Gwadar: a competent commercial rival to Dubai
Gwat-e-Dar (the door of wind in Balochi language) popularly known as Gwadar, located just outside the Strait of Hormuz and at the apex of Arabian Sea, serves as a key shipping route and is an emerging port city in Pakistan. The distance between Karachi and Gwadar is about 460 kilometers and it is located at 75 kilometers away from Iranian border.
With 47 feet depth coupled with its great strategic location, the harbor has potential to grow as centre of trade for most parts of the world. The rhetoric about Gwadar is buoyant, persuasive and even monumental. Proponents refer it as:
A jewel in Pakistan’s Economy
Enormous strategic lure
New Asian trade nucleus
Brief Historical Account
Gwadar was in territory of Muscat, Oman from 1783 to 1958.On 8 September 1958, Pakistan got ownership rights over it by paying an amount of PKR 5.5 billion to the government of Oman. On 8th December 1958, Islamic Republic of Pakistan got its administrative management authority. Later, on 1st July 1977, it was integrated into Baluchistan province and now it is District Headquarter of Gwadar.
Gwadar Port – a leading trade zone of the world
This port was completed in year 2007. In 2013, Gwadar Port operations were officially handed over to China. China aims to further develop it into a full-scale commercial port, with an initial construction investment of USD 750 million. Being the focal point of China-Pakistan Economic Corridor (CPEC), Gwadar is utilizing a huge share of total investment of USD 62 billion. It has world’s biggest ship yard, which makes it important worldwide.
Iran also has plans to set up a USD 4 billion oil refinery in Gwadar with an approximated capacity of about 400,000 barrels per day, focusing on Chabahar as its sister port. With many international investors’ presence, Gwadar is transforming itself from a small coastal town to a cosmopolitan port city.
Climate of Gwadar
The city of Gwadar has hot climate with very little precipitation and highly volatile temperature during winter and summer. Due to oceanic influence, there is lower temperature in summer and better temperature in winter as compared to other nearer areas. Gwadar’s climate is comparable to that of Dubai.
Population of Gwadar
As per 2017 consensus, Gwadar has a total population of 0.263 million people condensed in 39922 households.
Why to invest in Gwadar?
Of course, objective of each business is to gain highest possible returns that can only be reaped by recognizing and utilizing opportunities timely. Gwadar is opportunity hub today, offering a wide range of lucrative prospects for all categories of business organizations. Indubitably, the real estate sector – whether industrial, residential, recreational or commercial real estate – is top gainer, as incentives like tax amnesty and electricity at subsidized rates have augmented its worth. As in June 2016, 10-Square Km Tax Exempted Industrial Zone with an exclusive 200 MW plant has been initiated, the world is ready to embrace Gwadar by 2020.
Today, investing in Gwadar real estate is not comparable to investment in real estate market of any other city. Gwadar is an international port city where many countries will have direct access to international markets and will be able to meet many trading needs of the surrounding countries. This city is bringing a revolution in its infrastructural and commercial set-up, enticing many national and international investors toward greatest gains Pakistani real estate industry has ever offered.
With an active deep sea port and being the part of flagship project of OBOR, china aims to develop it into a trading and economic hub. That’s why; international companies are interested more than ever in this city for investment and trade, hence giving further boost to its significance value. Here, the domestic real estate investor is at critical, time-bound decision point due to sky-rocketing value of city-land day by day.
Successful campaigns – banners on double decker buses in London – have been carried out to inform the world about the future prospects of Gwadar. Being a potential rival to Dubai, many international hospitality chains and housing businesses are being shifting to Pakistan, further strengthening the slogan “Gwadar: The Gateway to Emerging Pakistan”.
Gwadar GEM, an actively busy real estate marketing company fully authorized in Gwadar, has two beautiful projects: Al-Ghani Housing Scheme, and Dubai City Gwadar. This is the high time to invest in residential, commercial or industrial land in Gwadar.