DLF plans international convention centre in Goa

PANAJI: Real estate major DLF has bagged the Goa government contract to develop an international convention centre in the coastal state.

The Delhi-based group, being the highest bidder was awarded the contract at Rs 400 crore. The company will pay the state government Rs 161 crore upfront and the project will be developed on a BOT (build operate transfer) basis. “Goa has an international connection; it’s been listed in the top three tourist destination in the world at the turn of the millennium. A conventional centre here will be very profitable,” said Rajeev Talwar, executive director, DLF Group.

The company has been given a 30-year lease and will pay 5% revenue to government from the fifth year onwards. The project will be set up within 18 months over 25 acres at at Dona Paula, Panjim. However, the said land is presently under dispute between the Goa University and state government, but high court had granted Goa government permission to continue with tender process.

Apart from a gymnasium, shopping mall and other recreational activities; the centre will have two international hotels which is likely to be developed by DLF’s JV partner and international hotel giant Hilton. “I don’t see why Hilton won’t partner us here. It’s an excellent opportunity,” said Mr Talwar adding, “Investment in conventional centre brings in one-and-half-times higher returns than normal tourism, since most guests coming here are normally sponsored. It’s very high quality controlled tourism giving highest returns.”

Though Goa hosts several conventions at its many five star resorts; non-availability of hotels due to high influx of tourists and lack of rooms with large seating capacity, has prevented many international conventions from being hosted in Goa, said market analysts.