According to the new Gwadar Smart City Masterplan, the population of Gwadar is to exceed 2 million people in the long run with an increased number of paid expatriate professionals accounting for up to 80% of the population.
Gwadar will become the third-largest city of Pakistan by economic output with high-paid jobs, a tax-free environment, high-tech industries, huge shopping malls, man-made islands and the home to the largest international airport of Pakistan.
Gwadar is to become the trade and economic hub of South Asia as per the 75-page master plan document, prepared by Chinese state-owned company China Communications Construction Company in collaboration with Pakistan’s Minister of Planning, Development & Reform and Gwadar Development Authority. It is expected that GDP per capita of Gwadar will reach $15,000 that is 10 times that of Pakistan’s average.
In the long-term, the government of Pakistan and China project the economy of Gwadar to surpass $30 Billion per annum. This will create 1 to 1.2 million high-paid jobs with an income per capita of $15,000.
The city is to become the pivot of economic growth in western Pakistan, as per the new master plan of Gwadar.
Big projects include a $5 billion investment into Gwadar’s power sector with 15 new power plants, $1 billion investment into generating 700,000 m3 of fresh water per day via desalination plants, a man-made island, central business district, the tallest building of Pakistan all in a tax-free environment.
This will make Gwadar not just the economic hub of Pakistan but of the entire South Asian region.