Saudi prince in Islamabad to launch $100 million tech house project today

A Saudi tech company, owned by Prince Fahad bin Mansour Al-Saud, has announced it will launch a Saudi-Pakistan Tech House in Islamabad today, Monday, aiming to forge partnerships with information technology (IT) companies and enterprises in the South Asian country. 

The project was first introduced by the Saudi prince in January during Future Fest 2023, Pakistan's biggest digital festival. To "promote greater ease of doing business" between the two nations, the tech company.

ILSA Interactive, which has headquarters in Riyadh and Lahore, was founded in 2009 by Pakistani businessman Salman Nasir and is now co-founded by Prince Fahad. The company reflects the intention of Saudi and Pakistani leaders to further develop their existing strategic partnership in all spheres.

According to a statement from the company, HRH Prince Fahad bin Mansour Al-Saud is in Pakistan to inaugurate the Saudi-Pakistan Tech House, which aims to improve technical cooperation between the two countries.

“He has strategic plans to forge partnerships with IT companies, universities, and big enterprises in Pakistan.” 

The Saudi tech company has announced that the launching event will take place in Islamabad on Monday, March 6.

Prince Fahad announced his business's plans to create more than 1,000 employment in Pakistan, Saudi Arabia, and other countries during the Future Fest 2023 closing ceremony in January. He also said 300 projects totaling $100 million would be undertaken by the company.

Leading businesspeople, startups, policymakers, and investors from several countries participated in Future Fest 2023.

A delegation of Saudi businessmen joined in table conferences, keynote speeches, and debates on a variety of issues, including the future of business and the success of startups.