The China-Pakistan relationship is reaching a new level of success and co-operation. However, a statement recently made by The Economic Times has said that a development of new community in Gwadar, specifically in the International Port City is only for the Chinese citizens. This viewpoint is incorrect.
In an online article, The Economic Times has said that the colony is only for Chinese people to live and work in this region of Pakistan. The truth is that anyone can invest in Gwadar to own and live in property. There were also some other points that CPIC would like to clarify in response to this article.
CPIC project
CPIC is a privately-owned company, providing real estate investment opportunities within the $62 billion China Pakistan Economic Corridor (CPEC). CPIC operates independently from the Chinese government and is solely exists for developing Gwadar. CPIC has opened the invitation for all people from around the world to invest within the CPEC trade route. CPIC in Gwadar aims to provide residence to more than 500,000 professional people.
The Economic Times claims that CPIC had undertaken the International Port City development for it to be dedicated strictly for 500,000 Chinese professionals by 2022. There they will live in a $150 million gated community. Going by these statistics, the area is supposed to accommodate 500,000 people set on 3.6 million square feet of land, however, over 50% of space dedicated to open areas. The only use-able area would be 1.8 million square feet at most, excluding commercial areas and office space and we are left with only circa 1.3 million square feet (or 0.68 square miles) of residential space. According to the article, the population density would equate to an excessively cramped 456 people per square metre which is absurd. In comparison, Dhaka, the world’s most densely populated city has a population density of 71 people per square metre! We can only conclude that the statement made in The Economic Times article is factually incorrect.
Overseas Pakistanis can buy real estate
The Gwadar project is not only for Chinese but is an opportunity for anyone who is planning to invest in real estate in Pakistan. All investors from overseas Pakistanis and people around the world are welcome to purchase land property there.
There are plots within the development area that will be sold to overseas investors and would like to come and spend some part of their life in Pakistan. Anyone who will invest in the plots will have a freehold title when the project is completed. We argue how would a supposed Chinese only colony look like or operate where land is owned by overseas Pakistanis? Gwadar strives to maintain a diverse community that will live together and understand each other as one nation. In future, it will help in the growth and development of both nations.
Gwadar the future financial, trade and economic hub of Pakistan
The rate at which Gwadar is developing and government is investing in its ports, there is the strong opinion that in future it will be a huge financial, trade and economic hub of Pakistan.
Like the International Port City project, it has attracted investments from around the globe with land selling out in record time. The CPIC developers assure investors that transactions meet the international standards because that is the only way more people will be involved in building Gwadar’s future. The CPIC projects are contributing to the huge growth and development of Gwadar. People from around the world will be able to invest in Gwadar that will help make Pakistan popular as an investment opportunity.
Despite the obvious factual errors, CPIC are grateful that The Economic Times have recognised our ground-breaking development which will indeed be the premier community in Gwadar. The article also agrees that the region is set to become a giant financial hub in South Asia. However, as the developers at the forefront of Gwadar’s development, CPIC openly welcome all nationalities, be they Pakistani, Chinese or any other expatriate to invest and live in the area.
Please get in touch with CPIC on the following details: [email protected]; or call: +44 (0)333 733 3337 for more information.