The Capital Development Authority (CDA) announced on Wednesday its plan to construct the country's largest IT park in Islamabad.
Amidst fervent anticipation, the CDA has granted approval for the establishment of an expansive IT park sprawling across 3.3 acres in the heart of Sector G-10, Islamabad.
Stressing the strategic significance of this endeavor, the authority disclosed that meticulous planning has already been undertaken, with a designated plot secured for the monumental project.
The forthcoming Islamabad IT Park is slated to be developed through a collaborative effort under the Public Private Partnership model, symbolising a convergence of governmental vision and private sector expertise.
Envisioned as a bustling hub of technological prowess, the park is poised to encompass an impressive covered area spanning one lakh square feet, accommodating an estimated 5 to 6 thousand freelancers, startups, and software houses.
Speaking on the multifaceted utility of the IT park, CDA officials elucidated that it will serve as a vibrant ecosystem conducive to innovation and growth.
Among its myriad features, the park will boast state-of-the-art facilities including a library, exhibition spaces for showcasing IT products, as well as dedicated zones for research centers, conference halls, and meeting rooms.
Furthermore, the CDA clarified that the financial burden of constructing the Islamabad IT Park will be borne entirely by private entities, underscoring the collaborative ethos of the initiative.
As part of the arrangement, private companies will lease space within the park to establish their IT offices, thereby catalyzing economic activity and job creation within the burgeoning technology sector.
In a forward-looking gesture, the CDA revealed that upon completion, operational control of the IT park will be transitioned to the authority after 15 years, signifying a long-term commitment to nurturing Pakistan's technological infrastructure.
