The establishment of Pakistan’s largest IT park in Islamabad has faced another delay as the Capital Development Authority (CDA) moves to validate financial bids through a third party.
Following the CDA board’s approval of this measure, an Expression of Interest (EOI) has been issued for the validation process. Work on the project will only commence after the validation is complete. The CDA has stated that this step is being undertaken to ensure transparency in the leasing process.
Earlier this year, in late March, the CDA initiated the process of leasing a grey structure spanning 97,000 square feet in G-10 Markaz, with the aim of transforming it into a cutting-edge IT park. The CDA board had previously approved the plan, envisioning the facility as a centerpiece for technological innovation in the country. The structure, equivalent to 3.3 acres, will be leased to a tenant tasked with converting it into a state-of-the-art IT park adhering to international standards.
The grey structure is being offered on an “as-is” basis for an initial 15-year lease, with an optional five-year extension subject to mutual consent. Bidders are required to bid for the entire 3.3-acre plot, with a minimum monthly rental set at approximately Rs. 16.58 million. The park is expected to operate under a public-private partnership model, creating a dynamic environment for freelancers, startups, software houses, and SMEs.
Once completed, the IT park will provide office spaces for an estimated 5,000 to 6,000 freelancers. It will feature essential amenities such as research centers, conference halls, meeting rooms, and a library, along with designated areas for showcasing IT products. This comprehensive infrastructure is aimed at fostering collaboration and innovation within Pakistan’s IT sector.
Located in Sector G-10, a hub for universities and telecommunication companies, the IT park is expected to drive technological advancement in the region. While the project promises significant economic and technological benefits, repeated delays underline the challenges in turning ambitious plans into actionable realities.
The CDA emphasizes that the third-party validation process is crucial to ensuring a fair and transparent bidding process for such a significant project.
