The glare of China Pakistan economic corridor (CPEC), Gwadar port, holds essential and significant economic and social importance within Pakistan. As CPEC focuses on four areas; transport, infrastructure, port development and industrial cooperation, development and growth of infrastructure of Gwadar port is considered to be the greatest projects under One Belt, One road Initiative. The progress and development in the port and the surrounding areas are expected to attract and lure many foreign investments in the upcoming year making this area an International hub. The project will open doors to immense economic opportunities not just for Pakistan but will physically connect China’s market to Asia. The much advertised US$45 billion China-Pakistan Economic Corridor will pass through the beautiful Gilgit Baltistan province in the north and is expected to bring the development of long neglected Baluchistan along with it.
The Master plan for Gwadar was approved in Feb 2020 as reported by Gwadar development Authority. Under this masterplan, the city will be divided into 11 functional zones and a special economic district, and the population is projected to reach 2 million by 2050. Moreover, another mega project GlobBiz Avenue Gwadar by Gwadar builders and Associates has been launched which has turned all eyes for investments.
Following are some reasons for this project being of supreme importance for both investors and buyers;
Phases and location:
GlobBiz Avenue is consisted on four phases and all of them are in their development stage. Phase 1 and 2 are located on a prime location on the Marine Drive and Padizar Avenue with an eye catching sea view. These phases are considered to be the most valuable and esteemed phases of the Gwadar project built on 186 acres having a seafront 1.2km. This is all included in the master development plan of Gwadar and aims on building both commercial and residential plots for the customers. However, phase 4 which is located on the Baluchistan Broadway offers 5 Marla, 10 Marla and 1 kanal residential plots. This project has gathered attentions from all the local and foreign investors since it has become the most-demanded real estate investment in Gwadar port.
The Development Plan:
According to the master plan of Gwadar, it is supposed to become the fulcrum of economic development not just in Pakistan but in China, Afghanistan, few central countries, South Asia and middle eastern countries. The plan aims investment of $5 billion in power sector, $1 billion in desalination plants for generation of fresh water, business district, manmade island and creating numerous employment opportunities endorsing and empowering skilled workers.
As for the development, phase 1, 2, and 3 have almost reached the final development stage whereas the phase 4 facing the beach front is on initial stage of its development and has all eyes balled on it for investment because of the largest commercial area approved by the Gwadar development Authority.
For the commercial area, huge buildings offices and businesses will be built with all ultra-modern and highest technology and equipment making the infrastructure of international standards. All the buyers will be entertained with various options such as
- Residential living of 5, 7, 10 Marla and 1 and 2 Kanal
- Commercial and recreational plots of 4 Marla and 1 and 2 Kanal.
Under the Umbrella of GDA:
One of the paramount factors associated with the GlobBiz avenue Gwadar is the name of the Gwadar Development Authority (GDA). GDA is the result of cooperation of government and private bodies responsible for the construction and development of infrastructure of the Gwadar port, which is the focal point of the China Pakistan Economic Corridor (CPEC). Moreover, Gwadar Development Authority is considered to be included in big names of South Asia because of its development of wind-power and wind-power projects, free-trade zones, and the biggest international airport of Pakistan in Gwadar.
GDA does not only devise and strategize the plan for the development and construction of Gwadar but solely monitors and supervises the project and make sure that development phase is under process without any hurdle or obstacles. For all above reasons, the authority holds high importance locally and globally and so does the project.
Although the project is being built with latest technology, strategies, tactics and equipment making it an ultra-modern living space of international standards, the investors are making it possible for middle and small income buyers to invest in these plots. Many schemes, loan offers and early bird discounts have been announced from time to time encouraging the buyers to invest while the phase 4 is in early development phase.
As for the talk of the town, phase 4 of GlobBiz Avenue Gwadar has the following installment plan with easy installments broken down in 35 monthly or 2 half-yearly installment
Payment Plan for Residential plots:
|Plot Size||Price||Down Payment||35 Monthly Installments||2 Half yearly Installments|
|5 Marla (125 Sq. Yards)||11.8 lacs||236,000||23,600||59,000|
|7 Marla (175 Sq. Yards)||16.5 lacs||330,400||33,400||82,600|
|10 Marla (250 Sq. Yards)||19.8 lacs||396,000||39,600||99,000|
|12 Marla (300 Sq. Yards)||23.7 lacs||475,200||47,520||118,800|
|1 Kanal (500 Sq. Yards)||34.8 Lacs||696,000||69,600||174,000|
|2 Kanal (1000 Sq. Yards)||70 Lacs||1,392,000||139,200||348,000|
Payment plan for commercial plots:
|Plot Size||Price||Down Payment||35 Monthly Installment||2 Half Yearly Installment|
|4 Marla (100 sq yards)||30 lacs||600,000||60,000||150,000|
|2 Kanal (1000 sq yards)||40 Lacs||8,000,000||800,000||2,000,000|
Additional Terms and Conditions:
- All the buyers have to make an advance payment of 20% down payment, only then the file will be issued to them.
- Apart from this basic price structure, additional 10% extra charges for corner, park facing and wide boulevard.
- For the buyers who are interested or prefer making lump sum payment will be given the benefit of discounts. There is 5% discount on 50% payment, 6% discount on 60% payment, 7% discount on 70% payment, 8% discount on 80% payment, 9% discount on 90% payment, and 10% discount on lump sum payment of plot.
- Registration and documentation charges for residential plots are Rs.50/- per sq yard and Rs.500/ per sq yard for commercial plots. Registration and documentation charges are non-refundable.
- These are only land charges, there could be additional development charges, if and when required.
- As already discussed, GlobBiz avenue Gwadar is located at a prime location with a seafront and at the heart of the port city.
- The development is being done using the best machinery and equipment to construct an ultra-modern infrastructure.
- The plan is developing a number of wide roads, making it more accessible and convenient to coastal city.
- It has its own security making the city well secured, safe and peaceful place for all the residents.
- The project has multiple options of residential and commercial plots to choose from with all the necessities, facilities and amenities nearby.
- It has adequate provision of water, gas and electricity with underground of supply of electricity.
- GlobBiz Avenue Gwadar has a complete plan of development of all recreational activities nearby such as thematic mosque and state of the art fun places including hotels, resorts, malls. Shopping centers, restaurants, play lands, and adventure parks.
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