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CDA and Pakistan Software Export Board Host Open House for IT Park Launch in Islamabad

IT Park

The Capital Development Authority (CDA), in partnership with the Pakistan Software Export Board (PSEB), is set to host an open house event for the Information Technology (IT) Park today at IT Park Site G-10 Markaz, Islamabad. The event will witness the participation of officials from the Ministry of Information Technology (IT), the Special Investment Facilitation Council (SIFC), industry representatives, and IT companies.

IT Park Launch in Islamabad

IT Park

The primary objective of the open house is to deliberate on the development plans for the IT Park. CDA officials will conduct briefings for representatives from the Ministry of IT, SIFC, and the IT industry, shedding light on the strategic importance of the IT Park and its anticipated impact on the local tech ecosystem. Moreover, interactive sessions with IT companies will provide valuable insights into the specific requirements and expectations of potential tenants.

Spanning across a 3.3-acre plot, the IT Park is designed to have a core area of 100,000 square feet. Once operational, it is projected to accommodate approximately 5,000 to 6,000 IT professionals, including freelancers, startups, software houses, and small and medium enterprises (SMEs).

Read more: Chairman CDA Pledges to Foster IT & Telecom Sector Growth

Operating under a public-private partnership model, the IT Park aims to cultivate an environment conducive to growth and collaboration within the tech industry. It intends to offer various amenities such as shared co-working spaces, startup incubators, dedicated office spaces for SMEs, research centers, auditoriums, and recreational facilities.

The CDA is actively seeking a reputable entity, either individually or through a joint venture, to transform the existing structure on the designated plot into a modern IT Park adhering to international standards. The leasing terms entail an “As Is” rental agreement for the entire 3.3-acre area, with an initial 15-year term and a potential five-year extension subject to mutual agreement and CDA approval. The minimum monthly rent is approximately Rs. 16.58 million.