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Lahore Set to Welcome $70 Million Skyscraper

Lahore Set to Welcome $70 Million Skyscraper

A recent report by Business Recorder reveals the signing of an agreement to construct a $70 million, 36-story technology tower in Lahore, in collaboration with the Special Technology Zones Authority (STZA).

The CODE Science and Technology Park (CODE STP), a privately managed technology zone company in Pakistan, has inked a zone development agreement for their flagship project, ‘The Mark.’

Hamza Saeed Orakzai, Chief Market Development Officer at STZA, highlighted the project’s aim to support export-oriented technology firms in services, research and development (R&D), and product markets.

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Orakzai emphasized Pakistan’s emergence as a supply-side market for the global technology sector due to its competitive technical labor costs. He disclosed that the project’s investment size is Rs. 20 billion (approximately $70 million) and is slated for completion by 2026, making it the tallest technology tower in Johar Town, Lahore.

The project will cater to the space needs of both foreign and local technology companies, accommodating specialized ecosystems and facilitating scaling opportunities.

According to Orakzai, The Mark will have the capacity to host 7,000 to 8,000 people during a single shift, aligning with STZA’s notified 48 segments of the technology sector, including R&D, IT, ITeS, IoT, AI, agri-tech, biotech, semiconductor, robotics, blockchain, and other emerging segments.

Aamer Saleemi, another STZA official, reiterated their commitment to supporting transformative projects like The Mark, while Akbar Shaukat, a Board Member at CODE STP, hailed the Zone Developer license from STZA as a significant step for Pakistan’s tech sector.

Abid Hussain of CODE STP emphasized that The Mark goes beyond construction, aiming to establish a dynamic interface blending private sector dynamism with government initiatives for sustainable economic revitalization.