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Trends in Property in Gwadar

Junaid Ahmed

Gwadar is a developing port city on the southwestern warm waters of Arabian Sea coastline of Pakistan, in Balochistan territory. It is the central station of Gwadar District and, in 2011, was notofied as the winter capital of the province of Balochistan for that year only. Uptil 1958 Gwadar was under Oman’s control, but was handed over to Pakistan on the 8th of September, 1958. Gwadar has a population of approximately 85,000 and is expected to reach the half million mark soon owing to fishermen and local small business holders migrating from adjacent towns and villages in quest of a livelihood. It is strategically situated at the mouth of the Persian Gulf and is linked to major transportation routes leading into the Gulf. Keeping in mind the innate value of the locality, the Pakistani and Chinese Governments initiated a project to explore the uncultivated potential of Gwadar and constructed the country’s first warm water port, the Gwadar Port, formally inaugurated in March 2007.

Gwadar has the privilege of being Pakistan’s third deep-sea port that is connected to major urban metropolitans including Karachi, Quetta and Hyderabad and the Gulf via extensive sea and land routes. The Gwadar Development Authority’s (GDA) vision is to make Gwadar a feasible and pulsating shipment and transit sea port whilst becoming a key commercial hub with a vivacious social life.

The Gwadar Port provides a wide array of commercial and business opportunities. The city is expected to witness a humongous Defense facility in order to ensure protection and security of the city. All in all, Gwadar is the next big sensation and has been termed as the ‘Special Economic Zone’ of Pakistan where the industrial regime will include zero VAT, business ownership and employment incentives and tax holidays in order to promote and encourage local and foreign investment in the city.

New develpments in not only Gwadar but all over Balochistan are being emphasized now. Real estate prices in Gwadar are rising each day with increasing development. Property for sale in Gwadar includes residential and commercial plots, warehouses and factories. Furthermore, with the port being the focal point of development by the government, Gwadar is bound to escalate in terms of real estate value. Real Estate in Gwadar can be researched through Real Estate websites like Lamudi or Real Estate Agents Like Yousaf Bhai’s. Hence, for those seeking ideal real estate investment opportunities, this is the best place and now is the right time to invest in it and capitalize on development incentives and recreational galore in Pakistan’s new and upcoming metropolitan.

Published in The Balochistan Point on November 7, 2014.

Disclaimer: Views expressed in this article are those of the Author and The Balochistan Point not necessarily agrees with them.

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