In the last few years, the fishing village of Gwadar has been turned into one of the biggest potential areas in south Asia for trading and investment. After Gwadar was acquired from Oman, it became one of the most important sites in Pakistan. It has attracted international attention as well as local one.
Apart from the fact that the extensive use of Muhammad Qasim port but the addition of Gwadar port will play a vital role in terms of sea trade.
Geographical environment is considered one of the major factors affecting human society’s growth. The most important aspect of the atmosphere is the sea which occupies nearly three-quarters of the earth’s surface. The next few decades may see a battle between forces to secure routes for resource transport.
For Pakistan, the port has significant strategic and economic importance. It is situated at the crossroads of international ocean transport and oil trading routes. Gwadar will serve as the Pakistan center of foreign trade.
Having completed the China Pakistan economic corridor (CPEC), Gwadar the port city draws real estate developers around the country to itself. The Gwadar port is expected to be one of the world’s largest harbors that will open Pakistan’s doors to development and prosperity. CPEC has significantly influenced the real estate market.
Investment in Gwadar
As a result of major developments in the area, the real estate sector in the port city is growing with every passing day. Gwadar is now called the company center and investors at home and abroad are looking to it to invest. Over the last few months, Gwadar property prices have risen manifold- said the Gwadar development authority.
It is important to note that Gwadar’s infrastructure is being built in the immediate future to support heavy developments. To have a strong infrastructure, more employment. GDA (Gwadar Development Authority) works on residential; and commercial development in Gwadar.
This is critical because a lot of people will be coming to Gwadar looking for new economic opportunities with the rise in port operation. This, in turn, would raise the demand for the Gwadar real estate. There are four different forms of investment in Gwadar property that we need to look at.
1. Commercial property
2. Residential property
3. Industrial property
4. Raw land
Current Development in Gwadar
Compared to the past, the market situation in Gwadar is changing day by day; many people are now investing in Gwadar estate, as the investments are offering a decent return on investment because of the steep rise in land prices. Multibillion-dollar transactions are likely to take place in the future as more acquisitions are made.
The real truth of the steep rise in Gwadar’s property prices is the CPEC, as the project began, numerous developers, lenders, construction firms started to buy land, develop buildings, and the housing society that was initiated. There are plenty of plots for sale in Gwadar for now and buyers have an eye on it.
Other Countries and Gwadar
Except for China, various other countries are still involved in investing in Gwadar CPEC ventures. The region has been funded by Saudi Arabia, Russia, and other countries over CPEC.
It is all thanks to the importance of Pakistan’s geographical position and the Gwadar port importance, with its year-round deep warm water. The CPEC project has provided improvements and refurbishments to Pakistan’s transportation infrastructure that begins from Khunjerab pass to Gwadar port passes through Pakistan’s various provinces.
As part of the CPEC program, China has reported $10.63 billion in support for projects in various areas of Pakistan. “Early Harvest” (CPEC highway project) was allotted with an interest rate of 1.6 percent for the construction of $6.1 million. The government of Pakistan approves the arrangement to offer that interest rate and develop road projects while the remaining proposals are still in the planning process.
There are always hurdles and problems associated with taking a new initiative. Gwadar in future will offer the best lifestyle, property and growth rate for every individual. Invest in it now with our experts at Pakistan property leaders.