The Ministry of Finance has approved the construction of a new training campus for the Cyprus University of Technology (TEPAK) in Limassol.
The project is estimated to cost €27 million and will take around 24 months to complete.
According to the release, the state-of-the-art building will house the faculties of Multimedia and Graphic Arts, as well as Geotechnical Sciences and Environmental Management. The new spacious facility will be built on private land owned by the university, next to the Third Primary School of Limassol. Incidentally, the tender has already been issued and all the necessary permits have been obtained, so nothing stands in the way of a major project.
It is worth noting that this initiative is part of TEPAC's infrastructure strategy to meet the University's growing needs for teaching space, to create a modern environment for teaching and research, and to gradually reduce its dependence on rented property.
Through this project, TEPAK aims to meet current and future academic needs," said the institution's management.
It should be recalled that TEPAK had earlier signed a long-awaited contract with the Wade Adams - Miltiades Neophytou JV consortium to build student accommodation in Limassol.
The project has been designed by Iraclis Papachristou Architects. The modern dormitories will be built in the former village of Verengaria. They will accommodate 485 students. In addition to living rooms, the buildings will have several laboratories and halls. A number of other common facilities will be provided around the buildings to create a comfortable atmosphere for the students.
The cost of the project is estimated at 56.3 million euros. Funding for the project has been provided by the European Investment Bank and the Development Bank of the Republic of Cyprus. The project is expected to be completed by the end of 2025.