A port, especially a deep seaport, plays an integral role in boosting the economic activity of the countries and regions. A higher throughput of goods and passengers year on year is directly associated with more infrastructure, provisions, and associated services requirements. In this context, the development of the Smart Port city of Gwadar in accordance with the Gwadar Master plan is important for Asia in general and Central Asian countries in Particular.
Since the Central Asian countries have no other port in close proximity through which they can interact at large for global trade, the development of Gwadar port is crucial for them. With the strategic location near the International Sea Lines of Communication, Gwadar has the distinction to connect South Asia with the markets in Europe, Africa, & the Middle East in the most effective manner.
To capitalize on the rich potential that the smart port city of Gwadar holds, the Pak- China government termed the development of Gwadar as a flagship project under China Pakistan Economic Corridor. In October 2019, Chinese state builder China Communications Construction Company in collaboration with Gwadar Development Authority (GDA) and Pakistan’s Planning Ministry and Reform chalked out a 75-page Master Plan document entitled “Gwadar Smart City Master Plan” which is a blueprint to convert Gwadar into the trade hub of Asia.
The Vision of Gwadar Master Plan
Gwadar Master Plan is a road map to convert Gwadar into the trade hub of Asia and the world in a span of 33 years from 2017 to 2050. The plan envisages making Gwadar a top city in terms of economic output in three decades with features including a tax-free environment, high-paid jobs, mega shopping malls, high-tech industries, man-made islands, luxury resorts, and Pakistan’s largest international airport.
The plan predicts that Gwadar will become a leading trade hub of Asia as it will become a key route for trade with Afghanistan, Central Asia, the Middle East, and China.
Also, the plan envisions Gwadar to be the first weapon-free city that will be equipped with multiple theme parks, international exhibition centers, botanical gardens, museums, and luxury 5-star resorts.
A closer look at the plan
Megaprojects under the Gwadar master plan include a $1 billion invested into generating 700,000 m3 of freshwater per day through desalination plants, $5 billion investment into Gwadar’s power sector with 15 new power plants, Pakistan’s tallest building, a man-made island, and central business district all in a tax-free environment where life can be enjoyed whilst avoiding taxes within security boundaries.
Being an industrial, technological, and high-tech service hub of South Asia, Gwadar will attract a large number of professionals and skilled workers. The population of Gwadar is expected to exceed 2 Million with 80% of the population accounting for high-paying expatriate professionals. Moreover, the coastal city will also create 1.2 million job opportunities with an economic output exceeding $30 billion. Gwadar’s contribution to Pakistan’s economy will exceed $200 billion by 2050.
Key points from the plan
- 2 million population by 2050
- Pakistan’s first tax and weapon-free city
- The third-largest city in Pakistan by economic output
- $30 billion economy output by 2050
- $15.000 GDP per capita by 2050 – 1000% of Pakistan’s average
- 1.2 million jobs and over 250,000 households to be created
- More trade through its port than Karachi within this decade
To wrap things up!
To cope with the massive influx of population the demand for residential will increase. It is forecasted that 15800 new homes by 2025, 47600 by 2030, and 254500 by 2050, according to Gwadar Smart City Master Plan. A lot of commercial and residential housing are underway which are selling Gwadar plots at highly reasonable rates.
If you intend to invest in Gwadar, the best Gwadar port investment is Gwadar Central housing society. The Gwadar Central is a project by New Life Developers which is a renowned name in Pakistan real estate.
Gwadar Central is a GDA-approved housing society with a “Category A” NOC, which ensures preferential development of major Gwadar CPEC related projects in our society.
The housing project offers residential and commercial plots for investment in Gwadar.