Why Gwadar is Important? Investor’s Eye!
Gwadar International Airport – a symbol of Pak-China friendship backed by a journey of years is all that you need to know about. The impending inauguration of the new Gwadar International Airport, a flagship initiative within the framework of the China-Pakistan Economic Corridor (CPEC), has been officially confirmed by a government’s official. Anticipation is running high as a distinguished delegation from China prepares to journey to Pakistan to partake in the ceremonial opening.
This latest development represents a significant stride forward in the advancement of CPEC, underscoring the robust partnership between China and Pakistan in propelling infrastructural expansion and economic advancement in the area.
A Brief History
Gwadar, a port city in southern Pakistan, has undergone significant transformation through collaborative efforts with China, aimed at positioning the city as a key driver of Pakistan’s economic growth. A notable project in this endeavour is the construction of the Gwadar International Airport, currently nearing completion.
Initially inaugurated in March 2019, the airport is viewed as a crucial element in the China-Pakistan Economic Corridor (CPEC), envisioned to facilitate global connectivity for Gwadar. Managed by the China Airport Construction Group, the airport covers 18 square kilometres, making it the second-largest in Pakistan. China’s support, through grant assistance, has been instrumental in realising this project.
Despite challenges such as adverse weather and logistical constraints, the project has progressed with dedication from both Chinese and local teams. The airport, designed as a modern greenfield facility, emphasizes safety, passenger comfort, and operational efficiency.
Situated 26 kilometres east of Gwadar City, the airport is linked to the city and the national highway network by the East Bay Expressway, a six-lane, 19-km roadway funded by China. This connectivity is vital for seamless logistics and trade facilitation.
Spanning 4,300 acres, the airport site includes a runway capable of accommodating large aircraft, alongside a modern terminal building covering 14,000 square meters. With an estimated cost of USD 246 million, the project is slated for completion in mid-2024, symbolising a significant milestone in Pakistan’s aviation sector and underscoring the enduring partnership between China and Pakistan in driving regional development.
Planned Inauguration of Gwadar International Airport
The journey toward the inauguration of Gwadar International Airport has been marked by a series of adjustments and adaptations. Initially slated for unveiling in September, unforeseen circumstances led to a delay of six months, with 2025 now earmarked for the grand inauguration and operations. These alterations, borne out of meticulous planning within the framework of the China-Pakistan Economic Corridor, underscore the collaborative spirit driving this ambitious endeavour forward.
Gwadar’s Appeal to Investors in 2024-25
Investors eyeing property markets in 2024-25 might find Gwadar particularly enticing for several reasons. Despite global uncertainties in 2020, the China-Pakistan Economic Corridor (CPEC) initiative persisted, backed by strong commitments from both Prime Minister Imran Khan and the Chinese government. Gwadar’s significance was underscored as it began handling transit from Afghanistan and fishing cargo, marking milestones in its development trajectory.
The city’s growth, driven by substantial Chinese investment, has been both rapid and sustained, with major projects like the construction of an airport, oil refinery, and power plants underway. Continuous dialogue and collaboration between the Chinese and Pakistani governments signal long-term investment prospects.
Investors are drawn to Gwadar’s immense potential for financial growth, anticipating a surge in real estate prices in the coming years. Gwadar’s reputation as a safe and secure city, bolstered by significant military presence, adds to its appeal for investors.
Comparisons to thriving global hubs like Dubai and Shenzhen further highlight Gwadar’s allure as an investment destination. Like Shenzhen’s transformation from a fishing village to a global economic powerhouse, Gwadar’s evolution into a strategic port city with special economic free zone status has attracted substantial investment interest.
With ongoing infrastructure developments, such as transport links to Karachi and Quetta, and a focus on energy and green initiatives, Gwadar presents a promising landscape for investors seeking long-term returns. The city’s property market, experiencing sustained growth, offers opportunities for early entry into what promises to be a lucrative investment venture.
Certification by the Civil Aviation Authority (CAA)
In a significant development, the CAA has bestowed Gwadar International Airport with the prestigious certification of a global aerodrome category C for the next two years. This certification underscores the airport’s capability to manage landings under diverse weather conditions, instilling confidence in the safety and efficiency of its operations.
Flight Operation Schedule: Gwadar’s Strategic Three-Day Plan
In a strategic move, the CAA has unveiled a comprehensive three-month flight operation schedule for Gwadar Airport, effective from December 1, 2023 to February 28, 2024. Under this plan, flights will operate on Wednesdays, Fridays, and Sundays, optimising airport utilization while offering travellers greater flexibility. Furthermore, non-scheduled flights are required to provide 24-hour advance notice to the Gwadar Airport administration, ensuring seamless coordination and efficiency in operations.
Advanced Landing System
One of the most notable features setting Gwadar International Airport apart is its state-of-the-art landing system, representing a pinnacle of modern aviation technology. Engineered to accommodate large aircraft like the Airbus A320 and Boeing 737, this advanced system ensures the smooth and secure landing of flights, reinforcing Gwadar’s position as a hub of innovation and progress in the aviation realm.
Conclusion
In essence, the upcoming opening of the Gwadar International Airport marks a significant achievement in the enduring alliance between Pakistan and China, symbolising the advancements brought forth by the China-Pakistan Economic Corridor (CPEC). Despite setbacks, careful planning and cooperation have propelled this flagship initiative, demonstrating a joint dedication to regional progress.
Gwadar’s attractiveness to investors is indisputable, given its strategic positioning and swift development, offering promising avenues for economic expansion. Endowed with certifications like the global aerodrome category C and equipped with front-line landing systems, the airport embodies efficiency, safety, and innovation in air travel. In its entirety, the airport serves as a testament to bilateral collaboration and advancement, poised to drive economic growth in the area.
