The Ministry of Energy, Trade, and Industry in Cyprus has announced a competition to find a strategic investor for developing and managing a Science and Technology Park in Pentakomo.
According to the tender documentation, the project aims to create an integrated ecosystem where businesses, scientists, and educators can interact effectively.
The selected investor will be offered a comprehensive package of incentives. These include financial subsidies of up to €10 million, tax incentives, and urban planning incentives, including an increased building coefficient of up to 0.45:1 and the possibility of developing up to 65,000 m². Support during the design phase and expedited permitting are also provided. Additionally, the investor will receive funding for infrastructure development, including road networks, energy supply systems, water supply systems, and administrative buildings.
The technology park will focus on four key areas:
- Energy and energy storage;
- healthcare and medical technologies;
- Nanotechnologies and advanced materials;
- Digital technologies, including software and game development.
Through close collaboration with universities and research centers, the new technology park in Pentakomo will serve as a hub for research and development (R&D), startups, and transnational projects. Additionally, enterprises will be encouraged to participate in international supply chains and enter foreign markets.
Investors will be able to implement renewable energy systems (RES) with capacities of up to 5 MW. Buildings that meet sustainable construction standards (LEED/BREEAM) will receive additional benefits. This supports Cyprus's commitment to environmental development and reducing operating costs.
The project will be implemented based on a 33-year lease agreement, with the possibility of extension. This will provide investors with stability and prospects for growth. Approximately 134,834 m² will be allocated for development, and the remainder will be allocated for roads and public spaces.
Applications from interested parties will be accepted until September 12, 2025. Tender documents will be accepted exclusively through the e-procurement system. For more information, call 22 867 233 or email ltheodorou@meci.gov.cy.
The Pentakomo project is a unique opportunity for investors ready to participate in an ambitious initiative changing the technological landscape of Cyprus.