The mega project China Pakistan Economic Corridor (CPEC) has boomed the real estate market in Gwadar particularly after the inauguration of Gwadar port. CIPIC is a real estate developer company which has won the award of ‘Best Real Estate Developer’ mainly because of a billion-dollar CPEC initiative.
This award was received by Tahir Schon on behalf of CIPIC. The Sindh governor congratulated CIPIC management for winning this award and said:
“The CPIC has been selected for the award from over a dozen leading international developers. The CPIC has been recognized for its work in Pakistan, particularly its gated and secure communities, International Port City and China Pak Golf Estates,”.
CIPIC has been greatly engaged in the development of Gwadar Free Zone which has the credit of giving employment opportunities to the local people of Gwadar. One of the core board members of CIPIC expressed his views on the importance of real estate for Pakistan and said that Pakistan is one among those countries which suffer the house shortage issue worldwide.
CPEC and its other development initiatives will continue bringing more of foreign investment in the country in future that will surely cause a gigantic boom to the real estate market.
It is also anticipated that CIPIC as a private entity will greatly contribute towards the social and economic development of Pakistan as it is functioning with local stakeholders and employs 50% of the local workforce for their multiple infrastructure, and development projects.