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ISLAMABAD, Oct 16 (APP):The under-construction IT Park in Islamabad is set to facilitate technology transfer through industry-academia linkages, support technology commercialization, connect tertiary education with production, promote research and development, and enhance IT exports and industry competitiveness.
According to an official of the Ministry of IT, the landmark project is being developed with a $76.3 million loan from South Korea, secured on highly concessional terms.
He said the foundation stone of the IT Park in Chak Shahzad, Islamabad, was laid with South Korean assistance to realize Prime Minister Shehbaz Sharif’s vision of a “Digital Pakistan.”
“The Islamabad IT Park will consist of a twelve-story building (including two basements and ten floors) with a total covered area of 66,893 square meters. Initially, it will provide office space for around 120 start-ups and small to medium enterprises, along with facilities such as testing laboratories, classrooms, an industry-academia linkage center, and an auditorium,” he added.
Built to international standards, the park will offer state-of-the-art facilities to attract global companies, enhance exports, and strengthen Pakistan’s IT ecosystem. “Both Islamabad and Karachi IT Parks are being funded by South Korea, reflecting growing international confidence in Pakistan’s technology sector,” the official said.
Despite initial challenges such as heavy rains, import restrictions, and economic pressures, the Islamabad IT Park has remained within its allocated budget of $76.3 million, with an additional $12.5 million provided through the Public Sector Development Programme (PSDP).
Most of the construction work is expected to be completed by December 31, 2025. Once operational, the park will serve as a hub for innovation, investment, and employment—marking a major step forward in Pakistan’s digital transformation journey.