One of Pakistan’s most beautiful, unexplored and surreal port cities in Pakistan is Gwadar Future of Real Estate Hub. It is situated on the southwest coast of Baluchistan Province. The largest city in Pakistan, Karachi, is linked to Gwadar via the 650 km long Makran Coastal Highway.
Location of Gwadar
It is situated naturally in the Persian Gulf’s Strait of Hormuz entrance, which transports about 2/3% of the world’s oil reserves. Due to its constant economic and business activity has evolved from a basic city into an important international trading hub.
Pakistan and China share strong ties and an all-season friendship kind of relationship. Pakistan enjoys a very important geographical location worldwide, especially in the context of Gwadar. With the help of Pakistan, China and Central Asian states can boost their economy. Pakistan and China jointly created the trillion-dollar project known as China Pakistan Economic Corridor (CPEC)
China Pakistan Economic Corridor (CPEC)
CPEC is a component of the Belt and Road Initiative (BRI), which intends to increase infrastructure connections between East Africa and Europe through special economic zones, modern telecommunication networks, and industrial and infrastructural advancements. The China-Pakistan Economic Corridor, a gateway in Gwadar, consists of projects totalling more than $62 billion.
The CPEC was designed as a three-phase initiative by authorities in China and Pakistan before it was officially launched in 2015. The second stage is currently underway and will be centred around both countries’ goals to establish and strengthen industrial development by 2025.
By 2030, the third stage will close, which will build on increasing regional connectivity, industrial expansion, commerce, and economic growth. That’s when Gwadar real estate got boosted, and prices skyrocketed.
Future of Industrialization
One of the deepest seaports in the world, located in Gwadar, is spread across 2,281 acres and has the space to accommodate larger vessels weighing 50,000 DWT. There are now three 200-meter-long berths in the port.
New Gwadar International Airport is also being built in the city on a 4,300-acre plot of land. It will have an updated terminal structure and other structures, such as a cargo terminal and a different warehouse with refrigeration for perishable goods. The Gwadar airport will be capable of handling 30,000 tons annually.
It is impossible to overstate the importance of Gwadar’s deep seaport, which is crucial since it serves as a hub for regional trade. It wouldn’t be incorrect to suggest that the CPEC, which includes the Gwadar port, is a revival of the old Silk Road, which used Pakistan as a commercial route to link China with the rest of the globe.
The main goal is to develop Gwadar into an industrial and logistical hub other than Karachi. These developments will boost the Economy of Balochistan as well as Pakistan. Karachi Port and Port Qasim are Pakistan’s other two international ports.
However, adding Gwadar Port will help carry the greater load and enhance transit trade for a healthy revenue stream. Accessible carpeted roads, water, gas power and other important infrastructure, and warehouses are among the developments supporting port operations.
Best time for investment
As of 2022, the CPEC is in its industrial or second cooperation phase, which includes the formation of the Gwadar Free Zone and establishing industrial zones. The project’s initial phase, which covered an area of 60 acres, is already finished. In the Gwadar Free Zone, many companies have actually begun production.
One of their main benefits is that these businesses will receive ongoing tax exemptions. Additionally, the 2,221-acre second phase of the industries is currently under construction. Prime Minister Imran Khan participated in the groundbreaking for the Gwadar Free Zone while he was in Gwadar in July 2021. (Phase-2). It is anticipated to be finished by 2025.
Another reason is the development of the New Gwadar International Airport, which is scheduled to be finished in 2023. With this significant advancement, Gwadar will access another mode of trade and transportation, particularly for perishable goods. As a result, the airport’s opening is anticipated to provide the city with new opportunities and sources of income from around the world.
Construction of hotels, residential and commercial complexes, and resorts to accommodate visitors and potential residents is also gaining momentum under CPEC. There is little doubt that those who enter this contest with real estate will have an advantage. Gwadar will prove to be a game-changer in 2023. The projects that have previously been developed will be the most popular places for investment once it has a greater connection.
Future of investment
Pakistanis have more opportunities to prosper by 2025. Because the Covid-19 epidemic completely changed things, it did not impede development in Gwadar. Construction on critical projects like the New Gwadar International Airport and the Gwadar Free Zone started at full speed as soon as the statewide lockdown restrictions were lifted.
Projects like the Eastbay Express Way, a six-lane urban expressway that will link the Makran Coastal Highway, the Gwadar Free Trade Zone, and the port of Gwadar, will improve the city’s connectivity and general appearance. Gwadar has changed a lot in the past years and has a more peaceful city environment.
Major private land developers from all across Pakistan have become interested in Gwadar as it develops into the nation’s next developing city from a little fishing hamlet. A wide variety of cutting-edge residential developments and commercial endeavours are being built in the port city. These include places like Green Palms, Golf City, and Naval Anchorage Gwadar, to name just a few.
Residential Schemes in Gwadar
There are already many housing schemes in Gwadar: Green palms housing, a Canadian city, Bin Qasim city, Gwadar golf city, Coast way Residencia, and Palm City. These societies are just in their initial phase because Gwadar still lacks my basic facilities. These are just empty plots and files which people buy just for investment.
Future of Hospitality & Tourism in Pakistan
The next three to four years will be critical for Gwadar, and those developers who can keep up with the rate of the city’s growth will profit. In addition to the gated communities that many developers are creating, hotels and resorts that are more tourism-oriented are also in the works.
Gwadar Future of Real Estate Hub
The beautiful coastline of Gwadar is already a well-liked vacation spot, especially for visitors from Sindh and Punjab. It has beautiful undiscovered beaches and mountains which can’t be seen anywhere in Pakistan. It also has a beautiful evening and nightlife with cold sea breeze and views, which makes Gwadar heaven for local and international tourists.
The industry expert thinks that since CPEC is moving well planned, Gwadar should be given a few more years to gain traction. Pakistani real estate developers are making substantial contributions to Gwadar’s real estate development and hospitality framework, while China is working on Gwadar’s industrial infrastructural development side.
Although Gwadar remains the future of real estate in Pakistan. But during this time, Gwadar took a lot of time to become a real estate hub because there were still infrastructure and peace problems in the city. With the completion of CPEC and Gwadar port, Gwadar’s situation may change and attract real estate people more.