How will CPEC help Baluchistan and other provinces of Pakistan

The China Pakistan Economic Corridor (CPEC) initiative is the largest economic venture that the country has ever done. This project which has an estimated value of $47 billion is surely going to prove as a game changer for Pakistan. Many of CPEC related projects are focusing on improving the port facilities at Gwadar and are also focusing on optimizing the road network.

The central objective of the CPEC is building a long highway which will start from Gwadar and end at Kashgar, which will be a distance of 3000Km. The CPEC also has various projects to combat the energy crises of the country.

While it’s a common misconception that CPEC is only focusing on developing Baluchistan and Gwadar, but the truth is that the CPEC project has plans to develop each province of Pakistan. Each of these sub-projects plans to benefit the entire provinces of the country. As private companies are acquiring land for sale in Gwadar they will build up the city with various commercial projects and improve the value of Gwadar property.

SINDH:

At Keti Bundar a project that will benefit Sindh, is known has the Keti Bunder Sea Port Development Project is to be built under CPEC. For generating power in Sindh Engro Thar Block II 2×330MW Coal fired Power Plant is being constructed that will initially supply 660MW of energy.

PUNJAB:

In Punjab an iron ore mining project is being built to extract natural resources in the province and a Steel Mills and process factory is also being constructed at Chiniot, Punjab. Other than these, energy projects such as Quaid-e-Azam Solar Park is being developed which will provide 1000 MW of energy.

KPK:

At KPK a major energy project is being built at a cost of $1,802 million known as the Suki Kinari Hydropower Station which being built at Naran, once completed it will generate 870MW of power.  Other sub-projects include upgrading the road network and infrastructure of KPK.To improve road connectivity the Chitral CPEC link road is built that will connect the Chitral region to Chakdara.

BALUCHISTAN:

A much needed project to solve the water problem at Quetta is the Quetta Water Supply Scheme from Pat feeder Canal which will provide fresh water to the population. The Naukundi-Mashkhel-Panjgur Road Project will connect various regions within Baluchistan.

With around 17 projects planned for Baluchistan, no doubt Baluchistan will get a major share in CPEC but it doesn’t mean it will not benefit the other provinces of the country.

The influence of CPEC on the Real Estate of Gwadar and its Port

China-Pakistan Economic Corridor is perhaps the most important financial venture in the history of Pakistan. With a staggering amount of $47 billion being invested into this huge venture, and will be a source of unlimited benefits for both of the involved countries. The main project which is connecting Gwadar to Kashghar via a 3000 Km highway is already being constructed. Other than the Economic Corridor there are various other CPEC projects of power, construction of infrastructure, communication and port upgrading.

CPEC Objectives:
1- One of the main objectives of the Economic Corridor is to enhance regional partnership and encourage countries running alongside the one belt one road to invest into this venture so that it may promote regional growth.

2- Improve the economic and security situation of Baluchistan and contribute to the economy of Pakistan.

GWADAR CITY:

When talking about Gwadar, these projects had a deep impact on the city and its real estate. The recent developments managed to attract many local investors, prompting them to invest in Gwadar property. This resulted in a rapid increase of the prices of commercial and residential land for sale in Gwadar. Ever since the agreement between the two countries was signed more than 40 GDA new housing scheme are being developed in the city.

GWADAR PORT:

The once sleeping fishing village and now Pakistan’s third deep-sea port is in the process of being upgraded as well. The COPHC is working tirelessly to improve the port facilities, and are adding and installing many new functions and terminals at the Gwadar Port. As of now the port only has 3 berths, the COPHC has planned to develop an additional 4 more berths in attempt to increase trading activity at the port. According to their long term plan, Gwadar port will have staggering amount of 150 berths by the year 2045.

The government itself is facilitating and closely supervising the development in Gwadar, and is ensuring rapid development of roads, highway, and basic life necessities such as water and electricity. It is the opinion of experts that if development keeps on progressing at this rate, the city will become an economic powerhouse.

What are some of the vital projects of Gwadar and Gwadar port?

In recent years Pakistan’s third port city better known as Gwadar has become increasingly significant for the country. What was previously a quiet sleeping village is now a rapidly developing city.

The China Pakistan Economic Corridor (CPEC) has also greatly contributed to the development of Gwadar and its port. This multibillion-dollar project is greatly benefiting the overall infrastructure of the whole country. Gwadar is being transformed into the land of opportunities; the massively unemployed population of Pakistan is in great need of job opportunities that will soon open up with the completion of CPEC and Gwadar Port. According to experts, more than 40,000 jobs are expected to open up all over Pakistan and especially in Gwadar. These advancements in Gwadar are greatly affecting the value of land in Gwadar, and are causing a surge in Gwadar property prices.

The government of Pakistan is working towards making it a major city and is developing various projects for the betterment of the city.

1- The Government of Pakistan has allotted Rs.63 billion for a railway track of 965Km starting from Gwadar and will pass through various regions of the country e.g. Turbat, Rato Dero, and many other cities.

2- A 715km long highway along the Makran Coast has also been constructed that will connect Karachi to Gwadar.

3- The Government is investing further billions in the project to add more manpower to speed up the building process of the port and CPEC project.

4- The Government of China is investing more than Rs.13 billion to build Gwadar Megaport City; its development is prioritized and is anticipated to be an enormous project.

5- The COPHC is overseeing the development of three large multipurpose berths that will expand the trade operations of the Gwadar port and make it a step closer to being a port of global standards.

The Gwadar real estate as previously mentioned is experiencing a lot of activity and more than 50 luxurious housing projects are being constructed to improve the living standards of the residents currently living and also for those who might settle there in the future.

How is CPEC optimizing Gwadar and its Port to enhance the country’s economy?

About just a decade ago, when the plan to build and develop a deep sea port at Gwadar was announced, investors immediately saw it as a very profitable market and a golden opportunity for Real Estate investment. Since then Gwadar went through a lot of development in infrastructure, transportation, communication and facilities. Gwadar now has a functioning airport and a railway system as well.

Then after announcement of the China Pakistan Economic Corridor (CPEC), Gwadar became the center of attention in the whole region. With over 30 projects announced and widespread development throughout Baluchistan, Gwadar’s importance increased even further. According the CM of Baluchistan Sanaullah Zehri CPEC is the financial jugular vein of the country and specifically Baluchistan, which will earn the most profit out of this venture. Other than that he insisted that major businesses and companies should come forward and invest in Gwadar.He further added “This is the right time to invest in Gwadar because property value is affordable. If immediate investment is missed, property value will be much higher and could become unaffordable soon.”

This is absolutely correct because currently Gwadar is most preferred and fruitful market for Real Estate investment and that is due to a number of reasons.

Government Incentives:

The Government is really focusing on the development of the region, and in order to attract investors, the govt has establish special zones and has declared tax amnesty in these special zones, along with subsidized electricity rates.

High investment returns:

According to DAWN news, the revised policy and incentives offered by the Govt resulted in a 100% increase in the value of the landfor sale in Gwadar.

  

Development on modern grounds:

Gwadar as of now is being developed in a completely modern way, with state of the art facilities, and is following a plan to be the future city of economics for Pakistan.

Highly Secured environment:

With the efforts of the Pakistan Army, the instability in the region has decreased significantly and the region is now safer than ever and completely habitable.

Premium Housing Schemes:

Another reason the prices of Gwadar Property, will be sky high is because of the housing schemes that are being developed, not only are they luxurious, they are also available at reasonable payment plans. Once completed the value of the land will increase massively.