Accord inked for 2 projects in Gwadar

Islamabad: World’s first CPEC-focused real estate developer, CPIC Global, on Wednesday signed a construction agreement with China’s state owned mega construction conglomerate, BIDR, to materialise Gwadar’s two mega residential and commercial projects, says a press release.

The agreement was signed by founding board member CPIC Global Syed Zeeshaan Shah and Liu Bochun, deputy director and chief design engineer of BIDR. The agreement covers CPIC’s mega projects in Gwadar of over 10 million square feet of prime residential and commercial real estate outfits, International Port City and China Pak Golf Estates - the two approved projects by Gwadar Development Authority (GDA).

CPIC Global is the world’s leading CPEC-focused developer with current projects under development in excess of $500 million. Commenting on the occasion, Zeeshaan Shah, founding board member CPIC Global, said that this is a momentous occasion for us tying up with BIDR.

“We are setting a new standard for community development in Pakistan and working with a global leader like BIDR will enable us to deliver our projects on time and on budget,” he said. Commenting on the current situation on the ground in Gwadar, Shah said the progress over the last 12 months in Gwadar has been phenomenal.

“The Port and Economic Free Zone are both now fully operational and 30 companies from Pakistan and China have committed almost $500 Million to developing their industries there. The dream of a Gwadar becoming a key economic hub of Asia is not far away now,” he added. Commenting on the Prime Minister Imran Khan’s recent visit to China, Shah said that the Chinese have invested in Pakistan at a time when others snubbed us.

“China and Pakistan are all weather friends and China reiterated this by committing to help Pakistan with the balance of payment situation. The trip was particularly encouraging for Gwadar with both sides reiterating the significance of Gwadar as the central pillar of CPEC and agreeing to further expedite development of the port and its auxiliary projects,” he concluded.