Nine years after getting permission, Aerocity, the 45-acre complex set up as a transit hub near the Delhi airport, is set to be known as the next commercial destination in the capital. Its true potential will be visible in a year, say experts.
While the complex was approved for construction in 2007, the first of the 12 hotels could come up only in 2012 as the final clearance from the Bureau of Civil Aviation Security (BCAS) and Delhi Police came late.
“The world over, wherever there is airport development, retail and hospitality offices come up. Aerocity, too, is seeing such mixed use,” said Anuj Puri, chairman and country head, JLL India. Already, Aerocity is starting to become a major commercial complex and within the next six months to a year, it will grow further, Puri added. “The development has been slow due to the time taken to get all the approvals; something so international should have come up earlier than later.”
Stakeholders agree. Recently, Future Group’s Kishore Biyani launched his 34th large format retail store, Central, in Aerocity. “The full realisation of the Aerocity project in terms of food courts, connectivity etc is expected by December,” said Vishnu Prasad, CEO, Central.
According to Delhi International Airport Ltd (DIAL), Aerocity has nine operational hotels, three more under various stages of development, plus the commercial blocks anchored by Worldmark 1, 2 and 3.
“DIAL has developed a master plan for the entire airport area including commercial developments at various land parcels. The activation of commercial development opportunities within this master plan is pursued after taking into account existing market dynamics and the needs of airport ecosystem,” said a DIAL spokesperson.
10/10/16 Karan Choudhury/Business Standard
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While the complex was approved for construction in 2007, the first of the 12 hotels could come up only in 2012 as the final clearance from the Bureau of Civil Aviation Security (BCAS) and Delhi Police came late.
“The world over, wherever there is airport development, retail and hospitality offices come up. Aerocity, too, is seeing such mixed use,” said Anuj Puri, chairman and country head, JLL India. Already, Aerocity is starting to become a major commercial complex and within the next six months to a year, it will grow further, Puri added. “The development has been slow due to the time taken to get all the approvals; something so international should have come up earlier than later.”
Stakeholders agree. Recently, Future Group’s Kishore Biyani launched his 34th large format retail store, Central, in Aerocity. “The full realisation of the Aerocity project in terms of food courts, connectivity etc is expected by December,” said Vishnu Prasad, CEO, Central.
According to Delhi International Airport Ltd (DIAL), Aerocity has nine operational hotels, three more under various stages of development, plus the commercial blocks anchored by Worldmark 1, 2 and 3.
“DIAL has developed a master plan for the entire airport area including commercial developments at various land parcels. The activation of commercial development opportunities within this master plan is pursued after taking into account existing market dynamics and the needs of airport ecosystem,” said a DIAL spokesperson.
10/10/16 Karan Choudhury/Business Standard
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