India International Convention & Expo Centre – A Global Connect with North India

(Artistic impression of IICC)

Delhi NCR will notice one of the biggest developments in future which will impact the capital’s economy and overall growth of the country. With the vision to create a state-of-the-art, world class Exhibition and Convention Facility, Government of India announced its flagship project i.e. India International Convention & Expo Centre (IICC) in Asia’s largest sub-city, Dwarka. This impressive centre will host international exhibitions, trade fairs and summits etc. on a larger scale. This project is being developed in Sector -25, Dwarka which will be on par with the best in the industry worldwide, in size and quality.

MICE: India’s connect with Global Economy
Being the global marketer of Meetings, Incentives, Conferences & Exhibitions, MICE significantly drives the economy of a large number of nations in the international forum. Yet, India being a prominent contributor to this global market, hasn’t benefited much from this development due to lack of exhibition and conference facilities. Hence, to embark the journey forward and take a lead, this project will emerge as Asia’s largest convention and exhibition centre.

(Artistic impression of convention hall)

IICC is not just a convention and expo centre, but a vibrant hub for international & domestic business which will further boost the national economy in various fields. Let’s have a glance in the facts & features of this project –

  Certain significant features of the project:

  1. Total Area – The project is developed on an area of 221 acres with 1 million sq.m. of built-up space.
  2. Revenue Generation – With an investment of over Rs. 25,703 Cr., the total estimated of business generation at MICE market from this project is $280 million.
  3. Footfall Expected - By the end of 2025, over more than 23 million visitors are expected in 100 international and domestic exhibitions & events annually.
  4. Future Careers - The project will create over 5 lakhs direct & indirect jobs
  
(A view of planned architecture of the project)
b.Certain prominent areas in the project:

There will an exhibition centre comprising of 5 halls spread over 3.03 lakh sq.m.
  • Convention Centre – The convention centre plans to hold 10,000 delegates at one time in the areas such as Plenary Hall, Grand Ball Room, Meeting Rooms and Sky lobby.
  •  Integrated Mixed-use District – Apart from exhibitions & conferences, hospitality & entertainment also remains at high priority for the end users who can explore 8 hotels and service apartments spread over an area of 3.60 lakh sq.m.
  • Multi-purpose Arena – The project will also have one of its kind India’s first Multipurpose arena of 50,000 sq.mt. with a retractable roof, making it viable to use at all seasons. With the seating capacity of 20,000, this arena is designed to host live entertainment shows and sports events.

Major Implications of the project –

(Artistic impression of the grand entrance of Convention Hall)

The main driving factor for this project is to promote various national and international schemes exclusively designed to boost the country’s economy in tourism and trade & commerce. Since tourism remains one of the biggest contributor in Indian economy, hence, this project will enhance the country’s tourism to generate funds for future growth & development.

IICC relates to the thought to put India in the foyer of World economy with:

  1. Investment –There is the unprecedented scale of investment in one single sector, our country has ever witnessed till date.  This implies the stringent growth of economy of the country to emancipate in future and match the standards of global economy of certain developed countries.
  2. Scale of work –There is the unprecedented speed of work towards this iconic infrastructure development, which will generate a major boost in the national economy towards the growth of certain parameters such as GDP, per capita income etc.  This massive structure acquiring 1 million sq.mt. of built-up space, promises to generate $280 million revenue in MICE market, which will further create direct & in-direct numerous job opportunities in hospitality, entertainment & lifestyle sectors, apart from exhibition & convention centre.
  3. Intent –There is a major drive from the government towards the completion of the project. The first phase comprising of the convention centre with seating capacity of 10,000 guests, two exhibition halls spread over 80,000 sq.m area and a foyer, will be ready by October 2019 based on non- public-private partnership (PPP) content. However, the second phase comprising of remaining exhibition areas along with end-user facilities of such as hotels, retail spaces and offices will be completed by 2024 on the public-private-partnership(PPP) mode.

Impact: Biggest influence in Real Estate market
(Artistic impression of Foyer & entrance of Exhibition Hall)

As per the estimations, IICC Dwarka will generate an annual demand of hosting at least 100 international & domestic events and 10 million annual visitors are expected by 2019-20, which will be followed by 23 million after the launch of second phase in 2025. This massive footfall will boost the real estate market to its peak in the vicinity areas of Dwarka. Apart from this explicit count, this proposed development in the capital will emerge as the centre of energy of 80 Cr youth and further estimated to generate over five lakh direct and indirect employment opportunities. These major factors will impact profusely in the real estate market and generate housing needs among the people, which will further increase the demand for exclusive housing projects in the near-by locations.

Being Asia’s largest sub-city & potential investment zone of future, Dwarka will notice certain eminent umpteen developments in commercial & real estate sectors. Dwarka Expressway, known as the National Highway will connect this eminent hub to the prominent locations of Delhi NCR. And, there are multiple real estate brands forecasting its exceptional growth on its on-going projects within the neighborhood, which are both completed and delivered to the clients or on the advanced stage of completion.

PNC Menon, Chairman Emeritus, envisioned this potential rise in demand of luxury homes around this project and propelled his thoughts to cater such demand broadly in two categories of housing development such as apartments and individual homes. Hence, Sobha launched its exclusive villa township project ie. International City in 2011 & luxury apartment project i.e. Sobha City in 2016. Come & experience “The Sobha Way” of making homes in Sobha Sales Gallery, sector 108, Gurgaon.

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