Valor Estate Secures Goa Convention Centre Project with ₹108 Crore Fee
Filing Summary
Valor Estate Ltd has received a Letter of Award from the Government of Goa for the development of an International Convention Centre, Convention Hotel, and associated facilities at Dona Paula, Goa. The project will be executed on a Design, Build, Finance, Operate, and Transfer (DBFOT) basis. Valor Estate is required to pay a one-time upfront fee of ₹108 crore. The project spans approximately 70 acres and will be developed under a long-term concession arrangement. Definitive agreements will outline the detailed rights and obligations.
Valor Estate Ltd has announced the receipt of a Letter of Award from the Government of Goa for the development of an International Convention Centre, Convention Hotel, and associated downstream facilities at Dona Paula, Goa. The award was issued on 18th March 2026 and falls under the Public Private Partnership framework. The project will be executed on a Design, Build, Finance, Operate, and Transfer (DBFOT) basis.
The financial terms of the award include a one-time, non-refundable upfront fee of ₹108 crore. Valor Estate is also required to comply with other financial, technical, and performance obligations as specified in the definitive agreements. The project will be developed on a leasehold land parcel measuring approximately 2,84,775 square meters, equivalent to about 70 acres, under a long-term concession arrangement.
The scope of the project includes the development of an International Convention Centre with large-capacity convention and exhibition facilities, a Convention Hotel, and permitted downstream facilities such as hospitality, retail, and other commercial uses. These components will be developed in accordance with applicable laws and development regulations. The project is structured as an integrated mixed-use development with mandatory infrastructure components and permitted revenue-generating facilities.
The project is part of a competitive bidding process initiated by the Government of Goa. Valor Estate plans to undertake the project through a special purpose vehicle to be incorporated for this purpose. The execution of definitive agreements, including the concession agreement, is required, and the fulfilment of conditions precedent specified therein will govern the detailed rights and obligations of the parties involved.
The timeline for the project’s execution and development will be governed by the definitive agreements. The concession arrangement is set for 60 years, extendable as per the agreements. The project aims to leverage Goa’s status as a destination for business, leisure, and tourism.
Valor Estate Ltd, formerly known as D B Realty Limited, focuses on real estate development and infrastructure projects. The company engages in various projects, including residential, commercial, and mixed-use developments, aiming to expand its portfolio and enhance its market presence.