Punjab Chief Minister (CM) Maryam Nawaz Sharif has given the green light for the much-anticipated IT City project in Lahore, ushering in a new era of progress and development in the province of Punjab. The project will be overseen by the Punjab Central Business District Development Authority (CBD Punjab).
During a recent meeting chaired by CM Punjab, the CEO of CBD Punjab, Imran Amin, presented a detailed overview of the IT City project. The meeting was attended by key officials, including Provincial Ministers Maryum Aurangzeb and Azma Bukhari, Punjab Chief Secretary Zahid Akhtar Zaman, and other government representatives, highlighting their commitment to the project under CM Maryam Nawaz Sharif’s leadership.
Spanning 853 acres near PKLI in Lahore, the project will be officially named Nawaz Sharif IT City and allocated a substantial 10 billion rupees as seed money by the Punjab government. The project will encompass IT and Tech District, Education City, Film City, and Commercial and Residential segments. The construction of the Celestia twin-tower IT building is set to begin soon, with the entire infrastructure expected to be completed within three years.
With the goal of generating around one million jobs, the project will utilize various revenue models, including self-generation, joint ventures, and Real Estate Investment Trusts. The project is estimated to cost Rs100 billion, with the Government of Punjab offering a tax-free status for ten years to attract investments.
The CBD Punjab will organize roadshows to promote awareness and attract investments for the Nawaz Sharif IT City project, reflecting the progress and prosperity envisioned by CM Maryam Nawaz Sharif for Punjab.
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