ISLAMABAD: A CPEC-focused real estate developer, CPIC Global, on Wednesday signed a construction agreement with China’s state-owned mega construction conglomerate, BIDR, to materialize Gwadar’s two mega residential and commercial projects.
The agreement was signed by Liu Bochun, Deputy Director and Chief Design Engineer of BIDR, and CPIC Global Board Member Syed Zeeshan Shah.
The agreement covers CPIC’s mega projects in Gwadar of over 10 million square feet of prime residential and commercial real estate outfits – International Port City and China Pak Golf Estates – approved by the Gwadar Development Authority (GDA).
The CPIC Global is the world’s leading CPEC-focused developer with $500 million projects under development.
“This is a momentous occasion for us tying up with BIDR,” Zeeshan Shah said while speaking on the occasion. “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 within budget,” he said.
Commenting on the current situation in Gwadar, Shah said the progress in Gwadar over the last 12 months has been phenomenal. “The port as well as economic free zone are now fully operational and 30 companies from Pakistan and China have committed almost $500 million to developing industries there. The dream of Gwadar becoming a key economic hub of Asia is not far away,” he added.
Commenting on Prime Minister Imran Khan’s recent visit to China, Shah said China invested in Pakistan at a time “when others snubbed us.” “China and Pakistan are all-weather friends and Beijing has reiterated this by committing to help Pakistan with the balance of payment situation. The trip was particularly encouraging for Gwadar with both sides reiterating the significance of the port as the central pillar of CPEC and agreeing to further expedite development of the port and its auxiliary projects,” he concluded.
Published in Daily Times, November 8th 2018.