Gwadar Real Estate News

ISLAMABAD: The government is considering to shift 20 percent workload of Port Qasim and Karachi Port to Gwadar Port, on the recommendation of Balochistan government, official sources told Business Recorder. Gwadar Port is not yet fully operational.

The federal budget 2008-09 has earmarked Rs1 billion for setting up of Gwadar’s Export Processing Zone (EPZ) and Rs750 million for construction of new Gwadar international airport.

QUETTA: A division bench of the Balochistan High Court here on Wednesday issued notices to the Director General, National Accountability Bureau, Balochistan, and DG Gwadar Development Authority (GDA) for October 28 on a petition on alleged interference of the NAB authorities in private land affairs in Gwadar.

The development work on Golden Palms, a mega real estate project of Hashoo Group in Gwadar, would be completed by the end of next calendar year. Chairman Hashoo Group, Sadruddin Hashwani revealed this while highlighting his group”s role in the development of Gwadar – the future city of Pakistan, at a press conference held here[…]

Senator Babar Khan Ghauri told the Senate on Thursday that Gwadar Port was almost complete and President General Pervez Musharraf would inaugurate it on March 23.

A nine-member bench of the Supreme Court on Monday summoned a detailed report on the allotment of land in Gwadar to ministers, politicians and bureaucrats, and directed the Balochistan advocate general to cancel the allotments and return the land to the provincial government.

Prime Minister Shaukat Aziz has in principal approved the handing over of the Gwadar Port operations to Singapore Port Authority. The decision has been made on the recommendation of Gwadar Port Implementation Authority (GPIA) and the special committee constituted to negotiate the agreement for operations of Gwadar Port.

The Economic Coordination Committee (ECC) of the cabinet on Thursday granted 40-year tax exemptions to the proposed operators of Gwadar port, making it a virtual tax-free port to the extent of its development and operations.

The UAE”s DP World has dropped a bid to manage Gwadar port due to commercial reasons, a local newspaper said on Friday. “We have looked carefully at this opportunity and have decided not to pursue it,” Gulf News quoted a Dubai Ports World official as saying.

The government has decided to give the management control of the Gwadar deep-sea port to the Singapore port operator PSA International, Federal Ports and Shipping Minister Babar Ghauri said on Friday. Ghauri told reporters that Prime Minister Shaukat Aziz had approved awarding the contract to PSA and the company would take charge of the port[…]

The Chinese petroleum industry has indicated an interest in shifting its excess capacity to Gwadar, bringing in estimated investment of $13 billion, a senior government official told Daily Times on Wednesday.

The government will nominate a body for operating the Gwadar Deep Sea Port this week, an official source disclosed. Three international companies – the Dubai Port World, Hutchision Port Holding of Hong Kong and PSA International, Singapore – are competing for the operating contract.

The Gwadar Port should be connected with the rest of the country through rail link. This scheme should be implemented prior to the road links in and around the new port city whose first phase is expected to be inaugurated in December, says a study.

The Senate was informed on Wednesday that Gwadar Port would be operational by Dec 30, 2006. During the question hour, Minister of State for Parliamentary Affairs Kamil Ali Agha said that 90 per cent work on the first phase of the port had been completed.

Located at the entrance of the Gulf and about 650-km from Karachi, Gwadar has immense Geo-strategic significance on many accounts. The continued unstable regional environment in the Gulf in particular as a result of the Iran/Iraq war, the Gulf war and the emergence of the new Central Asian States has added to this importance.

The MCC Resources Development Limited (MRDL), a subsidiary of the China Metallurgical Group Corporation (MCC), has shelved a plan to set up a refinery at Saindak to separate gold from blister copper.

The prices of property in Gwadar that had been depressed for quite sometime because of slow progress of development works in the city and at the port have fallen further following the death of Nawab Akber Khan Bugti, as concerns over the future of the projects mounted.

Gwadar Airport project would be completed by August 2010 at a cost of Rs 7,885 million. In a written reply to question raised by Muhammad Ismail Buledi in the Senate, he said after the completion of planning and designing process the physical execution of Gwadar Airport project is scheduled to start in March this year.[…]

Pakistan and Iran have agreed to a proposal relating to passenger and commercial cargo carriage by private shipping lines between Iranian port of Chabahar and Pakistani port Gwadar, a senior government official told the Daily Times on Thursday.

RAWALPINDI: A Memorandum of Understanding (MoU) for developing the Golden Palms Residential Estate Gwadar was signed on Tuesday between the Hashoo Group and IBEX Construction (Private) Limited, a subsidiary of Frontier Works Organisation (FWO).

ISLAMABAD, Aug 15: The Singapore Port Authority (SPA) which is to run the Gwadar Port has overcome its teething problems and the port is likely to be made fully operational from next month with three berths handling the arriving ships.

Proper Operations at Gwadar Port to start by August 2007 after the installations of bigger Cranes.

GWADAR: Over 28 villages of district Gwadar have been reportedly come under floodwater as a result of overflow in the Meerani dam after reaching dangerous level due to torrential rains and flash floods, the reports said.

The armed forces of Pakistan carried out relief operations in Balochistan following the devastation caused by a cyclone, and helped save hundreds of lives, an ISPR spokesman said on Wednesday.