Agreement signed with Chinese firm for building Nawaz Sharif IT City in Lahore
LAHORE, (NNI): Central Business District Punjab (CBD Punjab) inked an important contract with China Machinery Engineering Corporation (CMEC) for the establishment of the Nawaz Sharif Information Technology City at the Ravi Urban Development Authority (RUDA) project in Lahore.
According to details, a high-level delegation led by CBD Punjab Chief Operating Officer (COO) Brig Retd Mansoor Janjua is on a visit to China and succeeded in making this pact.
Nawaz Sharif IT City project: Punjab Chief Minister Maryam Nawaz Sharif approved the Nawaz Sharif IT City project in Lahore on March 15 signalling a new era of progress for Punjab.
Spanning 853 acres near the Pakistan Kidney & Liver Institute and Research Centre (PKLI), it will be named Nawaz Sharif IT City. With 10 billion rupees allocated as seed money, the Punjab government is committed to fostering IT and growth.
Implementation falls under the
Punjab Central Business District Development Authority.
The project will have four segments: IT & Tech District, Education City, Film City, and Commercial or Residential.
The initial phase includes constructing the Celestia twin-tower IT building, expected in 12 months.
Nespak and an international consultant will ensure meticulous planning.
Anticipated to generate nearly one million jobs, it boasts diverse revenue models and tax incentives.
CBD Punjab will conduct roadshows to attract investments, showcasing progress and prosperity.
Profile of CBD Punjab: Punjab Central Business District Development Authority (PCBDDA) also known as Central Business District Punjab (CBD Punjab) is an authorized body incorporated to establish and promote environment friendly urban regeneration projects on vertical principles. A pre-financial feasibility has been determined for around PKR 2700B-3000B based on development as economic advancement and shall generate employment in various sectors.
Development shall also enhance vertical activity in surroundings especially within the surrounding Gulberg area with a boost in major business activity. The Development has been categorized in five districts namely, Commercial Zone, Digital District, Residential District, Entertainment and Government Zone, each district having unique characteristics & dynamics, connected through urban green infrastructure developed by renowned international architects.
Other unique features of the development include a History Museum and Jinnah Monument illustrating the rich history of the Walton Airport. Botanical Gardens and Green spaces are part of the project to compliment the green architecture of this Unique yet modern development. This is a project to put Pakistan on the map of Global Business Districts.