The idea of establishing a “Knowledge Park” in Lahore was conceived a couple of years ago. It is supposed to become the first educational center of international standards in South Asia.
Lahore Knowledge Park Company has now announced that the groundwork for the $1 billion project has been completed and they’re ready to move towards infrastructure work.
The first phase consisting of basic infrastructure facilities along with a couple of life-sciences universities will be completed by 2018, paving way for private investment in the project.
The project had been designed on the public-private partnership model where the Punjab government would spend 20% and the remaining 80% equity would be invested by the private sector over a span of 25 years.
Lahore Knowledge Park will be a fourth generation park being established over 852 acres of land located a few kilometers from the Pak-India border. It will consist of universities and schools, science and innovation hubs, a retail and central business district, a residential district, an entertainment zone and green areas.
Shahid Zaman, CEO LKPC
The project is expected to serve as a growth engine for Lahore and promote education in five key areas, namely, life sciences and bio-technology, design and creative industry, information technology, computer sciences and science and engineering.
