CBD Punjab tasked to build ‘Nawaz Sharif IT City’ in Lahore

LAHORE: The Chief Minister of Punjab has entrusted the Central Business District Punjab (CBD) with the task of constructing the ‘Nawaz Sharif IT City’.

The largest IT city will be developed on 620 Kanals of land in Lahore.

Construction is scheduled to commence in April 2024. The Punjab CDC will oversee the project’s completion, which has been hampered by delays for the past decade.

The Nawaz Sharif IT City project will be divided into three main sections: the IT and Tech District, Education City, and Film City. The initial phase will involve the construction of an IT tower within twelve months.

Imran Amin, the Chief Executive Officer of the Punjab CBD, has estimated the total cost of the project to be one hundred billion rupees. He also mentioned that the project encompasses various revenue models aimed at attracting investments.

The Punjab government has announced a ten-year tax exemption for the project. The entire infrastructure of the IT city is slated to be completed within three years.