The Gwadar port of Pakistan aims to become the business economic hub in Pakistan. The real estate business in Gwadar is attracting the investors across the country and world. Overseas Pakistani are also looking forward to investing in Gwadar. It will be a business hub after the completion of the China-Pakistan Economic Corridor.
Gwadar is the next best destination for investment in the real estate sector. Government and private societies have a huge area of real estate sector investment.
Deputy Director Changez Baloch, Gwadar Development Authority said that real estate prices increased during the last few months. ” It is the new era of development and investment and the situation of Gwadar is changing day by day. Most of the investors are focusing on open land or Agriculture land and government societies like Sangar or New Town of Gwadar.
Now the rules and regulations are changed for investors and there is no chance for fraudulent activity. The NOCs of all private societies are according to rules and regulations and if any society violates the terms and conditions GDA will cancel the NOC of society.
Deputy Director of GDA further said that GDA is fully cooperating with all investors and taking the responsibility for providing municipal services in Gwadar. Gwadar port city has enormous opportunities in the coming few years. Gwadar is aimed to sustain heavy developments in coming few years. Gwadar Development Authority is working on the development of residential, commercial and industrial sectors in Gwadar.
These opportunities are arising and it will cause a lot of jobs opportunities and new economic opportunities will be offered. There are four kinds of investment options in Gwadar.
Economic development in Pakistan:
The economic conditions will change due to the demand of CPEC and investment in the real estate sector, development of Special Economic Zones across the country.
According to the study of Harvard University, in the coming few years Pakistan would rise its economy to 5.07% and it will be second most elevated development in Asia after India.
It will increase the demand for residential accommodation and Industrial sector development and of course, it will demand for real estate sector. Recently govt has imposed some new taxes and causes property to slow down. It will start booming after 2020 and the real estate sector will be led by residential and commercial properties followed by agriculture and industrial land.
Accommodation for Chinese in Pakistan:
CPEC is a joint venture between Pakistan and China and many engineers from Pakistan and China are required to work on this project. It is good news for the real estate sector that it will boost the demand for residential and commercial sectors.
The government is supposed to build new housing societies with all basic requirements and necessities. The Chinese businessmen aimed to capture our local market and the first market will be our metropolitan societies. Even if we focus that Chinese are not allowed to buy properties in Pakistan but there will be a demand in major cities like Karachi, Lahore and Islamabad.
These are points which are keeping the interest of people in the real estate sector. .