Ministry of IT and Telecommunication has accelerated the development of Islamabad’s IT Park, with a target completion date of September 30 for the building’s structural framework.
According to ministry officials, construction is progressing swiftly, with seven stories already in place. The next two floors are expected to be completed within the next two months. Once the grey structure is finished, work on the interior will begin. Prime Minister Shehbaz Sharif has issued a directive to complete the entire project by the end of the year, rather than the originally planned June 2025.
The 11-story IT Park, including two underground levels, will span 66,893 square meters. It will provide office space for over 120 startups and SMEs, as well as essential facilities like testing labs, classrooms, and an industry-academia linkage center.
Funded by a $76.3 million loan from South Korea’s Exim Bank, with Pakistan contributing $12.5 million, the project aims to bridge the IT infrastructure gap, foster technology transfer, and support the growth of the IT sector. Expected to generate over 5,000 jobs during construction and an additional 5,000 upon completion, the IT Park is projected to create 10,000 high-skilled jobs and boost IT exports by $70 million annually.
The groundbreaking ceremony for the IT Park took place on May 26, 2021, with the participation of IT Minister Syed Amin Ul Haq and South Korean Ambassador Suh Sangpyo.
