Pakistan’s first beachfront housing project launched in Gwadar

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KARACHI: With a surging demand for real estate in Gwadar because of the China-Pakistan Economic Corridor (CPEC), a local company, Eiwan, on Thursday launched Pakistan’s first beach front, resort style housing project called Oshun by Eiwan.

Envisioned as a ‘resort style living’ community, this iconic project is nestled in between pristine beaches on one side and miraculously carved mountain ranges on the other, making Oshun by Eiwan, the finest address in Pakistan.

One hundred and fifty real estate dealers flocked to the launch event for Oshun by Eiwan held in Karachi, with the expectation that the project marks a new beginning for the real estate sector in the country. ‘In my 30 year experience in this business, I have never seen such a high level of professionalism and trust in an urban developer,’ shared Rizwan Ahmad, a prominent real estate dealer who travelled from Rawalpindi to attend the event.

While owning a slice of the new silk route is becoming a reality thanks to CPEC, there are lots of real estate firms selling property in Gwadar. Not all of them are trustworthy. You have to pick a developer you can trust. For too long, local investors, overseas Pakistanis, and young professionals have had to navigate a notoriously low trust market, which makes property investments unnecessarily complex and risky in Gwadar.

Fortunately, the Consultants Group, which was given end-to-end responsibility by the Government of Balochistan to manage Sangar, Gwadar’s number one housing project – has now launched a new private sector, urban development company, called Eiwan.

According to sources, a 1000 square yard commercial plot in Gwadar’s Sangar Housing Project in 2015, could be bought for Rs2.6 million rupees. Today, that same plot is worth Rs50 million. This was possible due to the high standards of land governance and digitisation of land records for Sangar, which brought credibility as well as trust to the project.

‘Eiwan is here to revolutionise and professionalise the real estate industry in Pakistan,’ shares CG Holdings Private Limited’s CEO Faiz Kidwai. ‘We currently have builders and constructors but don’t have developers in a true sense in Pakistan. Our vision is to create an urban development company where all our stakeholders are in a win-win situation, from investors to residents, as well the local communities in which we operate. We have a vision to create Pakistan’s most trusted urban development brand for the next 100 years.