A positive news surfaced for all Gwadar property market this week as Pakistan has invited Saudi Arabia to become a strategic third partner in the China-Pakistan Economic Corridor (CPEC) and the decision is expected to bring huge investments in the country.
Prime Minister Imran Khan’s recent visit to the Kingdom is so far seems quite successful as Pakistan is expected to receive and economic package worth $8 billion from Saudi Arabia which includes investment in the port city of Gwadar under CPEC Project
A mega oil city project is main project in which Kingdom showed their interest , it is the same project which was abandoned by the UAE earlier this year after due to increasing cost .The 80,000-acres mega oil city at Gwadar will be used to transport oil from the Gulf region to China through the Gwadar Port. This will reduce the distance to just seven days from Gwadar to the Chinese border instead of the current forty days.Saudi Arabia will also be able to help China have a better crude oil supply , China is by far largest oil consumers and highly dependent due to its trade and business activities. Pak-KSA government has signed three grant agreements for infrastructure and energy projects under CPEC in Pakistan.
News has put a new life in Gwadar real estate market which was waiting a clarity over CPEC from newly formed Govt.A dedicated committee headed by Minister for Planning and Development Khusro Bahtiar is formed recently to focus on the development of Gwadar. In recent cabinet meeting it is also decided to priorities four special economic zones (SEZs) in Gwadar and the inclusion of social sector development and third country participation in CPEC. Since PML(N) Govt out of office, Gwadar real estate market has been dictated by rumors that CPEC project is jeopardized but recent developments showing new Govt commitment towards Gwadar development.
Impact on Gwadar Projects:
In few month times from now , we expect to see more activities in Gwadar real estate market which was moving dull from last one year.Investors are advised to hold (if possible) their investment as Gwadar is still a “very much future Dubai”.
Read Investment tip for safe Gwadar projects investment Tips for Gwadar Investments
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