Bangalore: Bangalore International Airport Limited (BIAL) is finally getting its act together to develop its vast 4,300 acre real estate to raise revenues for future expansions.
A master plan for the integrated real estate development for an airport city will be ready within the next three to six months, according to G V Sanjay Reddy, Managing Director, BIAL.
On Saturday, as BIAL threw open its expanded Terminal-1A, the emphasis was clearly on the need to further enhance the airport’s capacity to 55 million passengers annually. “We will seek the government’s approval for various projects planned as part of the real-estate development project,” Reddy told reporters after the official launch of T1A.
But the project would require huge funds, and BIAL had hoped to raise the money through a hike in the User Development Fees (UDF) levied on the passengers. However, the Airports Economic Regulatory Authority of India (AERA) is yet to announce the new rates. BIAL, he said, was expecting a decision in two to three months. AERA will consider the airport’s traffic and investment requirements before finalising the new UDF.
14/12/13 Deccan Herald
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A master plan for the integrated real estate development for an airport city will be ready within the next three to six months, according to G V Sanjay Reddy, Managing Director, BIAL.
On Saturday, as BIAL threw open its expanded Terminal-1A, the emphasis was clearly on the need to further enhance the airport’s capacity to 55 million passengers annually. “We will seek the government’s approval for various projects planned as part of the real-estate development project,” Reddy told reporters after the official launch of T1A.
But the project would require huge funds, and BIAL had hoped to raise the money through a hike in the User Development Fees (UDF) levied on the passengers. However, the Airports Economic Regulatory Authority of India (AERA) is yet to announce the new rates. BIAL, he said, was expecting a decision in two to three months. AERA will consider the airport’s traffic and investment requirements before finalising the new UDF.
14/12/13 Deccan Herald
