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Why are no developers building in Gwadar apart from CPIC?

Anyone looking to buy property in Pakistan’s port city of Gwadar should speak to CPIC Global in the first instance. They are the market leader in real estate sales in this location and in terms of property development, they are essentially unchallenged.

But why is that the case? In a sector where there is lots of competition between property agents in most areas of the world, CPIC Global have something of a monopoly on Gwadar. In this article we’ll explain why there are no developers challenging CPIC right now and we’ll also highlight why a monopoly can be a good thing.

Were there any property developers in Gwadar prior to CPIC?

The short answer to that particular question is ‘yes.’ Historically, there have been other property developers in the region but they have not made it through to the present day. There are many reasons for that, some of which were entirely down to the individual companies involved with others fell foul of the initial progress in the city which was undoubtedly slow.

Work began in earnest in Gwadar in 2007 and there was an early scramble for some property developers to get involved. Those developers obtained No Objection Certificates, (NOCs), from the local Balochistan Provincial Government so it seemed that they had everything needed to get started.

At that point, however, Gwadar was experiencing problems with essential supplies such as water and electricity. Other factors got in the way and over time, those NOCS expired for a number of reasons. If the project didn’t start on time, then the NOC simply ran out and those initial companies have since withdrawn from the Gwadar real estate market.

Why are CPIC Global the only property developer in Gwadar?

The answer to this question lies with a combination of timing and trust. In 2013, the China-Pakistan Economic Corridor (CPEC), alliance was set up and this is the point where progress really picked up. The Chinese backed projects in Gwadar with billions of dollars and they solved essential problems such as the shortage of water.

CPIC Global came along to take advantage of the new landscape and to set up as the number one property developer in Gwadar. In February of 2019, they became the first ever privately owned company to complete a property handover in the city and that is the mark of trust that investors so badly need.

Unlike those early days of trading, there is currently no room for speculation in the Gwadar property market. The fruits of CPEC’s hard work are now taking shape and 2019 has seen the fastest progress yet in this strategic port city. For CPIC Global, it was all about finding the right time to enter the market and to make that important ‘first’ in terms of property handover. That’s why there are no developers in a position to challenge and it also underlines why investors can complete real estate sales in the region with full confidence.

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