City Group was established by Fazlur Rahman, a business magnate in the private sector of Bangladesh.

More enterprises were established in the early 1990s; these included consumer goods, foods, steel, printing & packaging, shipping, power and energy, shares and securities, insurance, media, and healthcare.

[6] The park is intended to be used to manufacture technology products such as microprocessors, chips, circuits, mobile phones and laptops.

[7] On 14 July 2022, A Chittagong court issued an arrest warrant for City Group Chairman Fazlur Rahman, in a case filed by the Bangladesh Standards and Testing Institution (BSTI) for not maintaining standard Vitamin A levels in soybean and palm oils.

In the case statement, the allegation was brought against Fazlur Rahman saying that he violated the government order and act by not following edibles oil fortification with Vitamin A Act-2013.