Brace Yourself for India’s Largest Mall at Delhi Airport!
Delhi’s Aerocity, an ambitious project near the Indira Gandhi International Airport, is gearing up to unveil India’s largest mall spanning a massive 2.8 million square feet. This colossal shopping and entertainment destination is part of the $2.5 billion Worldmark Aerocity expansion plan, envisioned to establish India’s first airport-centric metropolis.
By 2027, this 28 lakh sq ft mall with parking for a staggering 8000 cars will open its doors, heralding a new era in urban development. The project’s visionary concept is to create a unique urban region that revolves around an airport, projected to grow eightfold within the next five years.
Aerocity’s Ambitious Expansion Plan
Aerocity’s current offering of 1.5 million square feet of leasable space is merely a glimpse of its future potential. By 2029, the global business district within Aerocity will undergo a 6.5 million square feet expansion, resulting in a total leasable area of 18 million square feet. This expansion will accommodate offices, retail outlets, food courts, the mammoth 2.8 million sq ft mall, and public spaces.
Phases of the Worldmark Aerocity Expansion
- Phase 1: Attracted leading corporate entities like Airbus, EY, IMF, KPMG, Emirates, and Pernod Ricard.
- Phase 2 (Commencing 2024 – Completion March 2027):
- Introduction of Worldmark 4, 5, 6, and 7
- 3.5 million square feet of leasable space
- India’s largest mall spanning 2.8 million square feet (three times larger than Vasant Kunj malls)
- Underground parking for more than 8,000 cars
- Phase 3 (Details TBA): Part of the overall $2.5 billion investment plan.
Expanding Hospitality and Transportation Infrastructure
Aerocity currently houses 11 hotels with 5,000 rooms, including renowned brands like JW Marriott, Accor Group, and Roseate. Post Phase 2, the hotel count will rise to 16, with 7,000 rooms, including prestigious additions like St. Regis and JW Marriott Marquis.
To accommodate the projected surge in activity, Delhi International Airport Ltd (DIAL) is developing India’s first interstate multi-modal transport hub near the Aerocity metro station. This hub will integrate an interstate bus terminus, an upcoming Delhi Metro Phase 4 line, and the Rapid Rail Transit System station, including the station for the proposed air train connecting terminals.
Air Train Connectivity
DIAL and the Union aviation ministry are deliberating on the optimal number of stops for the proposed air train connecting T1 on one end and T3/2 (or potentially T4 instead of T2 by the end of the decade). While the airport operator favors incorporating two air train stations in Aerocity, the ministry is inclined towards fewer stops to facilitate rapid intra-terminal transfers.
Redefining India’s Commercial Landscape
The Worldmark Aerocity expansion is poised to redefine India’s commercial landscape. With a forward-looking vision to construct over 10 million square feet by 2029, Aerocity is set to become a bustling metropolis, projected to host 2 million professionals and attract an annual footfall of at least 30 million.
This surge in activity could potentially propel IGI Airport to serve over 100 million passengers annually, prompting the replacement of T2 with the significantly larger T4.
Project Execution and Ownership
Delhi International Airport Ltd (DIAL), sponsored by GMR, awarded the development of Aerocity to Bharti Realty. Bharti Realty holds Aerocity’s lease, which aligns with DIAL’s lease for airport construction and operations, maintaining state ownership unchanged.
According to SK Sayal, Bharti Realty’s MD and CEO, phases two and three will require a $2.5 billion investment, to be financed through a mix of debt and equity.
Bharti Realty’s Strategic Partnership
In a strategic move, Brookfield, a prominent alternative investment management company, acquired a 51% stake in Bharti’s four commercial properties, including Aerocity Worldmark Phase 1, for an enterprise value of Rs 5,000 crore, two years ago.
Frequently Asked Questions (FAQs)
Q. What is the size of India’s largest mall coming up at Delhi’s Aerocity?
A. India’s largest mall coming up at Delhi’s Aerocity will span a massive 2.8 million square feet (28 lakh sq ft).
Q. How many cars can be parked at the new mall?
A. The new mall at Aerocity will have underground parking facilities for more than 8,000 cars.
Q. What is the total investment planned for the Worldmark Aerocity expansion?
A. The Worldmark Aerocity expansion is a $2.5 billion project, with phases two and three requiring the same investment, to be financed through a mix of debt and equity.
Q. Which company is developing the Aerocity project?
A. Delhi International Airport Ltd (DIAL), sponsored by GMR, awarded the development of Aerocity to Bharti Realty.
Q. What is the projected growth of Aerocity in the next five years?
A. The project’s vision is to establish India’s first airport-centric metropolis, and Aerocity is projected to grow eightfold within the next five years.
Q. What is the total leasable area planned for Aerocity by 2029?
A. By 2029, Aerocity plans to offer over 10 million square feet of leasable space, including a 6.5 million square feet expansion of the global business district, resulting in a total leasable area of 18 million square feet.
Q. What transportation infrastructure is planned near Aerocity?
A. DIAL is developing India’s first interstate multi-modal transport hub near the Aerocity metro station, integrating an interstate bus terminus, Delhi Metro’s upcoming Phase 4 line, and the Rapid Rail Transit System station, including the station for the proposed air train connecting terminals.
Conclusion
The Worldmark Aerocity expansion is a testament to India’s ambition and vision for urban development. With the unveiling of India’s largest mall spanning 2.8 million square feet and a parking capacity for 8000 cars, this project is set to redefine the shopping and entertainment experience. The establishment of India’s first airport-centric metropolis will not only boost economic growth but also create a vibrant and sustainable urban ecosystem. As the project progresses, it will undoubtedly captivate the world with its audacious scale and innovative approach to city planning.
Disclaimer:
The information provided in this article is based on publicly available sources and should be verified independently by readers. Wini Media does not take responsibility for any errors or omissions.
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