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€380m Limassol Metropolis development to attract high tech companies

Limassol Metropolis is planning an integrated and complex mixed-use development in Limassol, aimed at attracting more high tech companies to Cyprus.

More specifically, an Environmental Impact Study is currently under public consultation for the creation and operation of a massive development in the Agios Athanasios area. The study will be submitted to the competent Town Planning Authority as a general spatial planning study.

The project concerns the preparation of a master plan, which will determine the development of this area. The proposed general spatial planning includes the following main uses:

  • Schools of higher education
  • Schools and boarding schools
  • Research and Development Centres
  • Residential developments
  • Cultural centres
  • Business park - Market
  • Office space

The Higher Education School is planned to be combined with Primary and Secondary Schools, an Organised Sports Centre and will include Culture and Environmental Enrichment Projects, while the project includes Research and Development Centres (R&D) with High Technology Developments.

It is noted that the individual developments that will be carried out in the area, based on the proposed master plan, will be designed and implemented at a later stage, based on the spatial planning currently being evaluated.

A vibrant community with educational institutions

The proposed project will be located on Nikis Avenue, within the administrative boundaries of the Municipality of Agios Athanasios.

The cost of the entire project is estimated at €379,495,000, approximately.

The purpose of the proposed project is to create an integrated, complex and unified development with an emphasis on Education-Research & Innovation.

This is expected to be achieved through the establishment and operation of a University, various primary and secondary educational institutions, Research and Development Centres, Cultural Centres and other related facilities.

As stated in the environmental study, the vision of the Holy Metropolis of Limassol is the creation of a vibrant community centred on educational institutions and Research and Development Centres.

Attracting high-tech foreign companies

The strategic goals of this project are:

  • Meeting the growing demands for high-quality educational institutions and supporting the development of Cyprus as an attractive investment destination for foreign high-tech and IT companies.
  • Creating opportunities for strategic collaborations between different entities such as Universities and Research Centres and maximising synergies through shared resources and facilities.
  • Decentralisation and decongestion of the urban area, through the creation, to the greatest extent possible, of an autonomous community with supporting uses such as a shopping centre, sports facilities, residential developments and student residences, etc. This comprehensive approach aims to serve the residents and users of the development while absorbing significant activity from the neighbouring suburban areas.

Join Us

We invite tech companies and innovators globally to join us at the 2nd Cyprus: The New Global Tech and Innovation Hub Summit that will take place on April 25-26 at the luxurious Parklane Resort and Spa in Limassol, Cyprus.

The event presents a special chance to explore why Cyprus is quickly becoming the top choice relocation destination for ICT companies globally. With its strategic positioning, thriving business atmosphere, and supportive infrastructure, Cyprus provides unmatched opportunities for companies at all stages of growth.

International participation

Attendance at the Cyprus Tech & Innovation Hub Summit is by invitation. Click here to submit your registration and interest to attend this prestigious event. All registration applications are subject to approval by the Organiser and will be reviewed on a “first-come, first-served” basis. Attendance at the event will depend on availability of spaces and fulfillment of the target audience profile criteria.

For any queries and/or further information you might need, contact us via email at sophie@imhbusiness.com .

Local participation

This is a closed event where companies/ executives with offices in Cyprus can attend only as Sponsors/ Supporters.

For more information on sponsorship opportunities, contact:

Christopher Constantinou at 22505565 or via email at christopher.constantinou@imhbusiness.com.

INFORMATION

Organiser: IMH

Knowledge Partner: Invest Cyprus

Strategic Telecom Partner: Cyta Business

Innovation Partner: Research & Innovation Foundation

Ecosystem Partner: TechIsland

Gold Sponsors: Bank of Cyprus, KPMG Cyprus

Silver Sponsors: Energame, Pafilia

Supporters: IMR, Island Private School

Official Media Sponsors: Cyprus Business News, Gold magazine, IFC Media, IN Business magazine

Contact number: 22 505 555

Email address: events@imhbusiness.com

Website: www.imhbusiness.com

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