Goa Housing Board Plan to form JV Deals in Goa with Builders

Goa Housing Board Seeks Partner for Large-Scale Development Project. The Goa Housing Board (GHB) is seeking a reputed national or international builder for a joint venture in Goa to develop 60,700 sqm of land in North Goa. Goa Housing Board Plan to form JV Deals in Goa with Builders.

Project Highlights:

• Land Parcels: The development will encompass four areas – Colvale, Tivim, Curca, and Penha de Franca.
• Project Types: Open to both residential and commercial projects.
• Partnership Model: GHB is looking for a private developer through a joint venture or a special purpose vehicle (SPV).

Appointing a Transaction Advisor:

• GHB is inviting proposals from property consultants to act as a transaction advisor.
• Responsibilities of the advisor will include:
  • Market study and analysis of Goa’s real estate sector.
  • Site analysis and identification of infrastructure needs.
  • Development of financial models and potential revenue streams.
  • Selection of a private developer through a bidding process.
  • Project management until the joint venture agreement is finalized.

Project Rationale:

• GHB aims to maximize revenue and create a self-sustaining business model for future projects.
• Existing, underutilized GHB properties might be redeveloped as part of the initiative.
• The project seeks to capitalize on Goa’s attractiveness for investors and second-home buyers.

Next Steps:

• GHB has already floated a tender to select a transaction advisor.
• The final decision on a joint venture or SPV will be made after evaluating benefits for both GHB and the chosen developer.

This project signifies Goa Housing Board’s proactive approach to unlocking the potential of their land holdings and revitalizing underutilized properties. By partnering with a reputable builder and conducting a thorough market study, they aim to generate significant revenue and contribute to Goa’s real estate growth.