ISLAMABAD: In a move to redefine Pakistan’s technology landscape, the country’s largest IT park has been set up in Islamabad under the auspices of the Special Investment Facilitation Council (SIFC).
Operating on a public-private partnership model, this ambitious project targets approximately six thousand freelancers and equips them with state-of-the-art facilities and resources. It is poised to become the core of innovation and development in the country’s burgeoning IT sector.
The envisioned IT Park aims to cultivate an environment conducive to creativity and collaboration, fostering a vibrant ecosystem where ideas thrive and synergies emerge, driving the industry forward.
Key negotiations are currently underway between key stakeholders including the Pakistan Software Export Board and the Ministry of Information Technology and Telecommunications to ensure the smooth implementation and success of this groundbreaking project.
The approval of Islamabad’s largest IT park, with its promise to transform Pakistan’s technology landscape and strengthen its growing IT workforce, is a testament to the country’s commitment to fostering innovation and driving economic progress in the digital age.
The Capital Development Authority (CDA) has started the process of leasing a gray structure with a roofed area of over 97,000 square feet, equivalent to 3.3 acres, located in G-10 Markaz, Islamabad, with a vision to convert it into a carving shop. peripheral IT park.
The move follows the CDA board’s recent approval to set up Pakistan’s largest IT park in the area.
Meanwhile, the CDA has invited Expression of Interest (EOI) from companies interested in leasing the property for an initial period of fifteen years. The selected tenant will be tasked with transforming the gray structure into a state-of-the-art IT park meeting international standards and best practices.
According to a spokesman for the federal peak agency, interested parties are expected to have a solid and experienced background in the industry, either as individual entities or through joint ventures. The envisaged IT park aims to offer a comprehensive range of facilities to meet the diverse needs of technology companies and their employees, including shared co-working spaces, start-up incubators, SME office space, research centres, auditoriums, recreational facilities and more.
The terms of the lease dictate that the gray structure will be leased “as is,” with bidders required to bid on the entire 3.3-acre site. The lease term is initially set at fifteen years with the possibility of extension for a further five years upon mutual consent and approval by the relevant CDA authority. The minimum monthly rent is approximately Rs. 16,581,813.
