Islamabad is poised to become a hub for innovation and entrepreneurship with the upcoming establishment of Pakistan’s largest IT Park in Sector G-10.
The Ministry of IT and Telecom, in collaboration with the Special Investment Facilitation Center (SIFC), is taking a proactive step by leading a visit to the proposed site next week. This industry-focused visit will bring together key players and potential partners to explore the exciting development of the IT Park.
The initiative follows the Capital Development Authority’s (CDA) recent call for Expressions of Interest (EOI) from qualified companies to develop and manage the IT Park. While no proposals have been submitted yet, several companies have already expressed strong interest in the project. The CDA is anticipating proposals from these companies soon.
Planned for a 3.3-acre plot, the IT Park boasts a sprawling core area of 100,000 square feet. Once operational, the IT Park is expected to accommodate a thriving tech community, with estimates suggesting
it will house between 5,000 and 6,000 IT professionals, including freelancers, startups, software houses, and small and medium enterprises (SMEs).
Operating under a public-private partnership model, the IT Park aims to foster a dynamic environment conducive to growth and collaboration. The vision is to provide a comprehensive suite of amenities catering to the diverse needs of tech companies and their employees.
This includes shared co-working spaces, incubators specifically designed to nurture budding startups, dedicated office spaces for established SMEs, research centers to drive innovation, auditoriums for industry events, and recreational facilities to promote work-life balance.
The CDA is seeking a reputable and experienced entity, either individual or through a joint venture, to transform the existing grey structure on the designated plot into a state-of-the-art IT Park adhering to international standards.
The leasing terms specify an ‘As Is’ rental agreement for the entire 3.3-acre area, with an i
nitial 15-year term and a potential five-year extension subject to mutual agreement and CDA approval. The minimum monthly rent is set at approximately Rs. 16,581,813.
Source: Pro Pakistani