Saudi Arabia Launches $100 million Tech House in Islamabad

Prince Fahad bin Mansour of Saudi Arabia inaugurated the $100 million Tech House in Islamabad, Pakistan. The project is designed to create opportunities through collaborations with Pakistani IT firms. This project is the part of Saudi Arabia’s Vision 2030 strategy plan, an initiative to transition Saudi Arabia off its reliance on oil and position it as a global investment powerhouse with a cutting-edge digital infrastructure.

Saudi Arabia Launches $100 million Tech House in Islamabad

Earlier in 2023, Prince Fahad announced his ambitions to launch a tech house in Pakistan. He believed that the tech house will help to strengthen commercial ties between Saudi Arabia and Pakistan. This project will work under ILSA Interactive, a business that Prince Fahad and Pakistani businessman Salman Nasir co-founded in 2009 and has offices in Riyadh and Lahore.

Addressing the launching ceremony in Islamabad, Prince Fahad said it was an honour for him to announce the launch of the Saudi Pakistan Tech House.

“Our venture in Pakistan will be a catalyst for this partnership to provide a platform for greater collaboration and growth,” he said adding that the venture was a new dimension for greater cooperation and strengthening the longstanding strategic relationship between the two countries. I would like to reassert that we are looking forward to creating more than 1,000 jobs in Pakistan and are expecting to have more than 300 projects with a minimum cost of $100 million in the next five years.”

Shaza Fatima Khawaja, the special assistant to the prime minister for youth affairs, welcomed the Saudi crown prince’s initiative to modernising the Kingdom.

See Also: PITB Opens Registration For Start-ups Under National Expansion Plan Of NICs

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Onsa Mustafa

Onsa is a Software Engineer and a tech blogger who focuses on providing the latest information regarding the innovations happening in the IT world. She likes reading, photography, travelling and exploring nature.

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