Oman handed over Gwadar to Pakistan in 1958. The development work on Gwadar was not started until 2002. USD 198 million had been provided by China in first phase which is completed in 2006. The real development started when China announced China Pakistan Economic Corridor in 2015 with USD 46 billions of investment to build infrastructure for connecting Gwadar with its province Xinjiang. This triggers the property and real estate near Gwadar port.
Gwadar is going to become the economic hub of the region and multimillion dollar trade will be occurring from this port. Companies and investors already have started investing in the real estate of Gwadar. Most of the major investors have acquired thousands of acres of land for building towns and societies. In the past one year the property prices have been doubled and is expecting to increase by time. After the port start working, many people from around the country and also from China will move to Gwadar and so it is likely to get developed soon.
Gwadar Development Authority currently is emphasizing on the development of port, highways, basic infrastructure, etc. Once the port is completed and people start moving in the city the GDA then start making the regulations for societies to build the residential areas.
There is too much hype created about doing investment in Gwadar. Most of the dealers use this hype to loot people by putting their investments on wrong place. If somebody is investing in the housing plots of societies, it is good as the prices of residential plots are reasonable, but one should not expect that these societies will develop soon. Except from two or three housing societies none of the other have not even office and entrance gate there.
This is the golden time to invest in residential and commercial property as the escalation in prices of plots are expected in near future. The advice for investing in real estate of Gwadar is that if you have some extra money, you should invest that very carefully with the help of some reliable consultant and then wait for ten to fifteen years to get a sky high profit.
Rafi group acquired land near remote fishing town of Gwadar, soon after the government announces the deep sea port project. Recently the group made ten folds of profit by the sale of this land. This happened after the continuous wait of 12 years and due to the announcement of CPEC by Chinese government.
Many real estate investors from Karachi, Lahore and Islamabad have already shifted their business from these areas to Gwadar. Hundreds more are visiting Gwadar daily in search of finding room for investment.
According to the report of Applied Economic Research Center the activity at Gwadar will help creating more than 700000 jobs in Pakistan. The Chinese newspaper estimated this figure to be 2 million, which shows that the development of residential and commercial sector will be the necessary to accommodate this much strength of the working people.