Consortium submits sole bid for Pentakomo science and technology park project

Pentakomo, Cyprus. A consortium of Cypriot and foreign companies has submitted the only offer to build and operate a science and technological park at Pentakomo, the government said on Monday. The bid is now being assessed.

Single offer under assessment

The government has for decades sought a strategic investor to build and operate a science and technology park at Pentakomo in the Limassol district.
In the latest tender, the deadline for submission of bids expired on January 28.
The commerce ministry said the offer under assessment was submitted by a consortium of Cypriot and foreign companies from Saudi Arabia, Jordan and the United Arab Emirates.

Related: Limassol Chamber Presses Government for Timetable on Pentakomo Science and Technology Park

RelatedLimassol Chamber Presses Government for Timetable on Pentakomo Science and Technology Park

Government objectives for the project

The ministry said the sole bid “confirms the heightened investment interest and the international appeal of the venture.”
It added that the strategic goal remains to implement a project of high added value that would enhance the country’s innovation ecosystem, create quality jobs and further boost the economy’s competitiveness.

Background and original aims

The idea to create a science and technology park dates back to 2006, with the stated aim of diversifying the economy by turning Cyprus into a centre for software development and hi-tech business.
Officials at the time had discussed the prospect of Microsoft participating in the venture, while Google had also been mentioned.
Another stated aim was to encourage more Cypriots to enter scientific research and to attract Cypriot researchers employed abroad to return.

What impact would a science and technology park at Pentakomo have on innovation and employment in Cyprus?