Gwadar is one of the fastest developing ports of Pakistan and it is a part of Gwadar Master Plan. The port spans over an area of 2,292 acres and it is being developed under the China-Pakistan Economic Corridor (CPEC). Backed by the recent wave of development and modernisation, the CPEC project has been making headlines for a long time. However, there are several unexplored things about the mega project in Balochistan that need to be highlighted and discussed. In this blog, we’ve listed down all the facts about the Gwadar port, Pakistan.
About Gwadar Port
The prospects of the project were first brought into light in 1954, but the official development only started in the year 2007 by Pervaiz Musharraf. In 2015, the authorities announced that the project will be constructed under the supervision of Pakistan China Economic Corridor. The project is meant to connect the Western China and Northern Pakistan making trade and other economic activities easier and much more convenient for both the countries. The Special Economic Zones (SEZ) comprising almost 2,300 acres, are also planned near the Gwadar Port, Pakistan.
The port project is administered by the Maritime Secretary of Pakistan, while the China Overseas Port Holding Company holds the operational charge.
Situated on the coast of Gwadar Beach in Balochistan, the Gwadar Port is one of Pakistan’s recently developing ports. It is determined to be the centre of commercial and economic activities in the country. As mentioned earlier, the port falls under the jurisdiction of the China-Pakistan Economic Corridor, and it is expected to create a number of employment opportunities for both local residents Gwadar and for the overall population of Pakistan.
Some key features of the project are mentioned below:
- Gwadar port is leased to China until 2059
- The port is home to oil recovery system
- It is situated in close proximity with National Highway (N-10)
Real Estate Opportunities Near Gwadar Port
Gwadar is developing at a rapid rate, giving rise to a number of economic activities along with creating various property dealing opportunities. The infrastructure and the overall developments of the city are space at the port, giving rise to the investment opportunities. Many properties are available for sale, a number of real estate projects are in their development stage. Here are some of the upcoming projects that might be investment worthy:
- Marine Drive, nearing its completion, is one project that you can easily invest in. Featuring top quality infrastructure, it is an amazing investment opportunity you might want to take a look at.
- Another project worth investing in Gwadar is the Sanghar Housing Society. It is located at the top of Koh-E-Batil, which is surrounded by the Arabian Sea from all four sides, giving an amazing view to those that occupy the space in the Sanghar Housing Scheme. It has a number of facilities within the society including mosques, parks, golf courses, hotels and resorts.
Importance of the Gwadar Port, Pakistan
The Gwadar Port project – a goldmine for investors – is among the many projects in Pakistan that are reaching their completion. If you have ever found yourself wondering what makes the Gwadar Port so important, we have reduced the legwork for you.
Nobody can deny the fact that Gwadar Port Project has brought several positive developments in Pakistan. Experts believe that the port is going to transform the mechanism of economic activities in the country while simultaneously generating employment opportunities.
For example, the authorities at the port have granted a 23-year tax holiday to potential investors looking in Gwadar. On the other hand, real estate developers seem interested in initiating housing societies in the city. Some note-worthy mentions in this regard are Singhar Housing Scheme, Canadian City Gwadar, Gwadar Golf City, Kings Park Gwadar and Naval Anchorage Gwadar – these projects have already been initiated and are grabbing the interest of property hunters.
The taxes generated from these companies will help fund multiple government projects that will help improve infrastructure, not just in Gwadar, but throughout the country. The development of the port, and the industries will create a number of jobs for the locals in Gwadar, as well as for other Pakistanis.
Gwadar port will also pave ways for new infrastructure to be developed which in turn will be the reason or creation of electricity, in areas that didn’t have these basic facilities in the past.
Note: The government has decided to build two coal-fired power plants of 150 megawatts that will be producing electricity, and supplying to the industries and the local areas as well.
Moreover, the government has introduced vocational training centres to train the residents of Gwadar so that they can work in the newly-developing industries and can finance their families and themselves.
So, these were some of the details about Gwadar Port, Pakistan that you should know about. We have listed the history of Gwadar, a number of real estate opportunities, and its importance.
Keep checking JagahOnline Blogs if you want to know more details about development in Gwadar City. If you have any queries, information, or feedback, you can contact us at email@example.com. If you’re looking for more property options, in more parts of Pakistan, you can check our property listing on JagahOnline.