In a landmark decision, Chief Minister Punjab, Maryam Nawaz Sharif, has ushered in a new era of progress and development with the approval of the much-anticipated Nawaz Sharif IT City project in Lahore. Spanning an impressive 853 acres near PKLI in Lahore, this ambitious venture signifies a monumental step towards fostering technological advancement and economic growth in the province.
With an initial allocation of 10 billion rupees as seed money, the Punjab government underscores its steadfast commitment to promoting IT infrastructure and innovation. Entrusting the implementation to the Punjab Central Business District Development Authority (PCBDDA), led by CEO Imran Amin, reflects a strategic approach towards ensuring the project’s success.
The comprehensive nature of the IT City project is evident in its four key segments: IT & Tech District, Education City, Film City, and Commercial and Residential zones. The Celestia twin-tower IT building, slated for completion within 12 months, marks the beginning of a transformative journey towards establishing a vibrant IT ecosystem.
Overcoming significant obstacles such as land transfer and survey issues, the project aims for full infrastructure readiness within three years. Leveraging the expertise of Nespak and international consultants for master planning ensures meticulous execution and sustainable development.
March 2024 signifies a pivotal moment as the land officially transfers to CBD Punjab, paving the way for construction to commence in April 2024. With an estimated cost of 100 billion PKR, the project is poised to generate nearly one million jobs, showcasing its potential as a catalyst for economic prosperity.
In a strategic move, the Government of Punjab has declared the project tax-free for a decade, incentivizing participation and investment. Special economic zones will further attract both local and international investors, reflecting CM Maryam Nawaz Sharif’s vision for driving growth and opportunity.
As CBD Punjab embarks on a series of roadshows to raise awareness and attract investments, the Nawaz Sharif IT City stands as a beacon of progress and prosperity for Punjab and its people. It heralds a future where innovation thrives, opportunities abound, and the promise of a brighter tomorrow becomes a reality.
