Gwadar real estate business on the rise

ISLAMABAD: The real estate business in Gwadar is attracting investors from across the country, and people are looking forward to the city as a business hub after the China-Pakistan Economic Corridor (CPEC) is completed.

Gwadar Port City is the next best destination for investment in real estate, as a huge area of privately-owned land is being utilised for housing societies in the city.

Gwadar Development Authority (GDA) Deputy Director Changez Baloch told APP that real estate prices increased manifold during the last few months.

“Business situation in Gwadar is changing compared to the past, and many people are in investing in the city, as their investment is giving good return due to sharp increase in land value.”

He said the NOCs of all the investors who were violating the rules and regulations of GDA would be cancelled, and they would not be able to start development work within the government-stipulated timeframe.

He said the GDA was cooperating with investors and taking responsibility for providing municipal services in Gwadar city. However, the development of housing schemes in the city was also causing problems for the citizens.