Yasho Bhoomi: India’s Big Bounce in Conference Tourism & Real Estate Boom!
Prime Minister Narendra Modi has recently inaugurated India’s biggest convention center, “Jasabhoomi” at Dwarka in Delhi. This ambitious project is expected to transform India’s position in the international conference tourism sector, which is estimated to be worth Rs 25 lakh crore. As a real estate specialist, I will discuss the intricacies of JASBHOMBIA’s effect on Dwarka expressway property. The inauguration of JASBhoomi is in line with Prime Minister Narendra Modi’s vision to increase India’s share of global conference tourism, which is currently at a paltry 1 percent. Jasbhoomi, along with Bharat mandapam, symbolizes India’s determination to host international conferences, meetings, and exhibitions, demonstrating a bold move towards global prominence.
At the unveiling of the facility, the Prime Minister invited stakeholders from all over the world to take advantage of its facilities. Conferences, meetings, conferences, and exhibitions are the mainstay of conference tourism, which is defined by the United Nations World Tourism Organization (UNWTO) as any gathering of 10+ people for at least 4 hours at a contracted venue over 50 miles from home. The term conference tourism is often used interchangeably with MICE tourism, which refers to meetings, incentives, conferences, exhibitions, and so on. With a project area of over 8.9 Lacs and a built-up area of more than 1.8 Lacs, the facility is set to be one of the biggest MICE facilities in the world. The combination of Indian culture and modern facilities at Bharat mandapam, and Yashoghoomi, symbolizes India’s narrative to the world.
With the launch of the new building, there is a huge demand for office space and residential property in the vicinity. Businesses associated with the new building are actively looking for office space in the vicinity. Hence, there is a need for commercial development in the vicinity. The scope of projects along the Dwarka expressway and the commercial sectors are expected to witness significant growth. Fortune 500 companies are looking to set up shop in the vicinity of the International Airport.
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