GWADAR: Chand Taara Island, Pakistan’s first man-made island worth over $10 billion is to be established as a joint-venture project between the Government of Pakistan and a Chinese state-owned enterprise, Chinese Communications Construction Company.
Representing the moon and star on the national flag, the Island will form the residential areas of the Central Business District, stated the released 75-page master plan of the Gwadar Smart City.
The master plan document was a collective effort by Chinese state-owned company China Communications Construction Company, Pakistan’s Minister of Planning, Development & Reform and Gwadar Development Authority.
The amenities of the Central Business District located at the Marine Drive include an amusement park, Art & Culture Museum, Grand Theatre, Concert Hall, International Expo Centre, five-star hotels & resorts, multiple shopping malls and promenade, and waterfront walk.
Once established, Gwadar is set to become the next economic hub of South Asia, with the economy surpassing $30 billion, an income per capita of $15,000 and create over 1.2 million job opportunities for both, skilled and unskilled labour.
The megaprojects to be introduced in the country’s first tax-free and weapon-free city include a thriving power sector with an investment of $5 billion in 15 new power plants, desalination plants worth $1 billion to produce 700,000 m3 of fresh water per day, Pakistan’s first man-made island, a central business district, and Pakistan’s tallest building.
Scheduled to be fully functional by 2020, Gwadar is all set to become the leading trading centre offering routes to multiple countries including Middle East, Afghanistan, Central Asia and China.
To cater to the rising population, which is expected to exceed 2 million, the report has highlighted a need for 15,800 new homes by 2025, 47,600 by 2030 and 254,500 by 2050.
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