According to a recent report, Rafi Group has earned 10 times more profit as compared to the last year for the sale of land in a remote fishing town of Gwadar as the government revealed its plans for the development of seaport.
This boon in profit resulted because of the long-awaited Gwadar port to emerge as a masterpiece of Pakistan-China’s dedicated efforts in the form of mega CPEC project.
Shehriar Rafi, Chief Executive of Rafi Group states:
“We had anticipated the Chinese would need a route to the Arabian Sea. And today, all routes lead back to Gwadar.”
As CPEC announced the infrastructure and energy projects for southern Pakistan and Gwadar as a central region, the land prices went high up. According to a realtor
“Gwadar is a ‘Made in China’ brand and everyone wants a piece”.
Gwadar also has plans to manage 400 million tons of cargo every year.
Gwadar route offers the shortest path to the Middle East, Africa and most of the Western nations. CPEC has plans to develop seafood processing units in the free trade zone.
Saad Arshed MD, Lamudi.pk said:
“Prices, which have risen two- to four-fold on average, are climbing “on a weekly basis,”. For commercial projects, things are moving fast, but people actually living there, that will take a long time.”
According to the CEO Rafi Group, Zeeshan Ali Khan
“It’s like a gold rush. Anyone who is interested in real estate, be it an investor or a developer, is eyeing Gwadar.”
As the government has developed a separate army division for the security and protection of CPEC but still there are a lot of militants that surround the area. CEO Rafi Group says:
“The risk is always there, 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.”