hub for startups, research institutes, and international companies working in IT, energy, biotechnology, and green technologies.
The tender for a strategic investor
According to the Ministry’s official announcement, the tender is being conducted through an open competitive procedure with the possibility of negotiations. This means that potential investors can not only submit their proposals but also discuss cooperation details directly with state representatives.
To facilitate participation, the eProcurement electronic tendering system has published an additional document — Addendum 2, which provides clarifications to the tender conditions. In particular, it introduces amendments to section A, clause 6.4 of the tender documentation and includes answers to questions submitted by interested parties. This update reflects the high level of investor interest and the active engagement of the business community in the project.
Importance of the project for Cyprus’s economy
The establishment of a science and technology park in Pentakomo is considered one of the key steps in strengthening Cyprus’s position on the international innovation map. The project will foster cooperation between universities, research centers, and the private sector, while also attracting foreign investment.
It is designed to diversify the Cypriot economy, promote new industries, create high-skilled jobs, and support small and medium-sized enterprises. According to the government’s vision, the Pentakomo Technopark will become Cyprus’s answer to Europe’s leading scientific clusters — a modern hub where science and business unite to drive technological advancement.
Expectations and next steps
The Ministry emphasizes that extending the application deadline to December 10 will give all interested parties more time to prepare competitive proposals. After the submission period closes, the negotiation phase with potential strategic investors will begin, during which their technical, financial, and organizational capacities will be assessed.
The government expects to select the winning investor in early 2026, with construction of the technopark scheduled to begin by the end of that year.
Innovation as Cyprus’s strategic priority
The development of technological and scientific clusters is part of Cyprus’s long-term strategy to strengthen its role as a regional innovation hub in the Eastern Mediterranean. The government is actively promoting initiatives related to digitalization, the green economy, and sustainable development, creating favorable conditions for both investors and researchers.
The Pentakomo Science and Technology Park will become a symbol of a new stage in Cyprus’s development — a place where education, science, and entrepreneurship come together to shape the island’s innovative future.