The China-Pakistan Economic Corridor, otherwise known as CPEC, is one of the most prolific economic collaborations between China and Pakistan over the years. CPEC Pakistan is essentially an amalgamation of different infrastructure projects throughout Pakistan.
The CPEC project commenced in 2013 and has made tremendous strides in uplifting Pakistan’s economy— it brought in large FDIs from all over the globe. Recently there has been some talk of how the CPEC project would affect the real estate sector in Pakistan. This article will help explain just that.
According to a paper published by the Harvard International Development Research Department, in the next decade, Pakistan will be one of the most elevated areas in Asia. Its annual rate of development is said to rise by 5.07%. This uplift is attributed to the construction and development of the CPEC project.
As a consequence of this economic boom, there will be demands for more and better accommodation in the country. The purchasing power of citizens will increase— they will have more money to invest in land assets. Perhaps will witness this boom in its truest form once the road belt is complete and becomes functional.
There has been quite a push from the CPEC committee for the swift construction of airports at key points along the CPEC belt. One of these being Gwadar— arguably one of the most strategic points on the CPEPC route.
Since the construction of the CPEC project, market analysts have tracked an upward trend in the value of the surrounding land. Both real estate investors, as well as contractors, have seen an ingress of commercial hubs in the vicinity.
The reason why so many real estate tycoons are clamoring for land near the CPEC route is because of the strategic position it offers these real estate schemes. Via the CPEC route, these housing projects will have increased accessibility to different areas as well as the social and economic hubs being developed near the economic project.
As we mentioned earlier, CPEC is a joint economic venture between China and Pakistan. This means it will ultimately lead to an influx of Chinese immigrants as well as tourists. The more people, the more accommodation will be required for them. From the real estate stand-point, we have hit a goldmine.
Some housing projects have the foresight to accommodate for the inflow of tourists— Blue World City has been working on the construction of landmarks that will double as tourist spots. Some examples of this could be the construction of a Blue Mosque replica as well as a Burj Al Arab replica.
Furthermore, the real estate project is set to construct the largest horse mascot in the world— something that is sure to become a popular tourist spot. Thus, these two factors under CPEC will contribute immensely to the growth of our real estate sector.
In conclusion, the CPEC project is turning to be a game-changer for the real estate sector in Pakistan. It still has a while to go before it is fully completed— it’s already bolstered the real estate sector. We can only imagine how great it will be once the CPEC project is complete.
Makeen Marketing is a rapidly advancing real estate firm. We operate from two locations in Islamabad: PWD and F-11. We also have a site office at Chak Shahzad where our dedicated and resourceful real estate agents are ready to help you. We guarantee our client’s tailor-made real estate solutions. Sit back and relax while we put in all the work into finding you your perfect home. For more information, email us at [email protected] or call us at 0330-0625336.