The strategic port city of Gwadar is experiencing significant growth on the back of some important developments. It’s fair to say that 2019 has been a landmark year so far with crucial projects being launched while many others have been announced by Pakistan’s Prime Minister Imran Khan.
This is, therefore, an opportunistic time to consider a property investment in Gwadar but we are aware that some potential purchasers remain hesitant. The theory that there is an oversupply of property may be behind that reluctance in some cases so let us use this article to address those concerns.
How many properties are currently available in Gwadar?
CPIC are the market leader in Gwadar real estate and were the first private company to successfully complete a property handover, earlier in 2019. They are currently involved with property sales in two specific locations and purchasers can start by looking at plots in Gwadar international port city.
As an alternative, CPIC Global also have availability as part of China Pak Golf Estates, a luxury, gated community that is getting a lot of interest, enquiries and confirmed purchases. As a combined total between the two locations, there are 3,000 properties available over ten million square feet of land. It’s certainly an impressive total but can it, in any way, be considered as an oversupply?
Which projects could determine property take up in Gwadar?
In order to answer the original question, we need to take a look at what’s currently happening in Gwadar. Development in the city has been steady over the last five years or so but the pace has advanced considerably in 2019.
At the start of the year, the Balochistan government focused its Master Plan on Gwadar as it sought to advance the aims of the China-Pakistan Economic Corridor (CPEC) alliance. Gwadar forms a pivotal part of CPEC and is vital for China as part of their Belt and Road project.
We then saw additional investment from the Saudis before Imran Khan stamped his authority on the region at the end of March. As part of Gwadar Expo 2019, the Premier performed the groundbreaking ceremony in relation to the city’s international airport while announcing additional transport links and other projects in a ten minute speech to delegates.
It’s been a hectic start to the year and it’s one that is having a positive effect on the Gwadar property market.
Is now the best time to purchase real estate in Gwadar?
The pace of growth since the start of 2019 suggests that the theory relating to an oversupply of property is unfounded. Sales and enquiries at CPIC Global are healthy and there is potential for the real estate market to experienced sustained and significant growth for the second half of 2019 and beyond.
Naturally there will always be some hesitant buyers but this may well be the optimum time to purchase real estate in Gwadar. Vast investment and important new projects this year indicate that oversupply will not be an issue.