The signing of a loan agreement between the Ministry of Finance, the Cyprus University of Technology (CUT), and the European Investment Bank (EIB), amounting to €125 million for the implementation of several infrastructure projects, marks the beginning of a new development path for the University, according to a CUT announcement.

Following this development, the University has made two decisions directly related to its development planning.

Specifically, the University Council has approved the tender process for procuring Project Manager services from companies with specialized knowledge and experience for the infrastructure projects that have been approved for financing by the EIB, as well as for the faster implementation of projects in the University's second development area.

At the same time, the University has decided to retain the building of the former Limassol Cooperative Savings Bank on Arch. Kyprianou Street, as well as the building of the Limassol First Technical School. The central building of the Technical School, which is an architectural monument from a previous era, is expected to be ready for use around 2026.

The University notes that these buildings will be utilized to meet its housing needs, preserving their architectural features and with full respect for their history.