Bears Inc, a Japanese tech company, has announced that it would get Pakistan's Saffran Group Company to develop a $3.2-million IT platform for its real estate business, as it eyes global expansion.

The total cost of product development would be JPY 350 million ($3.2 million) out of which JPY 130 million worth of work and investment road map has already been developed.

According to the Pakistan Software Export Board (PSEB) and JETRO, this becomes one of the largest direct orders given by a Japanese company to Pakistan in the field of information technology. The development comes as Pakistan eyes to grow its IT industry with Finance Minister Shaukat Tarin singling out the sector as the one for the future.

Pakistan Ambassador to Japan Imtiaz Ahmad, who met Michiyoshi Takuma, president of Bears Real Estate Co. Ltd, and Mirza Asif Baig, CEO at Saffran Group, assured full cooperation of the embassy and the government for successful completion of the project.

“We are happy that Bears Inc. Japan has chosen Saffran Group for this product, which will be completed by high-tech IT experts in Pakistan,” read a statement from Pakistan embassy in Japan.