LONDON: State-owned Chinese construction company, China Civil Engineering Construction Corporation (CCECC), has announced that it has entered into an agreement for the construction of Gwadar's first luxury gated golf community with a Pakistani company.
Empire Properties, the Pakistan registered company, and the CCECC have signed a Memorandum of Understanding (MoU) as the prospective contractor for the construction of the China-Pak Golf Estates, Gwadar's first luxury golf community.
The $265 million (Rs30 billion approx) development is a milestone in the development of Gwadar and will deliver the emerging port city’s most premier residential and lifestyle destination, said a joint press release issued here.
Commenting on the partnership Wang Lei, Managing Director CCECC (Pakistan) said: "It is a great honour to be working alongside a forward thinking international conglomerate like CPIC.
China-Pak Golf Estates is a ground breaking development for not only Gwadar but Pakistan and we are honoured to be a part of this monumental project and contributing to the growth story of Emerging Pakistan.
CCECC are a leading global contractor with 39 years of experience in over 40 countries delivering high quality projects ranging from civil engineering design and consultancy to real estate development.
We aim to deliver a timeless community in China-Pak Golf Estates that will set a new standard to master community development in Pakistan."
Afzal Shah, CEO of Empire Properties said: "China-Pak Golf Estates will truly set a new standard to real estate community development in Pakistan and there isn't a better company we could be working with to deliver this grand vision than CCECC.
I would like to extend a warm welcome to Wang Lei and his team as we embark on this virtuous journey together. Our vision extends beyond developing Pakistan's finest communities, we will change the fabric of Pakistan's real estate industry by setting a new benchmark for integrity and transparency in a market that at times can be described as less than open.”
He said, “Our goal is to elevate the market to the same standards as established international markets.
This will result in the introduction of institutional investment which in turn will revolutionise the country’s real estate sector and deliver the quality of life Pakistanis deserve.”
