The Capital Development Authority (CDA) has initiated the process of leasing a grey structure with a covered area spanning over 97,000 square feet, equivalent to 3.3 acres, located in G-10 Markaz, Islamabad, with the vision of transforming it into a cutting-edge IT park.
This move follows the recent approval by the CDA board to establish Pakistan’s largest IT Park in the area.
The CDA has invited Expression of Interest (EOI) from companies interested in leasing the property for an initial period of fifteen years. The selected tenant will be tasked with converting the grey structure into a state-of-the-art IT park adhering to international standards and best practices.
Interested parties are expected to have a reputable and experienced background in the field, either as individual entities or through joint ventures. The envisioned IT park aims to offer a comprehensive range of amenities to cater to the diverse needs of technology companies and their employees, including shared co-working spaces, incubators for startups, office spaces for SMEs, research centers, auditoriums, recreational facilities, and more.
The leasing terms dictate that the grey structure will be rented out on an “As Is” basis, with bidders required to bid for the entire 3.3-acre plot. The rental period is set for fifteen years initially, extendable for another five years subject to mutual consent and approval by the CDA’s Competent Authority. The minimum monthly rental amount is approximately Rs. 16,581,813.
Interested parties have until April 30, 2024, to submit their Expression of Interest (EOI). The CDA encourages international firms and consortiums to participate in this endeavor. Details regarding the project and submission process can be found on the CDA website.
IT … aur pakistan !