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.