Pakistan's first ever man made island 'Chaand Taara' worth $10 billion to be built off coast
ISLAMABAD - Pakistan’s first man-made Island is to be built in Gwadar link at a cost of over $10 Billion. The ‘Chaand Taara’ shaped islands representing Pakistan’s flags moon and star will form the cities of the Central Business District.
Located the Marine Drive and stretching towards Zero Point on the Coastal Highway, the Central Business District is to include a state of the art amusement park, Art & Culture Museum, Grand Theatre, Concert Hall, International Expo Centre, 5* Hotels & Resorts, Multiple Shopping Malls and Waterfront Walk and Shopping Promenade to name a few.
The mega-development which will be built around the Gwadar Tower expected to be Pakistan’s tallest building has been detailed in the Gwadar Smart City Masterplan. The 75-page detailed report which has been under development by the China Communications Construction Company a Chinese state-owned enterprise with assets of over $132 Billion and the Government of Pakistan as a joint-venture project.
The 75-page master plan document, prepared by Chinese state-owned company China Communications Construction Company in conjunction with Pakistan’s Minister of Planning, Development & Reform and Gwadar Development Authority and shared with this reporter, chalks out an elaborate road map and plan on how Gwadar is to become the trade and economic hub of South Asia with a GDP per capita of $15,000 – 10 times that of Pakistan’s average.
The Government of Pakistan and China project Gwadar’s economy to surpass $30 Billion per annum in the long-term, creating 1-1.2 Million high paid jobs with an income per capita of $15,000. Pakistan’s current income per capita meaning the economic output the country generates per person is around $1500 which Gwadar will eclipse by some 1000%.
According to Gwadar’s new master plan, the city will become the fulcrum of economic development in western Pakistan, the main port in western Pakistan, one of the westward sea routes in western China, the five Central Asian countries and the trade centres of Afghanistan, South Asia and the neighbouring Middle East.
Megaprojects include a $5 billion investment into Gwadar’s power sector with 15 new power plants, $1 billion invested into generating 700,000 m3 of fresh water per day through desalination plants, a man-made island, central business district, Pakistan’s tallest building all in a tax-free environment where life can be enjoyed whilst avoiding taxes.
Think Dubai but on a much larger scale and in a quicker time frame, the master plan details how Gwadar will become the economic hub of not only Pakistan but the entire South Asian region.
Gwadar is set to see a massive influx of skilled workers and high powered executives as it gears up to become the technological, industrial and high-tech service hub of South Asia. According to the recently released Gwadar smart port city master plan Gwadar’s economic output is expected to exceed $30 Billion whilst creating up to 1.2 Million jobs for skilled workers and professionals.
The master plan details international exhibition centres, multiple theme parks, luxury 5* resorts, botanical gardens and museums in a thriving modern city economy all within Pakistan’s first ‘weapon-free’ city.
Pakistan’s current trade and economic hub of Karachi sees an estimated 65 million tonnes of cargo through the port each year and with Gwadar eclipsing that by 2030 as the key route for trade with the Middle-East, Afghanistan, Central Asia and China, the city is expected to become the regions leading trade centre.