With Flight Testing in MOPA Airport, spotlight turns to North Goa

By –  Ankit Kansal, Founder & MD, Axon Developers

The phase 1 of the Rs 2,300 crores MOPA airport in North Goa is nearing completion, with the recent test run of the flights on the runway. The mega airport project, which will be the second airport after the Dabolim in Goa will bring the spotlight to the beautiful landscapes of North Goa and the adjacent Konkan region. It will also decongest the existing Dabolim airport.

North Goa is recognized all over the globe as it has some of the most beautiful beaches. It is home to world-famous sea beaches such as Vegator, Morjim, Anjuna, etc. However, the region has equally enthralling hinterlands. The interiors of North Goa are known for exotic flora and fauna, beautiful landscapes, and tranquil lush green rural backyards. The nearby Konkan region which includes Sindhudurg, Ratnagiri, etc. are equally mesmerizing. A temperature that mostly ranges from 20-33 degree Celsius throughout the year is the icing on the cake.

However, the spellbinding natural beauty of the region has hitherto been eclipsed by Goa’s electrifying beaches, musical & cultural festivals, and nightlife. This might change in the future with the international airport coming into operation.

Investors Paradise

The airport with an initial capacity of 4.4 million tourists annually will transform the region into a bustling destination for plotted developments, second homes, gated villas, and much more. Not just homebuyers but investors will also pivot to the region. As per the research, property prices will jump by 27-30% annually after the start of the airport. Already ascending tendencies are visible in the market.

The rental market is also expected to register a steep jump. Presently, the rental yields are in the range of 4.1- 7.2%, which will further increase fast. In the new normal, there is a growing demand for long leases and workation. Working professionals, technopreneurs, professional service advisors, and creative artists increasingly wish to decouple from the regular 9-5 office working schedule and spend time amidst nature to work and think better.

After getting seamlessly connected with the globe, the beautiful hinterlands of North Goa will witness a natural growth in long leases and extended weekend gateways. The region with extensive farms, woods & forests, hidden springs, and hilly terrain is a perfect gateway for professionals looking to unwind and relax alongside continuing their work uninterrupted.

In addition to catering to the domestic market, the beautiful landscapes of North Goa will give stiff competition to Thailand, Bali, & Vietnam in attracting the international digital nomad workforce.

This will give a major facelift to real estate activities.

An Era of Concept-based tourism

In addition to a windfall in real estate investment, the MOPA mega project will also transform the region into a bustling concept tourism hub. The beautiful region will complement leisure and business tourism with the proliferation of innovative concept-based hospitality projects. In the foreseeable future we can see increased investments in wellness spas, ayurvedic centres, naturopathy centres, yoga & spiritual retreats, and much more.

Similarly, the Food & Beverage Industry in Goa can see a huge spurt in investments. Goan food is known for its unique flavours & aromas and is amalgamation of Konkani, Malavani, Maharathrian, and Portugese style of cooking. In a time, when cultural tourism is no more just a niche idea but is becoming mainstream, the rich culinary tradition of North Goa can find more investors.