Upsurge in Need of Housing in Gwadar – Future Analysis
Gwadar Master Plan sets Port City to become a premier economic, trade, investment and tourism hub in region. Increasing bustle in Gwadar will produce upsurge in demand of housing resulting in a massive boom in property rates. Here’s the analysis based on estimated statistics.
Demand of Housing in Gwadar in Upcoming Years
As per the Smart Port City Master Plan, Gwadar’s population is expected to grow around two million in long term. Stats of Gwadar Master Plan tell Port City will require over 15,800 new houses by the end of its first phase of development 2025. This need will further increase to 47,600 by 2030 and 254,500 by 2050.
Owing to the ban on new NOC for past five years and the current deficit in supply of housing from private sector, the demand of rental is increasing so the prices. The influx of investors, traders, tourists, expats and professionals will result in increase in demand of residence and thus the prices of properties in years to come.
Energy and Water Supply Projects for Gwadar as per Smart Port City Master Plan
To support the idea of smart port city as a center of business, trade and tourism, a sufficient and steady flow of energy is required. The power and energy sector entails $5 Billion investments in 15 power plants generating 4000MW of electricity. A 300MW Power Plant under CPEC has already been inaugurated with a cost of $62 Billion which has capacity to fulfill the demand of over 1 Million people.
Likewise Gwadar Smart Port City Master Plan details four mega desalination water plants with a capacity of 700,000 m3 of fresh water per day. These Water Supply Programs will be installed with cost of $1 Billion.
Gwadar is termed to be the Future Shenzhen of Pakistan in terms of its economic prospects and Dubbed similar as of Dubai by Tourism Potential. With a huge hustle and bustle in times to come, Gwadar is expected to see crises in housing sector and rates of properties won’t be reachable which in present are quite reasonably affordable.
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