Capital Development Authority (CDA) and the Pakistan Software Export Board (PSXEB) are jointly hosting an open house today to discuss the development of the new Information Technology Park (IT Park) at the G-10 Markaz site in Islamabad.
This event is expected to draw participation from key stakeholders, including officials from the Ministry of IT, the Special Investment Facilitation Council (SIFC), industry representatives, and representatives from IT companies.
The primary objective of the open house is to foster discussion around the development plan for the IT Park. CDA officials will be conducting briefings for attendees, highlighting the park’s strategic importance and its anticipated positive impact on the local tech ecosystem. Interactive sessions with IT companies will offer valuable insights into the specific needs and expectations of potential tenants.
Located on a designated 3.3-acre plot, the IT Park boasts a core area of 100,000 square feet. Upon completion, it has the potential to accommodate a vibrant community of 5,000 to 6,000 IT professionals. This includes freelancers, startups, software houses, and small and medium enterprises (SMEs).
Built under a public-private partnership model, the IT Park aims to create a collaborative and growth-oriented environment. It plans to offer a comprehensive range of amenities for its tenants, including shared co-working spaces, startup incubators, dedicated office spaces for SMEs, research centers, auditoriums, and recreational facilities.
The CDA is currently seeking a reputable entity, either an individual or a joint venture, to lead the transformation of the existing structure on the plot into a modern IT Park meeting international standards. The leasing terms involve an “As Is” rental agreement for the entire area. The initial lease term is set for 15 years, with a potential five-year extension subject to mutual agreement and CDA approval. The minimum monthly rent is approximately Rs. 16.58 million.
This open house signifies a significant step forward for the development of the Islamabad IT Park. With its focus on fostering innovation and collaboration, the park holds the potential to become a major hub for Pakistan’s burgeoning tech industry.
