GWADAR REAL ESTATE GETS BOOST THROUGH TAPI PIPELINE
The groundbreaking of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline, also known as the Trans-Afghanistan Pipeline, will bring property values in Gwadar, Baluchistan to unprecedented heights, according to Pakistan’s best real estate website, Lamudi.pk.
Gwadar real estate has already received a huge boost in this year with the initiation of work on the China-Pakistan Economic Corridor (CPEC). The CPEC is a 46-billion-dollar mega project intended to provide much-needed highways, railways and pipelines between Pakistan’s Gwadar and China’s autonomous Xinjiang region.
The TAPI pipeline will have a compounding effect on the value of the Baluchistan port city’s real estate. It will be the third such international infrastructure deal for Pakistan after the CPEC and the Russia-backed “North-South” pipeline, which will connect Lahore to Karachi.
Pakistan’s real estate experts are already seeing big increases in Gwadar’s property values. Mr. Faysal Al Zarooni, Chairman of the Faysal Al Zarooni Group has remarked that the city is an “investment goldmine” and that investors who realize this now stand to profit greatly.
Lamudi Pakistan’s Country Director, Saad Arshed, has commented in the past that local real estate values have “more than doubled” since work started on the CPEC. He predicts that prices will continue to rise as the TAPI pipeline begins.
“Onsite searches for properties in Gwadar have increased by a factor of almost 1,600 percent since December 2014,” Arshad said. “At the same time, the number of listings on Lamudi.pk have decreased by almost 70 percent.
“This is a clear indication that the demand for Gwadar properties is going up and the supply is going down. Investors should see these figures and realize that Gwadar is a safe and lucrative place to put their funds.”