Larnaca has taken a decisive step toward establishing the new public School of Marine Sciences, Technology and Sustainable Development of the Cyprus University of Technology (CUT), following the official confirmation of funding for the project. The development is considered a major breakthrough that removes the final obstacle to the school’s creation in the Mackenzie area.
Although the government did not publicly state the amount, information indicates that EUR 16 million in financing has been secured through a loan to the Republic of Cyprus from the European Investment Bank. This loan is expected to cover the total capital cost of constructing the building and purchasing the required equipment.
The funding provisions are included in CUT’s 2026 budget and in the Medium-Term Fiscal Framework for 2026-2028. With this step, all outstanding issues related to establishing the new state university school in Larnaca have been resolved. Preparations can now move forward for the tendering of the building, which will be constructed on leased Turkish Cypriot land in the Mackenzie area, behind the main parking area of the coastal leisure venues.
The School of Marine Sciences, Technology and Sustainable Development has already secured Cabinet approval and was formally established following an amendment to CUT’s founding legislation, passed by the House plenary on 4 December. In an official statement, Larnaca Municipality expressed its gratitude to the President of the Republic, the Minister of Finance and the Minister of Education for their support and decisive actions that enabled the fulfilment of what it described as a longstanding demand for the city.
The municipality noted that it remains steadfastly committed to the establishment of the school and will continue cooperating closely with all relevant authorities to ensure the project progresses smoothly for the benefit of the city, the academic community and Cypriot society at large.
The building is expected to be completed in 2028.