TPL Properties to develop Sindh’s first technology park in Karachi

KARACHI: TPL Properties Limited, through its wholly owned Subsidiary G-18 (Private) Limited, has acquired a 10,002 square yards plot in Korangi Industrial Area to develop state-of-art, first ever technology park in Sindh with high end technology facilities.

Such infrastructure shall provide a platform to the IT sector across Pakistan. The timeline for the completion of the project is anticipated to be two years, which includes planning and designing phase, a news release said.

TPL Properties Limited is a real estate development company involved in the business to invest, purchase, develop, sell, lease or dispose real estate assets primarily in the commercial and residential asset classes.

TPL Properties completed its initial public offering conducted through a Book Building process in June 2016. The company is the real estate development arm of TPL Corp Ltd.

According to Minister for Information Technology and Telecommunications Aminul Haque, Pakistan’s exports of information technology and enabled-services are expected to reach $1.2 billion by the end of the current fiscal year compared to $831.4 million a year earlier.

Pakistan has become the 5th most financially attractive location in the world for offshore services, according to A.T. Kearney’s Global Services Location Index. Several international companies including Global enterprises like Bentley, Ciklum, IBM, Mentor Graphics, S&P Global, Symantec, Teradata, and VMware have established global consulting services centers, research and development facilities, and BPO support services centres in Pakistan.

In addition, freelancers and independent consultants are making their own mark in IT enabled services as Pakistan is ranked as the 4th most popular country for freelancing as per initial data for 2019 of Online Labor Index by Oxford Internet Institute.

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