Sept 09: Bhutanese government has finalised a deal last Friday to build the country’s first IT Park.
Thimphu TechPark will be built on a five-acre plot in Wangchutaba by Thimphu techpark private limited, a joint venture of Druk holdings and investments (DHI) and Assetz, a property development firm headquartered in India and Singapore.
Communications Minister Nandalal Rai while at the signing even said that Bhutan was awaiting in terms of building a world-class IT park.
As another incentive for Thimphu TechPark, the government has assured 20 percent occupancy by leasing 10,000 sft at USD 2m for 90 years, the maximum potential duration of the lease. Thimphu TechPark will pay the government Nu 217,800 annually for the land. Non-fiscal incentives, like ancillary services, are also being provided until the park perimeter at government expense.
Construction of the Nu 250m IT park begins in February, next year. The main structure, designed to be environmentally friendly and incorporating traditional architectural characteristics, will be completed by November 2010. Thimphu TechPark is planned to be operational by June 2, 2011.