ISLAMABAD  -  The China Pakistan Investment Corporation (CPIC) has signed a construction agreement with China’s state-owned mega construction conglomerate, BIDR to materialise Gwadar’s two mega residential and commercial projects.

According to a private TV news channel, the agreement was signed by CPIC Global Founding Board member Syed Zeeshaan Shah and BIDR Deputy Director and Chief Design Engineer Liu Bochun at a ceremony in Islamabad.

The agreement included CPIC’s mega projects in Gwadar spread across 10 million square feet of prime residential and commercial real estate outfits, the International Port City and China Pak Golf Estates, the two approved projects by Gwadar Development Authority (GDA).

“The port and economic free zone are both fully operational now and 30 companies from Pakistan and China have committed to investing almost $500 million to develop their industries there. The dream of a Gwadar becoming a key economic hub of Asia is not far away now,” he added.