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If you have been closely monitoring real estate updates from Gwadar, you have probably already heard the news about a Chinese Company investing $500 million in the city in the form of a project they named China Pak Hills. The news was shared by various news media including new channels, which claimed that the China Pak Investment Corporation (CPIC) is looking to build 500,000 homes for Chinese professionals, who are expected to arrive in Gwadar by 2023.<\/p>\n
Project details<\/strong><\/p>\n The company has reportedly invested $500 million in Gwadar for China Pak Hills Phase I. The details were shared in a press conference, according to which the CPIC has partnered with Top International Engineering Corporation (TICE), a Chinese state-owned company. According to a credible news source, TICE has delivered projects worth over $100 million since 1950.<\/p>\n According to the official website of China Pak Hills, the CPIC has acquired the International Port City project in Gwadar, for which the Gwadar Development Authority (GDA) has already issued an NOC. The NOC number is 74\/04\/HS\/GDA(B), according to the website.<\/p>\n The controversy<\/strong><\/p>\n A few days ago, we came across news reports extensively covered by local news media, in which a spokesperson for the Ministry of Planning, Development and Reform told people to pay no heed to any reports of such a project in Gwadar. According to the news reports, the GDA has not issued any NOC to a housing project of this name. The spokesperson called the news regarding the launch of China Hills baseless and exaggerated, and said that the news source should have contacted the ministry before publishing such content.<\/p>\n The latest developments<\/strong><\/p>\n According to the latest news reports, the CPIC announced that it has all the necessary approvals for the project and expressed dismay at the statement issued by the Ministry of Planning, Development and Reform.<\/p>\n The representatives of CPIC said that CPIC has acquired the said project under the name of International Port City, for which the GDA has issued an NOC, the status of which can also be checked at the official website of the GDA. While talking about the confusion in name, CPIC spokesperson said that the corporation has submitted a name change application with CDA for changing the project\u2019s name from International Port City to China Pak Hills. Reportedly, the authority has received this application.<\/p>\n Clarifying the matter further, the CPIC spokesperson said that they have signed an MoU with Top International Engineering Corporation, which is a subsidiary of Shaanxi Construction Engineering Group Corporation (SCEGC), a Chinese state-owned organisation appointed for the development of this project.<\/p>\n We are yet to get a response from GDA and the Planning, Development and Reform Department on the latest statement given by the CPIC. As and when there is an update, we will share the details with you.<\/p>\n