The consortium that submitted a bid for the Pentakomo Technology Park tender has reaffirmed its intention to press ahead with the project, while calling on the state to formally update it on the next steps. The Ministry of Energy, Commerce and Industry ran the tender that the consortium responded to.
In a letter to the ministry's director-general dated 25 June 2026, the consortium says it maintains "firm interest and commitment" to carrying out the project, noting that its proposal was submitted in line with the tender's terms and, in its own assessment, fully meets the technical specifications and evaluation criteria.
The consortium says the investment scheme was put together after months of effort to attract international investors, and consists of Al Sharif Group of Saudi Arabia, BBF Construction CY Ltd and Pisces Power Investments Ltd of Cyprus, the University of Limassol, Abdali Investment & Development of Jordan, and MWAN Chain Technology LLC of the United Arab Emirates.
The letter also states that the Dubai Integrated Economic Zones Authority (DIEZ) is not a member of the consortium, but has sent it a letter of intent expressing willingness to cooperate on the project, which the consortium presents as reinforcing the venture's international dimension.
No word in months
The consortium says it has not received any official communication in recent months, and points to media reports suggesting the process could be cancelled, saying no documented information to that effect has been provided to it. It is therefore requesting a formal update on how the process is progressing and a timeline for the next steps.
The letter describes the Pentakomo Technology Park as a project of strategic importance for the Cypriot economy, pointing to the public support it has received at various points from economic bodies and the House of Representatives. Completing the process, the consortium argues, would send a positive signal to the international investment community about Cyprus's credibility as an investment destination.
The consortium is also proposing formal consultations involving the relevant ministers and deputy ministers, to examine the state's priorities, any technical or procedural issues, and the scope for adapting its proposal. It says it is willing to incorporate additional requirements, including hosting government infrastructure or research centres within the park, should this be deemed necessary to serve the public interest. It closes by asking for the process to be completed swiftly, expressing the expectation that its legal rights will be safeguarded and that the project will move forward through institutional dialogue and cooperation.
