Influence of CPEC on Real Estate Sector and Development of Pakistan
Pakistan has been blessed with natural resources and is situated at prime location. Due to pivotal geographical location, Pakistan remained in the eyes of various countries for bi-lateral or multi-lateral relations. China is one of those countries which started a project with Pakistan to make its connection around the world.
China-Pakistan Economic Corridor (CPEC) is a major and pilot project to improve the infrastructure in Pakistan and to ease China in accessing the world markets. The idea was proposed by the Chinese President Xi Jinping. Officially CPEC was launched in 2015 and it is of worth $62 billion. The project aims at modernizing the infrastructure of Pakistan and to make it an economically stable country. A 3,218 Km long passage will connect the Gwadar Port of Pakistan with China’s Kashgar. CPEC is going to be beneficial for the economy of Pakistan & will connect China with markets around the globe.
Influence on Real Estate Sector
With CPEC, the real estate sector of country is going to be at new heights of success. The two major elements which are going to impact real estate sector of country are:
- Economic Uplift
- Chinese Immigration in Country
CPEC is going to influence the economy of Pakistan at most. Above all it is going to set up industry at huge span and will be a rich source of new jobs. According to the Harvard International Development Research Department, in coming 10 years the economic growth rate of Pakistan will be 5.07%. This raise will place Pakistan at second number in Asia.
Higher economy means a well developed real estate sector of the country. With bigger economy the demand for housing societies and land would prosper, hence giving rise to the real estate sector.
Chinese Immigration in Country:
As CPEC is a project between Pakistan and China means that many Chinese engineers and workers would be positioned in Pakistan. This deployment is bringing good news for the real estate sector as the residence of the foreign workers would require housing societies in the Gwadar.
Real estate experts estimated that influence of CPEC will result in rise in the values of property. Various housing schemes at Gwadar are offering residential, commercial and industrial plots with good return on investment. One such example is the Dubai City Gwadar project located on main Makran coastal highway of Gwadar. This real estate project offers plots of various sizes i.e. 6 Marla up to 2 kanal. The plots range between eight lacs and 20 lacs. Moreover, commercial and industrial plots are also available for sale at high prices.
It is quite obvious that CPEC will impact the economy of Pakistan to the greater extent. The real estate sector will flourish in coming three to five years and in few years the prices of the land would be at peak.
However, there is nothing to be worry at. Still you can get the plots at reasonable prices. Investment in these societies would bring a great outcome for you in near future. For your satisfaction, you can check the projects which are under development. So what are you waiting for, get up and grab your plots today before it’s too late.