Business
Delhi to have “one of best global business districts in the world” with Aerocity expansion; details here – Times of India
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Bharti Real Estate has revealed plans to invest over Rs 6,595 crore ($794 million) for the establishment of a global business hub adjacent to the Delhi airport. SK Sayal, the CEO of the company told ET, “We have undertaken one of the largest developments in Delhi and once completed, it will compete with the best of the global business districts of the world.”
This strategic move is part of the second phase of Aerocity‘s expansion which will create 6.5 million square feet of office and retail space. According to Sayal, the hub will be a go to place for global MNCs that are looking for office space and international brands looking to enter India.
With a collective area of around 3.5 million square feet available for lease, these new assets will significantly augment the commercial precinct. In comparison to the existing Worldmark assets, this new precinct is almost three times larger, encompassing approximately 60 acres of integrated development.
In the past the company has successfully completed the initial phase of Aerocity development with Worldmark 1, 2, and 3. This property, spanning approximately 1.5 million square feet, is now under the ownership of Rostrum Realty—a joint venture involving Brookfield Asset Management and Bharti Enterprises.
In May, Canada’s Brookfield secured a controlling stake of 51% in Rostrum Realty Pvt Ltd. The remaining 49% is held by Bharti Enterprises, and the entire transaction was valued at Rs 5,000 crore.
According to Sayal, with Delhi Development Authority (DDA) responsible for development planning in Delhi, there is less private infrastructure development in Delhi. This, he believes, has prompted developers to explore alternatives like Gurgaon and Noida. However, the privatization of Delhi airport opened a significant area for development, he says. Sayal’s vision includes transforming this space into a global business district, positioning India as a premier office and retail destination.
As part of the project, each office tower will incorporate a retail section, while there will also be an independent mall. Furthermore, the plan allows for over 10,000 parking spaces. The newly introduced assets will include Worldmark -4, Worldmark -5, Worldmark -6, Worldmark, and Worldmark-7, and the company plans to start providing possession by 2025.
Sayal said that this vision is well-supported by a robust infrastructure framework. “The supporting infrastructure for this global business district in the making is the transport system including three metro lines, four airport terminals constituting one of the busiest airports in the world connected by APM (Automated People Mover), RRTS bringing the national capital much closer to the ancillary towns than ever before, the national highway supported by expressways and freight corridors bringing trade and tourism to the helm,” he said.
As Bharti Realty contemplates the future phases of Aerocity’s expansion, its current focus remains steadfast on the ongoing phase, which aims to be a game-changer in Delhi’s real estate landscape.
This strategic move is part of the second phase of Aerocity‘s expansion which will create 6.5 million square feet of office and retail space. According to Sayal, the hub will be a go to place for global MNCs that are looking for office space and international brands looking to enter India.
With a collective area of around 3.5 million square feet available for lease, these new assets will significantly augment the commercial precinct. In comparison to the existing Worldmark assets, this new precinct is almost three times larger, encompassing approximately 60 acres of integrated development.
In the past the company has successfully completed the initial phase of Aerocity development with Worldmark 1, 2, and 3. This property, spanning approximately 1.5 million square feet, is now under the ownership of Rostrum Realty—a joint venture involving Brookfield Asset Management and Bharti Enterprises.
In May, Canada’s Brookfield secured a controlling stake of 51% in Rostrum Realty Pvt Ltd. The remaining 49% is held by Bharti Enterprises, and the entire transaction was valued at Rs 5,000 crore.
According to Sayal, with Delhi Development Authority (DDA) responsible for development planning in Delhi, there is less private infrastructure development in Delhi. This, he believes, has prompted developers to explore alternatives like Gurgaon and Noida. However, the privatization of Delhi airport opened a significant area for development, he says. Sayal’s vision includes transforming this space into a global business district, positioning India as a premier office and retail destination.
As part of the project, each office tower will incorporate a retail section, while there will also be an independent mall. Furthermore, the plan allows for over 10,000 parking spaces. The newly introduced assets will include Worldmark -4, Worldmark -5, Worldmark -6, Worldmark, and Worldmark-7, and the company plans to start providing possession by 2025.
Sayal said that this vision is well-supported by a robust infrastructure framework. “The supporting infrastructure for this global business district in the making is the transport system including three metro lines, four airport terminals constituting one of the busiest airports in the world connected by APM (Automated People Mover), RRTS bringing the national capital much closer to the ancillary towns than ever before, the national highway supported by expressways and freight corridors bringing trade and tourism to the helm,” he said.
As Bharti Realty contemplates the future phases of Aerocity’s expansion, its current focus remains steadfast on the ongoing phase, which aims to be a game-changer in Delhi’s real estate landscape.
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