Realtors eye Goa as potential warehouse hub in west region

PANAJI: After housing and commercial spaces, the real estate sector is now looking at the warehousing and logistics industry as the new sunrise sector in Goa, said realtors and industry leaders at the real estate convention organised by the National Association of Realtors (NAR) India.

"Real estate has grown beyond what people understand as housing or commercial space. Organised real estate includes warehousing and industrial real estate as well. Goa is poised to become the biggest warehousing destination in western India," said president of NAR India Amit Chopra.

He further said that cold storage units, transportation, pharmaceutical manufacturing and employment generation will benefit from the thrust given on logistics and warehousing.

Speaking at the conclave, former Union minister Suresh Prabhu said that "such gatherings play a pivotal role in nurturing heightened business activities and sector-specific transactions that would benefit Goa and the country".

"Real estate acts as the bedrock for fortifying the Indian economy, and with a forward-thinking government, the current advancements and innovations are essential and attainable," said Prabhu.

Minister for industries and transport Mauvin Godinho said that deliberations between the real estate stakeholders and govt contribute to Goa's growth and also create a positive impact for the nation.

"Goa is emerging as a focal point in the real estate sector. We are pleased to be on the brink of a significant development," said Godinho.

NAR India inked memorandums of understanding (MOUs) with the Northeast Florida Association of Realtors, Greater Bergen Realtors, and the Thai Real Estate Sales and Marketing Association to enhance business development, share best practices and create awareness about business opportunities.

"We are trying to turn a sector that is considered unorganised into an organised sector," Chopra said.

Around 40 foreign delegates participated in the conclave and one of the focus areas was to see how NRIs, venture capital funds and logistics players could invest in Goa's real estate sector.