This is a high quality asset from one of the leading real estate developers in India. The strategic location in one of India's top vacation destinations combined with a large scale of operations and high quality facilities such as a restaurant, spa, gym, multiple pools, daily shuttle to the mall and beach etc. make this a top choice for families looking to holiday in India.
We expect this development to continue to perform at over 50% occupancy on a conservative basis given it's scale, quality and overall quality of management. Tripvillas operations have already commenced and the property is seeing good reviews, high booking velocity and the overall quality of the amenities, service standards, quality of infrastructure has been widely appreciated by guests. As such, we see significant scope for appreciation in the property value and a steady income stream going forward.
Post the Pandemic, we see many well heeled families buying and residing extensively in Goa and communities such as Rio De Goa will benefit disproportionately from this influx.