Ahmedabad getting to host the 2030 Commonwealth Games is not just a sporting event, but can open doors for real estate, infrastructure and business opportunities for the city in the coming years. Big international events change the fortunes of any city. New roads, new sports complexes, expansion of hotels and sharp increase in investor interest are part of this. In such a situation, it will be interesting to know which sectors and companies will get the most benefit from this big event.
Expenses of sports events and preparations of Ahmedabad
The history of the Commonwealth Games shows that a huge amount of money is spent on such an event and in return the face of the city completely changes. Expenditure has increased continuously in the previous games, from Manchester to Gold Coast this budget has increased manifold. In Ahmedabad too, huge investment is expected on the upgradation of world-class stadium, athletes village, highways and metro routes. This environment will create new opportunities for real estate developers and infra companies.
Expectation of boom in real estate sector
The real estate sector may be seen getting the biggest benefit. With new facilities, better connectivity and airport-linked development, both land prices and demand in Ahmedabad-Gandhinagar can increase rapidly. The value of developers whose projects already exist near stadiums, metro corridors or airports may increase faster. Ahmedabad’s key players such as Arvind Smartspace, Godrej Properties, and Adani Realty can benefit greatly from this potential growth story.
Airport-linked development and travel sector
Due to increase in influx of international passengers during the Games, demand for airport expansion and surrounding commercial properties will also increase. Premium office space, hotels, retail and business complexes can develop rapidly near the airport. This is expected to provide huge benefits to Adani Airports and other airport development companies working in that area.
Golden time for construction and infrastructure companies
The work of stadium construction, road and metro expansion, railway connectivity and hotel projects will increase on a large scale. For this reason, L&T, HCC, GMR and many local infra companies are likely to get new contracts. These companies have shown excellent track record in big sporting events and government projects in the past, which may increase the interest of investors in their shares.
Demand boom in hospitality industry
When a city hosts an international sporting event, the demand for hotels increases manifold. In the long run, the arrival of sports teams, officials and tourists will increase the earnings of the hotel industry and the possibility of launching new hotel projects will also be strengthened. In such a situation, ITC Hotels, Indian Hotels Company (IHCL) and other hospitality brands can get significant benefits.
What’s worth looking forward to?
Official plans, project lists and tenders are yet to be issued by the state government and the organizing committee. As these announcements come out, there will be more movement in the stocks and sectors of the respective companies in the market.
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