In a significant development, an agreement has been reached with the Special Technology Zones Authority (STZA) to construct a $70 million, 36-story technology tower in Lahore. The project, named ‘The Mark,’ is designed to cater to export-oriented technology firms engaged in services, research and development (R&D), and product markets, according to Hamza Saeed Orakzai, Chief Market Development Officer at STZA.
As Pakistan emerges as a supply-side market in the global technology sector, driven by cost-effective technical labor, Orakzai expressed the project’s pivotal role in accommodating the needs of foreign and local technology companies. The tower, anticipated to be operational by 2026, aims to be the tallest technology tower in Johar Town, Lahore.
The mega project is poised to provide specialized ecosystems and expansive spaces, addressing the requirements of large technology companies. The tower’s capacity is estimated to accommodate 7,000-8,000 people in a single shift, contributing to the growth and scalability of both foreign and local enterprises.
The skyscraper, with a height of 530 feet and a double-height ground floor, aspires to be a hub for various technology segments, including R&D, IT and ITeS, Internet of Things (IoT), artificial intelligence, agri-tech, biotech, semiconductor, robotics, blockchain, and other emerging technology domains.
Operated under the Triple Helix Model of Innovation, STZA acts as the federal regulator for Special Technology Zones (STZs) in Pakistan. Providing fiscal and monetary incentives for a decade, STZA aims to foster innovation and economic growth by creating a conducive environment for technology companies.
“The Mark” by CODE Science and Technology Park (CODE STP), a privately managed technology zone company, signifies a transformative endeavor that aligns private sector dynamism with government initiatives, aiming to redefine Pakistan’s technological landscape. The project is hailed as a monumental step toward elevating the country’s tech sector to new heights, demonstrating a commitment to sustainable economic revitalization.
