Gwadar Property Investment
Pakistan purchased the small town of Gwadar from Oman in 1958, but did not begin work on the port until 2002. Gwadar is a deep warm-water harbor 470 kms away from Karachi and an ideal place for a new outlet to the Indian Ocean. China provided US$198 million for the first phase of the port, which was completed in 2006, but was lukewarm about further development. The project however picked up pace in April 2015 when China and Pakistan announced a 46 Billion USD package to develop CPEC and build infrastructure linking Gwadar to Xinjiang region in China. This has resulted in Gwadar property boom.
Gwadar is located at the juncture of South Asia, Central Asia and the Middle East. It is close to the Iranian border and lies at the gateway to the Strait of Hormuz, a key world oil supply route. Geographical environment is considered as one of the important factors influencing the development of human society. The most critical element of the environment is the sea, which occupies almost three quarters of the surface of the earth. The next few decades are likely to see a struggle among powers to secure routes for transportation of resources.
China spends around $18 million on import of 6.3 million barrels of oil as shipment costs from the Middle East, everyday. However if the same trade is done thought Gwadar, it will bring these costs significantly down to 1/3rd of the current levels as new distance will be 3,626 miles to Central China and only 2,295 miles till West China. Even if China only uses CPEC for 50% of its current oil supplies, it will save around $6 million every day.
Infrastructure projects under the CPEC will span the length and breadth of Pakistan, and will eventually link the city of Gwadar in southwestern Pakistan to China’s northwestern autonomous region of Xinjiang via a vast network of highways and railways. Proposed infrastructure projects are worth approximately $11 billion.
The city will also be the site of a floating liquefied natural gas facility that will be built as part of the larger $2.5 billion Gwadar-Nawabshah segment of the Iran Pakistan gas pipeline project. In addition to investments directly under CPEC in Gwadar city, the Chinese Port Holding Company has started constructing a $2 billion Economic Zone, modelled on the lines of the Special Economic Zones of China.
There are roughly 75 residential real estate societies under GDA (Gwadar Development Authority) with NOC . You can confirm the validity of the NOC on the GDA website .
Residential 12677.604 Acres
NOC Issued 75
Industrial 2174.87 Acres
NOC issued 15
Commercial 299.84 Acres
NOC Issued 6
Recreational 381 Acres
NOC Issued 4
Guidelines For Buyers
- GDA has not yet provided the infrastructure required to operate housing societies in Gwadar. The weakness in development of overall infrastructure is clearly visible but presently GDA is not worried about developing the housing sector. Instead GDA is working on development of the port, airport,expressway and other Government infrastructure required for the working of the port.
- Their are only two societies with developed infrastructure (Sanghar and New Town) . All other societies are just barren lands with zero development. Even the famous Golden palm has not even made a site office or a society gate. Fact is no one is interested in the development of housing societies as of now because there is a limited need of developed societies. However in time after the port is developed and people start migrating to Gwadar , GDA will focus more on housing societies.
- As an investment point of view housing societies are not bad as they offer very cheap plots , however do not expect them to develop soon.
- One should be careful when buying open land and should only work with a reliable consultant who has experience.