Gwadar has emerged as the pinnacle of Pakistan-China relations ever since the China Pakistan Economic Corridor (CPEC) came into being in 2015. Traditionally, Gwadar was a village for the fishermen, however, ever since the vision of the CPEC has been realized, a number of development plans have been introduced – all of which have given a boost to the real estate market of Gwadar. Now, as the CPEC enters its second phase and projects are introduced throughout the country, we take a look at the real estate in Gwadar to understand what we should be expecting next.
Real Estate Market Of Gwadar
The real estate market of Gwadar has seen some unprecedented highs during the uptick of real estate sector in Pakistan. A number of infrastructural development projects have been introduced in Gwadar under the $65 billion dollar investment that Pakistan has received from China. In Gwadar, desalination plant, Gwadar International Airport, Gwadar East-Bay Expressway, Gwadar Free Zone, Pak-China Friendship Hotel, Pak-China Technical and Vocational Institute, and Gwadar Smart Port City Master Plan are some of the most promising regimes that are all set to revolutionize this traditional village, and bring it at par with international trade hubs, such as the UAE, and Shanghai.
In a similar pattern, the tourism industry of Gwadar is also being rapidly developed. This 500 kilometer coastal belt is being rapidly developed to support and sustain marine tourism that can further revive the local economy of the region. Local as well foreign tourists are thronging to Gwadar to visit the pristine beaches, while also wanting to set up holiday homes in this up and coming regional trade hub.
It is for this reason that there has been a marked increase in demand for properties in Gwadar. However, the coronavirus pandemic has created uncertainty among the buyers and investors about what to expect from the real estate sector, especially in Gwadar. For this reason, we talked to our reliable sources about the ongoing real estate market situation.
Investment Potential Of Real Estate Market Of Gwadar
Our property experts have revealed the property market in Gwadar has persistently shown an upward trajectory since 2016. Resultantly, Gwadar has attracted a large number of international developers and investors alike.
Recently, Prime Minister Imran Khan also visited Gwadar, accompanied by Chinese Ambassador, Nong Rong. During the visit, PM Khan launched a number of developmental projects in Gwadar, including phase 2 of Gwadar Free Zone, industrial parks, and agricultural units. This has reaffirmed people’s confidence in the regional economic hub and boosted investors’ confidence.
Our property experts are of the view that despite the ongoing Coronavirus Pandemic, the real estate market of Gwadar is standing resiliently. This is because the overseas as well as local investors are thinking of investing here long term. For investment purposes, localities around the New Gwadar International Airport are the best options as these are connected via the main Gwadar Expressway. As you move farther away from the coast, the prices drop. However, this doesn’t mean that these areas will not be lucrative in terms of investment. During the next 6-10 months, as more public projects are developed and operationalized, the prices will soar and give higher returns on investment.
Now is a good time to invest in Gwadar, because the incumbent government hasn’t lost its focus on Gwadar. Moreover, foreign investors are especially waiting for an opportunity to freely travel to the region, after which investment in Gwadar’s real estate is expected to rise again.
If you are looking to invest in Gwadar, find out the best property options in Gwadar here. Right now, property prices are relatively lower, which signals a healthy buying period. The property options mentioned in our guide are all vetted and approved projects, which means your investment here will always be safe.
Gwadar presents itself as the perfect opportunity for Pakistan’s economic prosperity, especially in terms of its real estate sector, especially under the Tax Amnesty Scheme 2020-2021. This scheme has already helped revive activity in pandemic-struck realty, construction and affiliated industries in Pakistan. The same holds true for Gwadar as well, and the next quarter will help us better understand the direction in which the investment should flow.
For this reason, we will keep updating you about all the latest happenings in Gwadar. For any queries, write to us at blog@zameen.com. Also, keep checking Pakistan’s largest property blog, Zameen Blog for the latest on Pakistan’s property sector.
