Pakistan's Gwadar to become $30 billion Revenue city

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Pakistan's Gwadar to become $30 billion Revenue city

ISLAMABAD - Pakistan’s first man-made Island is to be built in Gwadar 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.

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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.

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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.

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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.

With a population of some 15 million people, Karachi is Pakistan’s trade centre however in Gwadar the population is expected to rise to only two million yet with trade exceeding Karachi we can expect high standards of living in Pakistan’s first ‘tax-free’ and ‘weapon-free’ city.

Gwadar will require some 15,800 new homes by 2025, 47,600 by 2030 and 254,500 by 2050 according to the new Gwadar Smart City Master Plan. A tax-free haven with high technology industries, man-made islands, science and technology parks, 5* beach resorts, concert venues, exhibition centres, shopping malls and Pakistan’s first ‘weapon-free’ city will see Gwadar economic output reach $30 billion per annum and population balloon to 2 million residents resulting in a mega shortage of housing.

The current supply of quality housing in Gwadar’s is in the 100’s at most and rental demand is burgeoning putting upward pressure on prices. With a ban on new NOC’s for the last 5 years and limited supply within the private sector coming through we can expect to see a massive boom in property prices in Gwadar in the coming years, unfortunately, resulting in a housing crisis.

Pakistan’s first ‘tax-free’ haven Gwadar’s development will see the crescent-shaped man-made islands representing Pakistan’s flag, grand theatres, concert halls, cultural exchange centres, a university city, lakeside shopping mall, waterfront shopping and leisure promenades, parks, golden beaches, 5* hotels and cruise ships linking to Muscat, Dubai, Doha, Bahrain and Jeddah to name a few.

In line with Pakistan and China’s grand development plans for the Port City of Gwadar, the city will be Pakistan’s first weapon-free city. The city is being developed under the highest of international standards to be an economic hub not only for Pakistan but for the region and for this reason a robust security environment will be developed to ensure security for foreigners and expats coming to Gwadar.

The security plans include the highest levels of urban security mechanisms through CCTV, vehicle management, urban video and alarm networks, and police management programs.

Pakistan’s first dedicated high education centre and University City have been planned at the centre of Gwadar’s new masterplan. Built as a city of the future along the highest of international standard’s Gwadar will have a dedicated University City focused on the technology and medical sectors enabling locals of Gwadar and the expected two million population to educate themselves in the most sophisticated environment.

Commenting on the report, Governor Baluchistan Amanullah Yasinzai said: “This project will be a game-changer for the people in the region. It will bring a lot of development and significantly raise the standard of living of the people of Gwadar. I am hopeful that this project will bring huge employment opportunities for the youth of Baluchistan.”

Economy