Central Business District Punjab (CBD Punjab) has signed a significant contract with China Machinery Engineering Corporation (CMEC) to establish the Nawaz Sharif Information Technology City at the Ravi Urban Development Authority (RUDA) project in Lahore.
According to media reports, a high-level delegation led by CBD Punjab Chief Operating Officer (COO) Brigadier Retired Mansoor Janjua is currently on a visit to China and has successfully finalized this agreement.
The approval for the Nawaz Sharif IT City project in Lahore was granted by Punjab Chief Minister Maryam Nawaz Sharif on March 15, heralding 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, with implementation falling under the Punjab Central Business District Development Authority.
The project will be divided into four segments: IT & Tech District, Education City, Film City, and Commercial or Residential. The initial phase will involve constructing the Celestia twin-tower IT building, expected to be completed within 12 months. Meticulous planning will be ensured by Nespak and an international consultant.
Anticipated to generate nearly one million jobs, the project boasts diverse revenue models and tax incentives. CBD Punjab will conduct roadshows to attract investments, showcasing progress and prosperity.
