The Capital Development Authority (CDA) has halted work on what was supposed to be Islamabad’s largest IT Park. This unexpected decision has left the future of the project uncertain, raising concerns about the country’s technological and economic growth.
Why Was the Project Stopped?
The CDA board had previously decided to conduct a third-party validation of the financial bids for the project. However, despite this decision, the Expression of Interest (EOI) for validation has not been issued. According to sources, this delay has brought the entire leasing process to a standstill, leaving both the grey structure and the land designated for the IT park unused.
Several months have passed since the CDA board made this decision, but there has been no progress in issuing the EOI. Without this step, the leasing process for the IT park cannot move forward, resulting in an indefinite delay.
CDA Considers Alternative Uses for the Site
During a later board meeting, CDA officials discussed alternative plans for the unfinished structure. Some members suggested that the building should be converted into a nursing university, while others recommended using the space for an educational institution. Ultimately, the board decided to abandon the IT park plan and explore other possible uses for the site.
Background of the IT Park Project
The CDA initiated the leasing process for the 97,000-square-foot grey structure in G-10 Markaz in March last year. The goal was to transform the space into a modern IT park that would serve as a hub for freelancers, startups, and software houses. The project was designed to follow international standards under a public-private partnership model.
The 3.3-acre site was to be leased to a tenant responsible for developing and managing the IT park. The lease agreement was set for 15 years, with an option to extend for another five years. The minimum monthly rental for the site was fixed at Rs. 16.58 million.
Potential Impact on Pakistan’s IT Sector
Had the project moved forward, it would have provided workspace for 5,000 to 6,000 freelancers and included facilities such as:
- Research centers
- Conference halls
- Meeting rooms
- A library
The IT park was expected to play a crucial role in Pakistan’s growing digital economy, providing a dedicated space for IT professionals to collaborate, innovate, and expand their businesses.
What Happens Next?
With the CDA’s decision to drop the project, the future of this prime land remains uncertain. The IT sector, which was looking forward to a dedicated space for freelancers and startups, now faces a major setback.
Despite the CDA’s shift in plans, industry experts and IT professionals hope that the project can still be revived or relocated to another site. For now, the fate of Islamabad’s IT Park hangs in the balance, leaving many to wonder if the capital will ever get the technology hub it was promised.