A small unrecognized fishing city emerged as a potent booster of Pakistan’s economy with innumerable real estate investment and commercial opportunities. Gwadar, is situated on the south western coast of Baluchistan, lying on the shores of the Arabian Sea opposite Oman.
Gwadar is at the junction of international sea shipping and oil trade routes, thus all the international traders, trading oil to different countries have a common route from Gwadar port. Being at such focal point it has potential to control the trade routes and is said to have about 2/3rd of World’s oil reserve.
Gateway to The World:
With the establishment of Gwadar port, many countries will have a convenient short trade route with the world via Gwadar, which will accordingly increase the demand of many industries in Gwadar including real estate industry, ultimately inviting investors from all over the world. Gwadar port is now functional for the afghan traders, providing them with easy access to the World and saving their transit time and cost.
China recognized its strategic importance and invested over $62 billion in China-Pakistan Economic Corridor (CPEC), essentially relying on Gwadar. Gwadar port will help China economically as the trade route of China’s import from the oil producing countries will become much shorter. With the onset of CPEC project, tremendous development has been made in Gwadar and the countries all over the World have an eye for this city.
Gwadar’s Fate:
Gwadar has now become a lucrative market to invest in, luring international investors. With CPEC project there will be job opportunities and people not only from China but also from other countries will move into Gwadar which will uphill the real estate industry as there will be an immense increase in demand for residential and business properties.
Gwadar isn’t solely providing economic opportunities to China but also to Europe, Iran, India, landlocked countries and many other countries, as it links almost half of the world through CPEC via different routes. For luring investors from all across the world, government has announced free tax investment in Gwadar better known as free economic zone.
Along with free economic zone, government has also announced a duty-free port. These initiatives took the development and consequently real estate and other industries in Gwadar to a whole new level.
Real Estate Development in Gwadar:
There has been an incomparable real estate development in Gwadar and still a long run of development in this sector has to be made. The property in Gwadar is showing a steep increase and is drawing investors’ attention, as the land in Gwadar is speculated to show an uptrend, having no signs of fall. With such development, investor whether be a foreigner or local has jumped in the city to make timely and profitable investment.
China played a vital real in development of Gwadar, and still continue to do so. Also, Sadia Arabia and UAE are both geared up to invest in Gwadar under CPEC framework. Let’s have a look at the developmental programs in Gwadar.
China, The Main Lead:
China, as previously mentioned invested $62 billion in CPEC aiming to build power stations, highways, railways and high-capacity ports to get access to the world via Gwadar port. This investment helped real estate industry In Gwadar to grow tremendously which is correspondingly producing real estate investment opportunities for the investors.
Furthermore, to make sure that the real estate development in Gwadar meets the standards, China has promised to invest over $1 billion in the construction sector of Gwadar. The following are the proposed projects that are to be executed with the help of China.
New Gwadar International Airport:
A new Gwadar international airport is under construction which is speculated to be the country’s biggest airport. This will play a very important role in the development of Gwadar city. This project is entirely funded and assisted by China and is expected to be around $246 million.
Gwadar East Bay Expressway:
A six-lane expressway connecting Gwadar port to the Makran Coastal highway, through which entire traffic of port will flow and is expected to complete in 2021. This project is expected to cost around $14.7 billion and is aided by China as interest free loan.
Construction of Breakwaters:
This project of constructing breakwaters at Gwadar Port is partly granted and is partly given on concessional loan. It is expected to cost around $123 billion.
Dredging of Berthing Areas and Channels:
For the smooth shipment on existing berthing facilities, this project is put forward and is financed by China on concessional loan. It is estimated to cost around $27 million.
Pak China Friendship Hospital:
A 50-bedded hospital in Gwadar is to be constructed on 68 acres of land with all the facilities. The estimated cost is around $100 billion and is fully granted by China.
Pak China Technical and Vocational Institute at Gwadar:
This project aims at establishing a vocational and technical training institute in Gwadar. The estimated net cost is around $10 dollar which is entirely granted by China.
Saudi Arabia in The Play:
Saudi Arabia is all set to become the third strategic partner in CPEC and to bring economic stability in Pakistan, It has promised to establish an oil refinery in Gwadar port, worth $10 billion. This will incredibly boost up the real estate valuation of Gwadar with utmost development of real estate in the region.
Other Projects:
Some other projects like development of free zone and Gwadar Smart Portal City Master Plan have also been proposed. With such development, it is anticipated that this city will become the Singapore of Pakistan. Many professional workers are moving to Gwadar for working in the projects and are increasing the demand for residential as well as commercial sectors
These real estate development projects provide an immense number of real estate investment opportunities in Gwadar. This place is no less than a gold mine as profit is assured with investment. Gwadar is anticipated to revive the economy of Pakistan and as per experts it will drastically improve the economy of Pakistan in near future to as high as 6.5 percent!
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