Balouch War, chinese firms, commercial, commercial projects, commercial property, commercial property in gwadar, Door Ghatti, electricity, Gwadar, gwadar city, Gwadar Development Authority, Gwadar port, investment opportunities, large plots, plot purchase prices, plot sizes, port, port city, property demand, REAL ESTATE, real estate crash, real estate investment, real estate prices, recreational projects, resedential, subsidised rates, tax rebates, Terbela, vacant plots, Vacant properties, Zabadan, Ziarat Machi
When the development of Gwadar Port was announced in 2002, investors jumped at what seemed to be a lucrative investment opportunity. Large plots of land were made available to develop residential, commercial and recreational projects, and the demand for property and its value skyrocketed in anticipation of Gwadar becoming a bustling port city.
Unfortunately, several events including the security situation and the real estate crash in 2005 led to a decline in the demand for property in Gwadar.
However, the recent news regarding the takeover of operational control of Gwadar by Chinese firms has created renewed interest in property there; prices have increased by 50 to 150% and are expected to rise further by the end of the year. Incentives for investors include tax rebates and electricity at subsidised rates.
Here is a detailed look at investment opportunities in Gwadar:
Vacant plots are available in different parts of the city including Door Ghatti, Terbela, Zabadan and Ziarat Machi. Plot sizes vary from 10 to 100 acres; larger plots are available in certain areas.
Purchase price range: Rs 0.1 to 1.2 million per acre.
Residential housing schemes including those established by the Gwadar Development Authority.
Plots sizes Purchase price ranges
400 0.8-1 million
500 0.4-0.6 million
600 0.6-0.8 million
1,000 2-2.4 million
Commercial property options are limited to those located in a small bazaar in the main city area known as Balouch War. Several standalone shops (that sell clothes, groceries and sweetmeats) and banks are located there.
Available shop sizes include: 300, 600 and 1,000 square feet.
Purchase price range: Rs 2,000 to 4,000 per square foot.
Monthly rental range: Rs 20 to 40 per square foot.
– Muhammad Shafi Jakvani
The writer is CEO, Citi Associates.
First published in the Real Estate Section of the DAWN National Weekend Advertiser on June 9, 2013.