Construction work on a new building for the Cyprus institute of neurology and genetics is set to begin immediately, the centre said on Tuesday.
The cost amounts to €19.4 million plus VAT and is expected to be completed in 30 months.
According to the institute, this is the biggest development project since its founding, and will see the creation of a modern research centre, spanning 11,358 square metres. It will be constructed next to the existing building in Ayios Dometios.
Funding for the project stems from the European investment bank with a €26m loan. The government is also supporting the project.
The deal has been signed between the institute and A. Aristotelous Construction ltd.