Naval Anchorage Gwadar: Market after launch of cash files and ground-breaking

Naval Anchorage Gwadar: Market after launch of cash files and ground-breaking

As things become clearer in Gwadar and development progresses, positive sentiments and the general impression about the city have increased as well. Gwadar is the future for Pakistan and that future looks bright. Naval Anchorage is one of the most reliable housing scheme in Gwadar and not without reason.

Naval Anchorage is the first housing scheme launched by armed forces in Gwadar, as the Pakistan Navy is directly involved in its affairs. It is also approved by GDA, and its balloting had been held in December 2017.

Meanwhile, the latest from the housing scheme: they also launched cash files last month (February 2018) during Zameen Expo 2018 Lahore, according to Estate Matters CEO Bilal Shafiq. So, both cash and instalment files are available now. The groundbreaking for Naval Anchorage also took place last month, on 28^th February. This means that development has already started, and things are progressing very smoothly for the housing scheme.

Market Situation

According to Estate Matters CEO Bilal Shafiq, even though healthy interest exists for Naval Anchorage, the asking premium on instalment files has fallen in recent weeks. Whereas earlier it was near PKR 100,000, now it has fallen below PKR 50,000. Shafiq attributed this to the launch of cash files.

Cash files were launched at much lower prices than instalment files, so investors jumped at the chance to buy cheaper plots in Naval Anchorage. Since buyer interest has shifted to cash files, the asking premium resultantly decreased on instalment plots. Things become even clearer when the difference in prices of plots is observed.

Prices of instalment and cash files

Instalment files were initially launched at the following prices:

• 5-marla files were launched at the price of PKR 1,900,000
• 10-marla files were launched at the price of PKR 3,000,000
• 1-kanal files were launched at the price of PKR 4,800,000
• 2-kanal files were launched at the price of PKR 9,000,000

1-kanal cash files were launched at the same time, and are now in the resale stage, so that really hasn’t affected the market. They are priced at around PKR 2,800,000.

The cash files launched in February 2018, on the other hand, were for 5- and 10-marla plots and they were launched at the following prices:

• 5-marla cash files were launched at the price of PKR 1,195,000
• 10-marla cash files were launched at the price of PKR 1,895,000

10-marla plots could be bought at the price of 5-marla plot on instalments. What else could the investors – particularly investors with a larger budget – wish for?

Investment considerations

GDA developers have kept the expectations realistic and the Pakistan Navy is actively involved – the pay order for payment on cash files, according to Shafiq, is made directly to Pakistan Navy – and it can be expected that most of the promises will be kept. The outlook for the housing scheme looks pretty optimistic. Moreover, the amenities promised include healthcare facilities, schools, colleges, parks, and sports and entertainment facilities, among others.

According to Tabani Real Estate Sales Executive Aiman Zahid, for those with the budget to pay the full amount, it is recommended that they invest in cash files – obviously because of the large amount of difference in prices. This means that eventually, the profits will be equally large.

Shafiq had explained that a ceremony is expected in August to highlight the development progress, which will likely include the main boulevard and other major developments. This means that significant development is planned in the next five months, and a positive change in prices may also be observed.

However, it is recommended that any investment in Naval Anchorage – or any Gwadar project, for that matter – should be considered a medium-, to long-term investment, Zahid explained. On the other hand, she emphasised, the returns will be immense once the investment matures.

Are you looking to invest in Naval Anchorage? Do you have any questions about it? You can talk to us in the comments sections. You can also head to the Zameen Forum for a detailed conversation.