Around 2027, Aerocity is set to create India’s biggest mall of around 28 lakh sq feet. This is set to be a part of a US $ 2.5 billion expansion to create the country’s first aerotropolis- a metropolis in the area of an airport- developing eight times in the coming five year. Aerocity, which currently has 15 lakh square feet of feasible area. will get over 1 crore sq feet more by 2029. This is set to give a big boost to the retail sector in the area.
Afterwards, the global business district will be expanded by another 65 lakh sq feet, creating 1.8 crore sq feet of feasible area for offices, retail, food courts and a big mall aside from public spaces.
According to SK Sayal, MD & CEO, Bharti Realty, “Phase 2 and 3 will see an investment of US $ 2.5 billion, an amount being raised via a mix of debt and equity”. Also, plans are afoot for an underground parking of over 8,000 cars.
Presently, Aerocity has around 5,000 hotel rooms across 11 famous hotels, comprising of JW Marriott, Accor Group, and Roseate. With the conclusion of Phase 2, this number will rise to 7,000 rooms stretched across 16 hotels, with prestigious names such as St Regis and JW Marriott Marquis joining the lineup between the Aerocity metro station and the present hotel district. “Having over 30 lakh sq feet of leased retail space, Worldmark 2.0 is set to become one of India’s biggest retail destinations,” shared Sayal.
Phase 1, which attracted big corporate players such as Airbus, EY, IMF, KPMG, Emirates, and Pernod Ricard, saw Brookfield, a well-known global alternative investment management company, agreeing to obtain a 51% stake in Bharti’s four commercial properties, comprising of Aerocity Worldmark Phase 1, at a value of Rs 5,000 crore, two years before. Phase 3 will see Aerocity growing with 40 lakh sq. feet of leasable commercial space along the Northern Access Road linking Mahipalpur and Terminals 2 and 3.
“We plan to begin work on this phase in 2025 and finish it by 2029,” shared Sayal. “These will be office spaces with retail areas on the ground floor, creating a flawless district. The complete area will be unified with cycle tracks and pathways.” After completion, Sayal sees Aerocity taking in around 20 lakh employees and getting a yearly footfall of at least three crore.
Apart from the airport’s traffic, together with passengers and cargo, the area is set to become a center for foot traffic. To control this influx, DIAL is creating India’s first interstate multi-modal transport hub near the Aerocity metro station.
