Islamabad: The Capital Development Authority (CDA) is set to reissue a Request for Proposal (RFP) for the much-anticipated Islamabad IT Park, following a stalemate in rental fee negotiations with a prospective investor, as reported on July 5.
According to the details, a company had shown keen interest in investing over PKR. 1 billion in the proposed IT Park. However, the discussions hit a snag as the CDA demanded a rental fee of PKR. 15 million, while the company was only willing to pay PKR. 10 million. This discrepancy has prompted the CDA to issue another RFP to attract new bids for the project. Initially, three companies expressed interest in the IT park’s business proposal. However, discussions advanced with only one company due to its significant investment potential. With the issuance of a new RFP, the CDA aims to present all offers to its board, which will then decide on the acceptance or rejection of the bids.
In March 2024, the CDA approved the establishment of Pakistan’s largest IT park in Sector G-10 of Islamabad. The IT Park, covering a 3.3-acre plot, will be developed through a public-private partnership. The facility is set to encompass 0.1 million square feet and will provide workspace for 5,000 to 6,000 freelancers.
The IT park will feature dedicated areas for freelancers, start-ups, software houses, a library, IT product exhibition spaces, research centers, conference halls, and meeting rooms. According to the RFP, the IT park will be leased out on an “as is” basis. Prospective bidders must submit bids for the entire 3.3-acre plot, which includes all built structures and open spaces. The CDA will retain ownership of the property, with the rental period set for 15 years and an option for a five-year extension upon mutual agreement.
