Latest Updates About Gwadar’s Master Plan
Update (February 21, 2020): Gwadar Development Authority (GDA) Director General (DG) Shahzaib Khan Kakar has said that Gwadar will be the ‘future Singapore’ of Pakistan. Gwadar’s master plan has been finalized. He said that the biggest hurdle in the development of Gwadar was the availability of water. The issue has been resolved as supply lines from the dams to the city have now been laid. Water in the dams is expected to last for up to 5 years. Moreover, desalinization plants are also being installed in Gwadar Smart City.
The wait is over; Gwadar’s master plan has been unveiled!
The Pakistani port city is all set to become the next biggest trading hub of South Asia, according to “Gwadar Smart City Master Plan,” chalked out by Chinese state builder China Communications Construction Company in collaboration with Pakistan’s Planning Ministry and Reform and Gwadar Development Authority (GDA). In fact, Gwadar aims to become not only a tax-free city—as previously reported—but also a ‘weapon-free’ city.
In this blog, we will discuss how the city plans to become the third-largest city of Pakistan in terms of generating economic output and its plans pertaining to urbanization. We will also analyse the future of Gwadar based on statistical data and predictions. If you’re an investor, then you’ll find useful information regarding various investment options in Gwadar.
Without further ado, let’s get started.
First, we will take a good look at the important features of the Gwadar Smart City Master Plan.
Features of Gwadar’s Master Plan
As mentioned above, the port city is poised to become South Asia’s biggest economic hub. Gwadar’s master plan shows the framework of a highly urbanized city, complete with modern infrastructure and facilities. For your convenience, we have highlighted some of the most important details of the master plan:
- Gwadar will be a tax-free city, comprising some of the most modern and high technology industries
- A special man-made island will be built along modern lines, which is expected to cost around $10 billion. It will feature a chaand, taara, depicting the crescent-shaped moon and star in Pakistan’s flag. The island will form the Central Business District, which is located on the Marine Drive, stretching towards Zero Point on the Coastal Highway
- These Chand Taara Islands in Gwadar will host a state-of-the-art amusement park, art & culture museum, grand theatre, concert hall, international expo centre, five-star hotels & resorts, multiple shopping malls and waterfront walk and a shopping promenade
- According to Gwadar’s master plan for smart city, there will be science and technology parks, beach resorts, special venues for concerts and exhibition centres, modern shopping malls
Predictions Based on Gwadar’s Master Plan
- It is expected that Gwadar port city will see a rising population of around 2 million residents, generating a need for more housing schemes and residential projects in Gwadar
- Due to smart city planning, urbanization and increased economic and trading activities resulting in a plethora of employment opportunities, it is expected that Gwadar’s contribution in Pakistan’s economy will rise to over $200 billion by 2050
- In the short term, it is predicted that Pakistan’s GDP will surge to $6 billion by 2025 and $24 billion in 2035. Annually, Gwadar’s economy will surpass $30 billion mark
- The future of Gwadar is promising. Statistical data and predictions reveal that Gwadar will become the trade and economic hub of the entire South Asia region generating an income per capita of $15,000, 10 times more of Pakistan’s current average, which is $1500 at the moment
- It is estimated that by 2030, Gwadar will surpass Karachi which at the moment has 65 million tonnes of cargo through the port each year.
- As per Gwadar’s master plan, around 15,800 new homes will be needed by 2025. By 2030, the demand for residential units in Gwadar will triple, leading to a need for 47,600 houses. By 2050, the requirement for the number of houses in Gwadar will increase to 254,500
Real Estate Investment Opportunities and Properties in Gwadar
The port city is currently abuzz with commercial and industrial activities. Naturally, it has attracted the attention of investors from all over the country. If you’re wondering where to invest in Gwadar or what kind of properties are available in the city then check out the prices mentioned below:
There are 5 marla plot files for sale in Gwadar with prices ranging from PKR 1.78 lakh to PKR 6.5 lakh. You can buy a 10 marla plot file in Gwadar from PKR 12 lakh to PKR 18.5 lakh. A 1 kanal plot file is available for sale with prices ranging from PKR 7 lakh to PKR 28 lakh.
Commercial properties up for sale as well with prices starting from PKR 22 lakh.
Here we will conclude our overview of Gwadar’s master plan. If you are interested, do read our piece on how the tax-free zone in Gwadar will benefit foreign investors. For more updates, stay tuned to the best real estate blog in Pakistan. Don’t forget to write to us at email@example.com and we will get back to you! Subscribe to Zameen Newsletter appearing on the right-hand side of the page.