Besides an array of residential projects at different levels of construction and planning, Goa real estate is witnessing a host of new commercial projects, as well. Goa is going through major real estate revolution with multinationals buying large commercial spaces to develop shopping arcades featuring top-notch brands.
A number of big retailers are coming up with their exclusive showrooms. All this is going top boost up the land prices in Goa in future. Market analysts see the rates for commercial property in Goa to shoot up further in years to come, media reports.
With many big real estate developers, like DLF, Gera Developers, Parsvnath coming up with their commercial projects to be launched in Goa soon, the market is eyeing for a big time leap in property values in both commercial as well as residential sectors.
Many big and small developers are exploring the commercial prospects in Goa and launching their ambitious projects in the state. Real estate players, Parsvnath Group and DLF are planning to develop offices cum shopping malls in Goa.
Jai Bhuvan developers are launching Pentagon Arcade, a commercial space having showrooms of size 120 sq.m on the ground floor and 200 sq.m showrooms on the first floor in Panjim. Plus they are also coming up with a residential cum commercial complex, spread over an area of above 1 lakh sq.ft, having 1 and 2 bedroom flats and shops (22-40 sq.m) on ground floor in Old Goa.
According to Robbin, a Goa Real Estate agent, "Since tourists are the main driving force in Goa and lot of investments comes from them, hospitality projects are a flourishing business in the state." Developers' keep on launching various such projects including holiday homes/villas/apartments, resorts and hotels in Goa keeping in view the contemporary tourists needs and demands.
One such new commercial project is by Sanatan Financers & Real Estates Pvt. Ltd who is developing a resort named, Kohinoor Resort at Sirvoi, Quepem. It offers 114 luxury rooms in several blocks on two floors.
Also in line is a business center by Chowgule Real Estate and Construction Pvt Ltd a fully equipped well furnished office at Miramar.
Owing to such large scale commercial developments taking place in Goa, the Goa commercial real estate is going to be as pulsating as the residential sector in the times to come.
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