Punjab Invites DAMAC to Explore Digital Investments

The DAMAC Group has been invited by the Chief Minister of the Province of Punjab, Maryam Nawaz Sharif, to make an investment in the province, with discussions ranging from asset tokenization, digitized infrastructure, and technology-driven development.

Read more: Punjab Plans Own Provincial Electric Power Regulator

Punjab Chief Minister Maryam Nawaz Sharif has formally invited the UAE-based business conglomerate, DAMAC Group, to explore investment options within Punjab, marking a significant move by the province to tap into digital assets and cutting-edge technology. The meeting was conducted with a senior delegation of the company led by its CEO, Amira Sajwani, and Managing Director Ali Hussain Sajwani.

During discussion, it was mutually agreed to fast-track the tokenization of government as well as commercial assets, with special emphasis on initiating a pilot project of commercial assets tokenization in Nawaz Sharif IT City. The DAMAC delegation showed keen interest in investment in Punjab and the technology-based approach of the Punjab government.

Emphasizing the economic potential of the province, the Chief Minister of Punjab stated that Punjab is responsible for 65% of the IT export of Pakistan and home to the largest digital economy. She added that more than 25,000 IT graduates are added to the labor market every year, while Lahore, Rawalpindi, Faisalabad, Multan, and Gujranwala are emerging as major tech hubs.

The CBD Punjab CEO, Imran Amin, also updated the delegation on the major projects undertaken, which include the CBD Quaid District, Serene Tower, the five-star hospitality tower, and hyper retail mall. He emphasized enormous tokenization opportunities in both CBD Punjab and RODA.