A construction deal has been signed between the China Pakistan Investment Corporation (CPIC) and BIDR to initiate two mega residential and commercial projects in Gwadar. BIDR is China’s one of the leading construction conglomerate. The deal was signed by Syed Zeeshaan Shah who is CPIC Global Founding Board member and Liu Bochun the BIDR Deputy Director and Chief Design Engineer. The agreement was signed at a ceremony in Islamabad.
In the agreement, the CPIC’s projects in Gwadar, International port city, China Pak Golf Estates and the two projects approved by the Gwadar Development Authority (GDA) are included.
CPIC Global is the first CPEC centric real estate developer. The present under-development projects under CPIC Global are worth over $500 million.
Shah said, “This is a momentous occasion for us. We are setting a new standard for community development in Pakistan and working with a global leader like BIDR will enable us to deliver our projects on time and on budget.”
Shah further said that in last 12 months there has been huge progress made in Gwadar.
Adding, “The port and economic free zone are both fully operational now and 30 companies from Pakistan and China have committed to investing almost $500 million to develop their industries there. The dream of a Gwadar becoming a key economic hub of Asia is not far away now.”
He also talked about Imran Khan’s recent visit to China and said, “China and Pakistan are all-weather friends and China reiterated this by committing to help Pakistan with the balance of payment situation.”
Further stating, “The trip was particularly encouraging for Gwadar with both sides reiterating the significance of Gwadar as the central pillar of CPEC and agreeing to further expedite development of the port and its auxiliary projects.”