The cost of building the country’s biggest mall and the expansion of the aerotropolis is expected to be $2.5 billion.
India’s Biggest Mall: Good news for Delhiites as Indira Gandhi International Airport’s (IGIA) Aerocity is going to have India’s largest mall, as reported by The Times of India’s Saurabh Sinha. Well this is a part of government’s plan to develop the country’s first – aerotropolis -city near an airport. Notably, the Aerocity currently has 15 lakh square feet of leasable area which will increase to over 1 lakh crore additional square feet by 2029. The global business district will get additional 65 lakh square feet of leasable space that can be used for public areas, offices, retail stores, food courts, etc.
Good news for Delhiites: Indira Gandhi International Airport’s (IGIA) Aerocity is set to have India’s largest mall, as reported by The Times of India’s Saurabh Sinha. This development is part of the government’s plan to create the country’s first aerotropolis— a city near an airport. Notably, Aerocity currently has 1.5 million square feet of leasable area, which will increase by over 100 million additional square feet by 2029. The global business district will gain an additional 6.5 million square feet of leasable space that can be used for public areas, offices, retail stores, food courts, and more.
India’s Biggest Mall: Cost
The cost of building the country’s biggest mall and the expansion of the aerotropolis is expected to be $2.5 billion.
India’s Biggest Mall: Details
The Aerocity at Indira Gandhi International Airport is set for a major upgrade, promising to expand approximately eightfold over the coming five years. Projected to house India’s premier shopping center by 2027, it’ll cover an impressive 28 lakh square feet.
Bharti Realty recently bagged the development rights for Aerocity, cleverly positioned next to Delhi airport. The airport is managed by DIAL, a company that enjoys backing from GMR. While both Bharti Realty and DIAL hold leasing rights for their designated territories, the airport itself remains a state-owned asset.
“Phase 2 and 3 will have an investment of $2.5 billion, an amount being raised through a mix of debt and equity. Phase 2 will see Aerocity getting Worldmark 4, 5, 6 & 7 with 35 lakh sq feet leasable area and India’s largest mall sprawled over 28 lakh sq feet — three times as large as the existing Vasant Kunj malls. We will start delivery of Phase 2 next year and will complete the process by March 2027,” SK Sayal, MD & CEO, Bharti Realty, told TOI.
There are also plans for underground parking for over 8,000 cars.
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