Malik Riaz, Bahria Town CEO, is not looking to venture Gwadar but his grandson Malik Bilal definitely has. As CEO of Bilal Steel Mills (BSM), he is about to officially launch his Gwadar project i.e. Golf City. Not only the ties of the two developers are strong, Bilal is also following his grandfather’s footsteps, at least when it comes to carrying out development work, which started even before the project’s pre-launch.
The project is set for its official launch on February 28 and is already making waves in the market. Golf City is one such project that is likely to impact Gwadar’s property market positively. Here are the details we have gathered exclusively for the Zameen Blog.
Project details
Golf City is located in Mouza Paleri, adjacent to Jinnah Avenue II. This part of the port city is the only green irrigated area of Gwadar. Reportedly, the developer has possession of approximately 1,000 kanals of land while the Gwadar Development Authority (GDA) has issued an NOC for 600 acres of land, on which development work is already underway.
Golf City will have a replica of Eiffel Tower, while its other attractions beside the most common ones found in all Bahria projects include a zoological garden, a theme park, a country club, replicas of world’s famous monuments, an international university campus, a water distillation plant, and a civic centre.
Development work
On the development front, work is in on at the boundary wall and the society’s main entrance. Meanwhile, the developer has also completed the basic infrastructure of road network in Blocks A and B, where work is already in advanced stages. Furthermore, construction of a mosque is also underway.
From the looks of it, it appears that development work in phase I will be completed in one year. While the plots for this project are offered on a three year payment plan.
Market response
According to the authorised agents of Golf City, the demand is high for the plot files offered in the pre-launch. They also claim to have run out of the 5-marla plot files – a property size much popular among investors. These agents also claim that there would soon be premium on 5-marla plots.
In addition to being already hot in the market, the number of 5-marla plot files offered by the developer is high, followed by 8-marla and 10-marla plot files. The number of 1-kanal plot files in the existing inventory is the smallest and not much popular.
Plot files on offer
In the pre-launch, the developer issued files for 5-marla, 8-marla, 10-marla and 1-kanal residential plots only, while plans for offering 2-kanal plot files and 4-marla and 8-marla commercial files are in the pipeline. Among these, the investors are particularly looking forward for the commercial files as the developer is looking to develop the commercial area first.
Here is the payment plan for plot files launched in the pre-booking:
| Plot size | Down Payment | Monthly instalment (36) | Total price |
| 5-marla | PKR 225000 | PKR 14,583 | PKR 750,000 |
| 8-marla | PKR 330,000 | PKR 21,389 | PKR 1,100,000 |
| 10-marla | PKR 390,000 | PKR 25,278 | PKR 1,300,000 |
| 1-kanal | PKR 660,000 | PKR 42,778 | PKR 2,200,000 |
It is important to note here that the above mentioned rates are exclusive of development charges. There is also a processing fee for booking these plots i.e. PKR 5,000 for 5-marla and 8-marla plots and PKR 10,000 for 10-marla and 1-kanal plots. Let’s wait for the project’s official launch on February 28 to find out if the rates change.
That was all we could share with you about Golf City Gwadar. As and when more information and updates on the project come out, you will read it the Zameen Blog. In the meantime, if you have feedback or queries for us, please use the comments section below. You can also head to the Zameen Forum to discuss the project further with our property gurus.
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