Bangalore: GMR Infrastructure has developed a monetisation plan to develop the remaining 184 acres of Delhi's Indira Gandhi International Airport in four phases over 10 years. The airport developer's move to unlock value from real estate assets comes nearly five years after its first round of monetisation, which involved awarding development rights over 45 acres to create a hospitality zone.
At present, four hotels have started operations while others are in the process of being completed. The long term plan for the remaining land will include building office spaces, convention districts and cargo facilities, according to the company's annual report for FY14. “With Air India joining Star Alliance, IGIA is set to become an international hub for passenger traffic and cargo movement. To maximise this potential, DIAL has developed a commercial property development monetisation plan, including developing office space, F&B districts, convention districts and 5 star deluxe/budget hotel/service apartments in 184 acres in four phases,” the company said in its annual report. The Delhi International Airport (DIAL) is the GMR subsidiary that runs the airport.
26/08/14 Ajay Sukumaran/Financial Express
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At present, four hotels have started operations while others are in the process of being completed. The long term plan for the remaining land will include building office spaces, convention districts and cargo facilities, according to the company's annual report for FY14. “With Air India joining Star Alliance, IGIA is set to become an international hub for passenger traffic and cargo movement. To maximise this potential, DIAL has developed a commercial property development monetisation plan, including developing office space, F&B districts, convention districts and 5 star deluxe/budget hotel/service apartments in 184 acres in four phases,” the company said in its annual report. The Delhi International Airport (DIAL) is the GMR subsidiary that runs the airport.
26/08/14 Ajay Sukumaran/Financial Express
