Friday, March 1, 2024

3 Private Sector Technology Parks Planned for Lahore

The rules of the Area Development Plan recently implemented by the Lahore Development Authority (LDA) seem to be gaining momentum by encouraging developers to plan groundbreaking large-scale projects along Lahore’s main arteries, rather than so far illegal and unsightly strip development.

Two projects of 101 channels and 88 channels were accepted in a recent meeting of the LDA governing body. Lahore’s Zaamin Company, developer of a private housing scheme, Zaamin City has announced plans to set up three technology parks on approximately 150 canals each to help government efforts to increase IT exports to $10 trillion per year over the next five years.

A Special Technology Zone Authority has been formed by the Prime Minister and incentives for the creation of technology zones have been announced. Mr. Haroon Rashid, President of the Overseas Investors Chamber of Commerce & Industry (OICCI), suggested at a recent conference that Pakistan could rapidly underuse 5-10 million square feet of land.

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