New Goa airport may draw Rs 27 bn realty investments
AVIATION & AIRPORTS

New Goa airport may draw Rs 27 bn realty investments

Mopa airport is likely to draw about Rs 27 billion of investments from builders and hoteliers until 2030 as the upcoming North Goa aviation gateway becomes the transport hub of South Asia’s tropical paradise, replacing Dabolim that faced both watch-hour and space constraints.

These investments will be directed towards the Mopa region in the state’s extreme north, where the new airport is based. The funds will be used to build luxury hotels, eco hotels, nature and wellness resorts, and homestays.

"We have seen a huge spike in demand for residential homes in North Goa, anticipating the new airport infrastructure, and we’ve closed a record number of transactions between 2021 and now,” said Samir Saran, Managing Partner, India Sotheby’s International Realty. “We only expect this momentum to strengthen, as the airport becomes fully operational in phases and more airlines announce their flights to MOPA."

Already, the market has started showing signs of picking up with big projects underway by major hospitality players such as Taj, Lemon Tree, and Hilton.

Goa has reported an average occupancy rate of more than 70%. During the extended weekends, the occupancy rates touch the 100% mark. After the airport project, the numbers will further surge, making it a goldmine for hospitality investors, experts said.

South Goa’s Dabolim Airport, being a naval facility, has limited slots for civilian flights, putting constraints on air connectivity to the tiny state that has some of the most astounding beaches in Asia. With the MOPA airport addition, air connectivity with new domestic and international destinations will improve substantially by 2023.

Mopa airport is likely to draw about Rs 27 billion of investments from builders and hoteliers until 2030 as the upcoming North Goa aviation gateway becomes the transport hub of South Asia’s tropical paradise, replacing Dabolim that faced both watch-hour and space constraints. These investments will be directed towards the Mopa region in the state’s extreme north, where the new airport is based. The funds will be used to build luxury hotels, eco hotels, nature and wellness resorts, and homestays. We have seen a huge spike in demand for residential homes in North Goa, anticipating the new airport infrastructure, and we’ve closed a record number of transactions between 2021 and now,” said Samir Saran, Managing Partner, India Sotheby’s International Realty. “We only expect this momentum to strengthen, as the airport becomes fully operational in phases and more airlines announce their flights to MOPA. Already, the market has started showing signs of picking up with big projects underway by major hospitality players such as Taj, Lemon Tree, and Hilton. Goa has reported an average occupancy rate of more than 70%. During the extended weekends, the occupancy rates touch the 100% mark. After the airport project, the numbers will further surge, making it a goldmine for hospitality investors, experts said. South Goa’s Dabolim Airport, being a naval facility, has limited slots for civilian flights, putting constraints on air connectivity to the tiny state that has some of the most astounding beaches in Asia. With the MOPA airport addition, air connectivity with new domestic and international destinations will improve substantially by 2023.

Next Story
Infrastructure Urban

With a strong international presence, we are poised for further expansion

EPC company Varindera Constructions (VCL) has completed 31 construction projects in the past 10 years with 20 ongoing projects in India and overseas as in March 2024. Varinder Kumar Garg, Chairman, shares factors behind the company’s stellar performance in its residential, commercial, metro, railway and institution projects and the material magnitude of the Hasimara Air Force Station project, which plays a key role in deployment and operations of Rafale jets in India, as well as his perspective on the latest technologies, sustainability, skill shortage and the company’s internati..

Next Story
Infrastructure Urban

Campal Stadium Project Delayed

The football stadium and parade ground project in Campal, Panaji, which was initiated under the smart city plan, has yet to be completed, even though it is over a year past its original deadline. The project started on March 21, 2022, and according to the initial work order, it was supposed to be finished by September 20, 2023. Imagine Panaji Smart City Development Ltd (IPSCDL) has reported that 98% of the work is complete, with the final 2% expected to be finished by March 2025. "A small area where the concrete batching plant is situated needs completion," they said. The project's total est..

Next Story
Infrastructure Urban

Cleanliness Control Centre to Monitor Work, Complaints 24X7

Jaipur's cleanliness management system is set to be more efficient with the Integrated Command and Control Centre now operating 24/7. On Friday, Arun Kumar Hasija, CEO of Jaipur Smart City Limited, issued orders to implement this change. Hasija explained that the centre will supervise door-to-door refuse collection, sanitation operations, and mechanized cleaning activities. Special attention is being given to night-time cleaning across the city, with advanced machinery being used to sanitize road dividers in areas like the Walled City. The centre will now operate round-the-clock to improve c..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000