China Pak Economic Corridor, also called CPEC, connects China and Pakistan for the future dominance of business. The impact of CPEC on the real estate business would be immense. The CPEC need is highlighted when China has already conquered the huge production market but faces problems while shipping due to its location. Furthermore, it significantly affects the whole region when you utilize your land. Therefore, the impact of this project on Pakistan’s economy is immense on the real estate industry. The 3,218 KM long highway is currently under construction, as CPEC links farmlands, railroad, formation of industries, property investments, and other Series of development projects. Therefore, the project would contribute to Pakistan’s economic development immensely.
CPEC and Pakistan Real Estate Benefit
The effect of CPEC and Pakistan real estate is outstanding, as the real estate market is boosting rapidly as there will be economic growth. CPEC and Pakistan real estate are integrated. The impact on the economy is substantial, as it is a reason for setting up many industries, thus creating more jobs. The coming ten-year annual development rate of Pakistan would rise to 5.07% as per the survey conducted by Harvard International Development Research Department. The CPEC and Pakistan, real estate sector would boost as the accommodation demand further increases due to an economic boost in the country. Hence, with more people would buy property, and the real estate sector would flourish more. Kingdom Valley Islamabad is the good example of it.
Chinese Immigrants
CPEC is a joint project between Pakistan and China which means that numerous Chinese & Pakistani engineers would be employed in Gwadar and along the CPEC belt. Therefore, this is big news for the real estate sector as accommodating it would need the establishment of small cities CPEC route. So, huge land is required to build safe housing projects with all the world-class amenities. Moreover, Gwadar is a huge port developing similar to significant cities like Karachi, Lahore, and Islamabad. Therefore, Gwadar is the centre point of the project after successful completion. Therefore, property in such central cities would experience a huge boom as there would be a requirement to accommodate the citizens and foreigners.
The effect of talented Chinese immigrants is evident in many housing societies of Pakistan. A blue world city is a good example of the Pak-China friendship. This housing project is built in partnership with Chinese engineers and architects who have created homes and flats for people to enjoy a lavish lifestyle.
Development of Infrastructure
Road infrastructure further increases the value of nearby places. Therefore, the trade route between China and Pakistan increases the proper road infrastructure need. So, the real estate sector is importantly influenced as the prices of houses, plots, and even rental apartments increase i.e. Kingdom Valley Location. It is believed that the population of Gwadar would reach three million. Therefore, CPEC and Pakistan real estate must facilitate the increased population.
Gwadar City would be designed as a mixed-use gated fashion offering residential, commercial, entertainment, cultural, and educational environments. In addition, various educational institutes and shopping malls will open in Gwadar, and more than 1500 homes will be built over an area of more than 3.5 million sq. ft. Furthermore, with various immigrants arriving at Gwadar port, land worth would rise. Therefore, this development would even increase the worth of the real estate sector more.
More Opportunities for People
The progress of the CPEC into the Pakistan real estate industry has importantly changed ever since CPEC was initiated. Pakistan’s real estate industry has caught the attention of investors worldwide who have smoothly begun to look for more investment opportunities in Pakistan. There has been an important rise and growth in real estate projects with such a trend. Moreover, properties considered worthless a few years ago have suddenly become the most demanded pieces of land in Pakistan. As a result, real estate builders and developers are experiencing an increased interest of investors. As a result, a spike in real estate and property prices is expected as more CPEC projects are announced.
Conclusion
The Impact of CPEC on Pakistan’s real estate would be tremendous as it increases the real estate industry in Pakistan, making it a safer & more promising sector of investment. Furthermore, the federal capital Islamabad is seeing important growth of innovative and modern residential & commercial projects with the development of CPEC, such as Fateh Jang Economic Zone and Rashakai Economic Zone. CPEC is closely linked with real estate, and the project is positively affecting the entire industry. You may contact us at Estate Land Marketing for more details regarding real estate and development ventures in Pakistan.
Author Bio
Waqas Hussain is a SEO & Content Specialist. Currently IT Manager at Estate Land Marketing. With lots of experience in SEO, keyword research and WordPress Development. With 3+ years of experience in managing blogs and scaling them from 0 to 100,000+ page views a month, it’s safe to say that I know a things about growing content-driven websites.
