A $100 Million: Approved Saudi Arabia for Tech House Islamabad

Tech House Islamabad is a technology park project in Pakistan that has been approved for funding by Saudi Arabia. 

Saudi Arabia and Pakistan have a longstanding relationship that dates back several decades. The two countries share cultural, religious, and historical ties and have maintained close diplomatic and economic relations. The two countries have also cooperated in various financial and strategic initiatives, including trade, investment, and defense.

A $100 Million: Approved Saudi Arabia for Tech House Islamabad

Prince of Saudi Arabia, Fahad Bin Mansour, launched a Saudi-Pakistan Tech house. 

The project is expected to cost $100 million and will be located in the capital city of Islamabad. The project aims to promote innovation and entrepreneurship in Pakistan’s tech sector, which is rapidly growing and has significant potential. Future Fest 2023 in January was the first public announcement of this project.

Moreover, the tech house firm additionally desired to encourage increased ease of doing business between the two nations.

However, this collaboration between the two companies is a part of the Saudi government’s vision 2030 plan. They aim to reduce the country’s reliance on oil and transform it into a leading investment. A major goal is to make the country less dependent on oil revenues.

Lastly, Saudi Arabia has set aside almost $500 billion to achieve these goals, including developing new cities.

You may also like this post: The UAE And Saudi Arabia Are At The Forefront Of A $1.36 Billion Development Boom In The Region

Manahil Tariq
Manahil Tariq

Manahil Tariq, A content writer and copywriter with over 2 years of experience. Throughout her career, she worked with a diverse group of clients from around the world. She also works with real estate firms and marketing agencies. Writing is where her skills and expertise really shine.

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