Rafi Group makes ten-fold profit in sale of hundreds of acres of land
Nowadays investment in Gwadar is the best investment one can make. The price of entry today is so low as the projects of billions of dollars under the China-Pakistan Economic Corridor (CPEC) has started and on completion will sky-rocket.
Rafi Group, who has already launched Green Palms Housing Project in Gwadar, says “now is the time to invest in Gwadar” as it gained phenomenal response from the market.
Rafi Group plans to be at the forefront of CPEC related developments to provide a modern living and aspirational lifestyle along with phenomenal investment avenues, delivered with the quality and value for money that clients have come to expect from over the decades.
Analysts told PAGE that property deals in Gwadar are a lucrative investment. The prices of residential, commercial and industrial plots are going up. There is a real estate boom and businessmen from all over the country and abroad are showing interest in the area.
In this city areas, such as Zero Point, West Bay, East Bay, Sangar Housing Scheme, Newtown Housing Scheme, Chib Kalmati, Kiya Kalat, Washin Door, Door Ghatti, Ziarat Machi, Jaurkan, Shanikani Dar, Ankara, Karwat, Shabi, Pishukan, main Jewani Road, main Airport Road and main coastal highway, have become the focus of real estate investors and brokers who seem active in buying and selling commercial and residential plots from one acre to 1000 acres.
They maintained that Gwadar Development Authority (GDA) has reportedly so far issued No Objection Certificates (NOCs) to 60 private housing societies. The rich investors are being lured into buying industrial and residential plots in and around Gwadar on payment under different packages.
Before the port inauguration, there was a dip in property prices in the city. This was mainly linked with the fears about security of investment. Moreover, a land scam also came to surface making people reluctant to invest in residential, commercial and industrial plots here. This trend affected the prices of real estate as people who had purchased residential or commercial plots started selling them to avoid further losses, they said.
According to them, China Pakistan Economic Corridor is an opportunity that can yield unbelievable results. It is to the credit of the Pakistani state that it has brought the strategic environment in Pakistan to a stable enough state that China can take this massive venture on Pakistan.
The gigantic size of investments and projects will advance Pakistan’s infrastructure and economy by decades. Our strategic location in the world has always been a curse and now it has turned into a blessing. China has chosen Gwadar as the Nexus point of its $700 billion new Silk Road.
Rafi Group made a ten-fold profit last year from its sale of hundreds of acres of land in the remote fishing town of Gwadar, acquired soon after the government announced plans for a deep-sea port there.
The windfall came after 12 years of waiting patiently for the Gwadar port to emerge as the centre piece of China´s ambitious plans for a trade and energy corridor stretching from the Persian Gulf, across Pakistan, into western Xinjiang.
“We had anticipated the Chinese would need a route to the Arabian Sea,” sources in Rafi Group said, adding: “And today, all routes lead back to Gwadar.”
Gwadar forms the southern Pakistan hub of China-Pakistan Economic Corridor (CPEC) of infrastructure and energy projects Beijing announced in 2014.Since then, land prices have skyrocketed as property demand has spiked, and dozens of real estate firms want to cash in.
“Gwadar is a ´Made in China´ brand and everyone wants a piece.” The route through Gwadar offers China its shortest path to the oil-rich Middle East, Africa, and most of the Western hemisphere, besides promising to open up remote, landlocked Xinjiang.
Last year, the Applied Economics Research Centre estimated the corridor would create 700,000 jobs in Pakistan and a Chinese newspaper recently put the number at more than 2 million.
Authorities have completed an expressway through Gwadar, which has a 350-km (218-mile) road network. A new international airport kicks off next year, to handle an influx of hundreds of Chinese traders and officials expected to live near the port.
The volume of Gwadar property searches surged 14-fold on Pakistan´s largest real estate database, Zameen. com, between 2014 and 2016, up from a prior rate of a few hundred a month.
Regional fishermen have held strikes during the last two years, to protest against being displaced by the port. To keep pace with the interest, urban officials are struggling to computerize land management and record-keeping. But Gwadar lacks basic education and health facilities, in contrast to the gleaming towers and piped drinking water of the “smart city” envisioned by the GDA.
The government commissioned work on the Gwadar port in 2002, but development was held up by chronic instability in the surrounding resource-rich province of Balochistan, where ethnic separatist rebels have chafed against a military crackdown.
Since China announced the corridor plan in 2014, security has improved, with Pakistan setting up a new army division to ensure protection, while hundreds of rebels surrendered arms.
Real estate firms dismiss fears the ‘Gwadar bubble’ might still burst, pointing to China´s enduring interest. “The risk is always there,” Rafi Group said. “But our confidence comes from knowing this is not a Pakistani initiative, but a Chinese city on the Arabian Sea coast. And the Chinese will see that it is built.”
Major groups belonging to Karachi and Punjab are engaged in real estate and construction business in Gwadar. The business groups from Balochistan and other local investors especially those affluent and feudal figures should also come forward, purchase land for housing schemes and industrial estates in Gwadar and announce special package for the local buyers.