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Gwadar’s real estate saw a significant boom following the signing of the China Pakistan Economic Corridor (CPEC) agreement. which has led to rapid development in Gwadar. While the frequency and nature of investment activity here fluctuated over the years, the CPEC-related developments continued to help Gwadar inch closer to becoming the world’s most modern port city.
All of this is becoming an increasingly hard-to-ignore phenomenon due to the fact that infrastructural developments projects promised under the collaboration can now be seen on ground. In fact, these projects have turned out to be a blessing in disguise for Pakistan during the times of pandemic as it kept the labour class and hundreds of thousands others, linked directly or indirectly with the related industries, employed.
Developments in Gwadar
In devising policies to counter the economic fallout of the pandemic, the government paid special attention to the infrastructural development under CPEC and its affiliated projects. Coupled with Prime Minister Imran Khan’s relief package announced for the construction sector, the situation was improved further leading to further spike in demand for construction material and manpower.
Keeping in mind that while CPEC is primarily about improving trade related connectivity and infrastructure throughout Pakistan and Gwadar is the pinnacle of this entire activity, investors naturally find the property and real estate projects here worth their investments.
At the same time, several areas, towns and roads in the city pose new and more promising investment potential due to the ongoing infrastructural developments. More prominent of these developments include Gwadar International Airport, Eastbay Expressway, Ratedero Gwadar Motorway, Marine Driveway, and tourism projects along the Gwadar coastline.
Recently, in the capital city of Islamabad, the 5th meeting of Pakistan China Joint Working Group (JWG) on Gwadar was held. During the meeting the finalization of deliverable projects was finalised which will be placed before the next Joint Coordination Committee (JCC) of CPEC.
Pakistan’s Ministry of Planning and Development’s Chinse counterpart National Development and Reform Commission (NDRC) Director General Ying Xiong assured that the development of Gwadar port city will be pushed with full vigor and enthusiasm.
A number of projects were discussed, including:
- Power Purchase Agreement of 300MW Coal Power Project
- 2nd phase of the Free Trade Zone (FTZ)
- New Gwadar International Airport (NGIA)
- M-8 Motorway
- Pak-China Friendship Hospital and Vocational & Technical Institute
- Fraternity Emergency Care Centre of the Red Crescent Society of China
The quest of making it safe for investors
For a fairly long time, investing in Gwadar was considered somewhat unsafe for buyers who were unaware of the real estate sector’s dynamics here. This was fixed a bit with the Gwadar Development Authority stepping up in the mid-2010s; it started flagging the projects where the development activities were delayed despite the issuance of authority’s approval. It paved way for introduction of standardize real estate practices. Soon after this, the need to have a proper master plan for the emerging port city augmented. This came coupled with ban on issuance of new approvals for real estate projects.
In August 2017, National Accountability Bureau (NAB) issued safety instructions for buying property in Gwadar, advising buyers personally visit the project site, get the project’s NOC and town plan and other details verified from the GDA, invest in projects of developers registered with the Security and Exchange Commission of Pakistan and confirm if the developer has acquired land for said society/project. The bureau further advised buyers to make payments only via bank and never in form of cash.
In November 2020, NAB Chairman (retired) Justice Javed Iqbal said that the bureau has taken notice of illegal real estate projects, stating that provision of legal investment opportunities was a requisite to promote related activities in the sector.
Due to these developments, this port city is under the spotlight for investment. Considering the ultimate potential of the city in years to come, properties are being offered at much lower prices, and in the case of projects currently in the launching/development stage, the ease of making payments in installments allows many more people to join the bandwagon.
Investment Scope in Gwadar
Investment scope in Gwadar can be gauged from the fact that all facilities being planned here are to be of ace quality and to match international standards. In fact, the city could be the first one in Pakistan to feature more high-rises and skyscrapers than any other metropolitan because of rapid development in Gwadar. This is in addition to introduction of international standard leisure and hospitality service. All of this will be built from scratch. In other words, any investment made here will eventually be long term to give optimum gains on returns, making Gwadar the hottest place for your next investment.
As the Gwadar port project progresses, it will provide around 2.3 million job opportunities, as it is positioned along the Gulf and provides direct access to over 70% of the world’s sea traffic. Thereby increasing demand for residential and commercial properties. Investing in Gwadar property right now means taking a piece of the prime real estate of this country, which is to increase in value multiple times over the year.
Where to Buy Property in Gwadar?
The GDA updates it website on a regular basis to share latest approval status of real estate projects. If an NOC for a society is restored conditionally, it means that the project developer has been issued a timeline to complete certain stages of development work in order for the NOC issuance stand valid. The list of these societies also contains details on the projects’ location and their respective NOC number.
As per the information available on the official GDA website, the authority has issued approvals to 77 residential schemes, 6 commercial developments, 16 industrial developments and 4 recreational projects. The GDA-approved residential schemes include the following:
- Creek City
- New World City
- Green Palms Gwadar
- Jinnah City
- Hermain City
- Model Town Gwadar
- Madina City
- Inara City
- Gwadar Springs
- Blue Ocean Residency
- Ocean Marina Gwadar
- Bin Qasim City Gwadar
- Free Port Housing Scheme No.01
- Gwadar Central
- GDA Bolan City
- Canadian City
- Jamal City
- Golden Lake
- Global Village Gwadar
- Balochistan Broadway Avenue
- China Village Gwadar
- Florida city Gwadar
- Globiz Phase-IV
- Kings Park Gwadar
- Gwadar Royal Garden Phase II
- Grace City
- Anchor City Gwadar (SMC-Private) Limited
- Arabian City
- Gwadar Golf City
- Sharjah Center
- China Pak Golf Estate
- Al-Rahim City
- Indus City Gwadar
- Coast Way Residency
- Palm City Gwadar
- Marina Enclave
- Al-Ghani Housing Scheme
- Marine Homes
- International Port City
- Naval Anchorage Gwadar
- ECHS Phase-II
- Gwadar Golf City Phase 2
The approved commercial projects include China Village Jinnah Avenue, China Commercial Complex, Finance Trade and Business Avenue, and Finance Trade and Business Avenue.
Canadian City, Gwadar
The GDA-approved society is officially marketed and sold by Zameen.com. The project is famous among investors seeking to eye and rewarding long-term investment prospects. It is considered the best housing scheme in Gwadar right now because it features 5 and 10-marla and 1 and 2-kanal residential plots. Due to high demand among overseas clients, all commercial plots in Canadian City have already been sold out.
The project derives primary interest from buyers looking to adopt to an international-standard lifestyle. Being a part of Gwadar’s revised master plan, Canadian City Gwadar is set to offer remarkable returns on investment. The project is set to deliver an incredible international-standard lifestyle for everyone who envisions a home in Gwadar.
Apart from this, the residents will at all times remain connected to the rest of the city as well as the breath-taking coast because of its ideal location, as it is only 1.5 kilometer from Makran Coastal Highway, 2.5 kilometer from Marine Drive and 15 kilometers from Gwadar International Airport.
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