Work began on the upgradation of the park on 10 October 2015. Habib Construction Services Limited was contracted to complete the project. Along with renovation of the Minar-i-Pakistan, the project featured expansion of the Iqbal Park by including it in the stretch of Circular Road between the park and Lahore Fort. The 125-acre green oasis is surrounded almost entirely by the old city of Lahore. The project was completed on 9 November 2016 incurring a total cost of PKR 981 million as quoted by the contractor of the project.
The new-look park was formally inaugurated on 17 December 2016.
Furthermore, the National History Museum was opened in the park in 2018. It is the first digital museum in Pakistan that offers an immersive experience to visitors with the help of cutting-edge technologies. Using holograms and virtual reality equipment, this digital museum commemorates all the historic events leading to the emergence of Pakistan in 1947. Along with hosting a vast collection of national relics and antiquities, the museum also highlights the key sports and cultural events throughout the history of the country