Capital Development Authority (CDA) plans to construct Pakistan’s biggest IT park in the G-10 sector of Islamabad, the authority said on March 14.
The Islamabad IT Park, spanning over 3.3 acres, will be established through a public-private partnership in which the construction costs will be solely borne by private companies. Furthermore, after 15 years, the park will be fully transferred to the ownership of the Capital Development Authority (CDA).
The plan has already been approved and preparations are in full swing, CDA said.
Key Highlights of Islamabad IT Park
- The IT park would have a total covered area of 100,000 square feet.
- The IT park will offer working space for freelancers and also accommodations for startups.
- It will provide workspace for approximately 5,000 to 6,000 freelancers.
- The park will comprise software houses, a library, and exhibition areas for IT products.
- Dedicated zones for research centers, conference halls, and meeting rooms will also be available.
Private enterprises will have the opportunity to lease space within the park to establish their IT offices fuelling economic activity and job creation in the technology sector.
The CDA administration emphasized its commitment to modernizing Islamabad with state-of-the-art amenities to ensure that the citizens of Islamabad have access to all conceivable facilities.
In a recent meeting chaired by Prime Minister Shehbaz Sharif, stakeholders from the IT and Telecom sectors were tasked with devising a comprehensive strategy to increase Pakistan’s IT exports.
The Prime Minister, stressing the importance of empowering youth with IT education and skills, highlighted the positive outcomes of previous initiatives, including the resolution of banking-related issues for startups and freelancers.
With an ambitious target to surpass three billion dollars in IT exports, Prime Minister Shehbaz urged for further measures to attract investment and boost the sector’s growth. Legal and policy reforms were emphasized as critical components in achieving this goal, underlining the government’s commitment to nurturing Pakistan’s burgeoning IT landscape.
As construction commences on the Islamabad IT Park, anticipation mounts for the dawn of a new era in technological innovation and economic prosperity in the capital city.