Mukesh Ambani’s Jio was recently named India’s strongest brand, and the oil baron-turned-tech mogul announced his plans to manufacture the JioPhone Next at Reliance’s 44th AGM.
In a way, this news has rejuvenated Dholera gold rush that seemed to have faded away in the past couple of years. As a realtor myself, I found this news to be quite motivating, but there’s a lot more to it. Today, I will share some insights on what’s going around in Dholera SIR these days and what it means for you.
Jio Phone Next in Dholera: The full story :-
I find that most people are amazed after hearing the news that the Google-powered affordable smartphone will be manufactured in Dholera. This shouldn’t be as surprising as it sounds because a lot of work has been happening in this direction for a decade. Let me give you a background of the recent developments in Dholera:
Dholera SIR has a functional 150 sq km firing range that makes it the best avenue for defence equipment manufacturers, with Gujarat already having its own defence policy approved by the central government. The construction of Dholera international airport was announced recently, and the tendering for Phase 2 is already out. This airport is going to share the load with Ahmedabad international airport as the latter is already utilised to its full capacity. Combining this with the six-lane Ahmedabad-Dholera expressway, the overall connectivity is going to be one of the best in the country. The educational institutes, medical facilities, and the hospitality sector are believed to start setting up their establishments in 2-3 years.
Let me also inform you that a 2,000 MW renewable energy project is also being set up here. The proposed Greenfield smart city is being developed in three phases and 12 zones to house over 20 lakh residents with one lakh highly skilled labour. This city will create a new type of migration where the best brains in the nation will join hands with the international community to create opportunities for tomorrow’s world. Thus, it’s going to be a truly global city built ground up to achieve this vision, unlike today’s contemporaries like Dubai and Singapore that had some amount of geographic constraints. Thus, corporates like Reliance will benefit from the richest chunk of India’s demographic dividend apart from the pro-business policies and incentives.
Thus, we can agree that JioPhone Next coming to Dholera SIR is not a one-time decision driven by incentives. It is a well calculated strategic move that is intended to take full advantage of infrastructural as well as high-grade manpower availability.
What does JioPhone Next mean for other businesses planning to enter Dholera:-
two of the world’s strongest corporate houses have already entered Dholera SIR, there’s no doubt that business opportunities will grow exponentially in the near future. As I mentioned earlier, Dholera is suitable for a broad range of industries, and it is equally appealing for export-oriented industries given the nature of incentives offered. But I believe what works in Dholera’s favour is the relatively cheap land prices. The SIR is in its commissioning phase, and therefore it’s the best time to buy property/land in this region. On the flip side, this allows real estate developers like us to be more generous with the quality of properties we offer without the final prices looking sky high.
To be specific, JioPhone Next’s announcement alongside the international airport is a signal to realtors and investors. This indicates that the basic infrastructural issues are addressed, and businesses can start investing in various projects. Both the airport and Dholera expressway are scheduled to be completed in the next 3-4 years, while various supporting sectors will flourish in the meanwhile. Also, major aviation players are looking forward to restarting their plants to establish manufacturing facilities. But the biggest news in this direction comes from Reliance itself. The four gigafactories announced by Ambani are likely to be built in Dholera SIR. These projects worth Rs 8.4 billion will drive a gigantic wave of investments from leading MNCs and Indian business houses as well. In fact, Tata Motors is speculated to develop its EV battery plant in Dholera in collaboration with other firms specialising in battery production.
What’s in for SMBs:-
With the top guns aggressively putting their plans into action, smaller organisations, especially startups, should grab the opportunity to secure commercial properties quickly. With industries of this scale setting up their facilities in Dholera Smart City, they can benefit tremendously from the spin off business and human resources that will enter the market.
It’s noteworthy to say that Google’s executives have already surveyed the proposed site, and it won’t be a matter of surprise if Reliance’s other investors come up with their separate establishments in the times ahead.
Outlook for Dholera’s real estate market after JioPhone Next announcement:-
The land prices have already started to increase, but I believe that it will rather gain momentum in an exponential manner. The reason is simple: Due to the news of Dholera surfacing for over a decade, a perception was created that it is some sort of a bubble. But if you would ask any realtor, a project as big as Dholera SIR which is at par with Dubai and Singapore in terms of area and designed to outperform them will take 20-30 years at least. Now is the actual time when someone should think about investing in this project, and we ourselves are focusing on coming out as pioneers in this region’s development by 2040. So you can pretty much understand the timeline and scale.
If any business buys commercial property today or, as a matter of fact, a retail investor buys residential property, the return will be fourfold in the next decade. This horizon also resonates with India’s property cycle, which makes us very confident when we say that the JioPhone Next is among the first few big names, and a lot of them will be added to the list shortly. We’ve ourselves invested in 20 projects, and once finished, we’re only going to reinvest that money until there’s a single hectare available for us.
This is the beginning of Dholera SIR’s property market’s bull run, and anyone investing here with a little bit of research is surely going to receive ample appreciation.