LONDON: Leading private investment house China Pak Investment Corporation has announced its acquisition of the 3.6 million square foot International Port City project in the city of Gwadar. The investment company is currently revising the scheme’s plans in line with international developments standards and will be developing the first of it’s kind $150 million gated master community tailor-made for the expected 500,000 incoming Chinese professionals expected in Gwadar by 2022.
The project which is expected to be renamed China Pak Hills hails an exciting new phase in the development of the port of Gwadar, the ‘Gateway City’ to the $62 billion China Pakistan Economic Corridor (CPEC), the largest unilateral foreign direct investment from one nation into another. The CPEC is set to catapult Pakistan’s stature as a key global trade and economic hub and includes a bouquet of projects currently under construction that will not only improve Pakistan’s infrastructure, but will deepen the economic and political ties between China and Pakistan.
Hao-Yeh Chang, Corporate Communications Director for China Pak Investments Corporation commented, “We believe Gwadar is following in the footsteps of Shenzen which represented a historic population rise, from a population of 30,000 in 1980 to 11 million people in 2017. Gwadar is poised to see massive population growth due to incoming industries, and we expect this to be one of the most strategic cities in South Asia. China Pak Investments is very optimistic on the property outlook of Gwadar and the macro economic situation in Pakistan in general.”
The final master plan for China Pak Hills is currently being refined in Hong Kong, and will feature a range of state-of-the-art amenities including an open-air shopping boulevard; indoor shopping mall; restaurants and eateries; an international school & nursery; six community parks; indoor and outdoor sports facilities including tennis courts and a resident’s gymnasium; a water desalination plant and recycling centre. China Pak Hills will also be home to the Gwadar Financial District, catering to the growing financial sector and adding much needed A Grade office space to Gwadar’s growing market.
With an estimated 500,000 Chinese professionals expected to be living and working in Gwadar by 2022, China Pak Hills will be the first tailor-made master community for the growing number of Chinese residents in Gwadar.
The China Pak Hills master-community is being developed by China Pak Investments and is soon expected to announce options for private sale of limited plots to end purchasers.