The Karachi IT Park project is moving forward with the completion of its schematic and initial designs, indicating a significant step in its development. Sources within the Pakistan Software Export Board (PSEB) informed ProPakistani that the project, led by the Korean Design Consortium, particularly M/S JUNGLIM Consortium, has finalized its conceptualization, schematics, and initial designs. These designs encompass architectural and ICT elements.
Detailed design work for Karachi IT Park is expected to conclude by May 2024, with construction set to commence in the fiscal year 2024-2025 and projected completion by July 2027.
Approved by the Executive Committee of the National Economic Council (ECNEC) in June 2021, the Karachi IT Park project carries a capital cost of Rs. 31.1 billion ($186.658 million), with funding from the Korean Exim Bank and a Public Sector Development Program (PSDP) local share.
The park will span eleven stories (eight above ground and three below) across 106,449 square meters, housing offices, testing laboratories, classrooms, an industry-academia linkage center, an auditorium, and more. It aims to accommodate around 210 IT companies and approximately 8,400 employees.
Federal Minister for IT and Telecom Syed Amin Ul Haq laid the foundation stone for Pakistan’s largest Information Technology Park in Karachi on November 8, 2022.
Technology parks, according to PSEB officials, act as hubs for innovative businesses to flourish, offering expansive spaces conducive to business development. These initiatives, supported by governments globally, aim to stimulate regional and national economies, foster knowledge-based economies, promote entrepreneurship, and drive the advancement of cutting-edge technologies within the region.
