Cyprus’s Ministry of Energy, Commerce and Industry has announced an extension of the deadline for submitting proposals for the creation and operation of the Pentakomo Science and Technology Park. The new deadline is 28 January 2026, replacing the previously set date of 10 December 2025. The decision was taken to give participants more time to prepare comprehensive proposals.
Updated documents and new clarifications for participants
An additional updated document has been published for all interested companies, including an amendment to paragraph 6.1 of Part A of the tender documentation. Clarifying answers to participant queries have also been released. These updates allow potential investors to better understand the project’s technical and legal requirements and to clarify details of the future cooperation model with the state.
What the Pentakomo Science and Technology Park project involves
The tender involves a competitive procedure with negotiation elements, aimed at selecting a strategic investor who will be responsible for constructing and subsequently operating the park. The Government of Cyprus expects the development to become a major hub for research centres, startups, high-tech companies and international corporations. The project is a priority within the national Innovation Strategy for 2025–2030. The park is intended to host laboratories, business incubators, pilot production facilities, and infrastructure to support collaboration between academia and industry. In recent months, authorities have enhanced the plan by adding possibilities for integration with new energy networks and the use of renewable energy sources, making the project even more attractive to international investors.
Importance of the project for Cyprus and the wider region
The creation of the Pentakomo Science and Technology Park is viewed as a key element in transforming Cyprus’s economy toward digital technologies, biomedicine, green solutions and innovative entrepreneurship. The project has the potential to elevate the island’s competitiveness in the Eastern Mediterranean, attract highly skilled professionals and stimulate investment in scientific development.