IT Park will be built via a joint venture using the Public-Private Partnership framework.
The Capital Development Authority (CDA) declared on Wednesday that it would build the biggest IT park in the nation in Islamabad.
Much awaited, the CDA has approved the construction of a large IT park that will occupy 3.3 acres in the centre of Sector G-10, Islamabad.
The administration emphasised the endeavor’s strategic importance and revealed that careful preparation has already been done, with a specific land reserved for the massive project.
Government vision and private sector skills will come together to create the soon-to-be Islamabad IT Park, which will be built collaboratively under the Public-Private Partnership model.
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Designed to be a hive of technological innovation, the park will accommodate between 5,000 and 6,000 software houses, startups, and freelancers over an astonishing one lakh square feet of covered space.
In their remarks, CDA representatives clarified that the IT park will function as a dynamic environment that fosters innovation and expansion.
Modern amenities will be among the park’s many features. These will include a library, exhibition areas for IT products, and specific areas for research centres, conference rooms, and meeting spaces.
In addition, the CDA made it clear that private companies will bear all of the costs associated with building the Islamabad IT Park, highlighting the initiative’s emphasis on cooperation.
The agreement calls for private businesses to lease space in the park for the establishment of their IT offices, spurring economic growth and the creation of jobs in the rapidly expanding technology industry.
As a proactive move, the CDA disclosed that operational responsibility of the IT park will be transferred to the authority after 15 years upon completion, demonstrating a sustained commitment to advancing Pakistan’s technical infrastructure.