IGIA Aerocity to build 2.8 million sqft mall; $2.5 billion expansion

01 May 2024

Indira Gandhi International Airport's (IGIA) Aerocity is about to undergo a massive transformation, becoming India's largest aerotropolis, a city built around an airport. A $2.5 billion expansion spearheaded by Bharti Realty, the leaseholder of Aerocity, is driving this growth. The project promises a mega-mall ? the largest in India at a whopping 2.8 million square feet, dwarfing even the current Vasant Kunj malls. Additionally, a global business district expansion will create a total of 18 million square feet of leasable space for offices, retail, food courts, and public areas.

The expansion will occur in phases. Phase 2, targeting completion by March 2027, will introduce Worldmark 4, 5, 6 & 7, offering 3.5 million square feet of leasable space and even underground parking for over 8,000 cars. Phase 3, set for completion by 2029, focuses on developing 4 million square feet of commercial space along the Northern Access Road. These innovative spaces will be ?boundary less? office areas with ground-floor retail, all connected by cycle tracks and walkways for a pedestrian-friendly environment.

By full development, Aerocity is expected to be a bustling hub with 2 million workers and an annual footfall exceeding 30 million. This growth will also support IGIA, potentially managing over 100 million passengers annually. To accommodate this influx, Delhi International Airport Limited (DIAL) is developing India's first interstate multi-modal transport hub near the Aerocity metro station. This hub will seamlessly integrate various transportation options, including an interstate bus terminus, the upcoming Delhi Metro Phase 4 line, and the Rapid Rail Transit System station. Aerocity's transformation is poised to redefine the concept of an airport city in India. With its mega-mall, global business expansion, and focus on connectivity, Aerocity is on track to become a major centre for work, travel, and commerce.

?Worldmark Aerocity will be the world?s most well-connected global business district with different modes of transport available. Individuals traveling from Meerut, Alwar, or Panipat will arrive here in less than 45 minutes using the upcoming RRTS. The mega mall will have parking space for thousands of cars,? announced SK Sayal, MD & CEO, Bharti Realty. Bharti is focusing on the mega mall that Sayal said would become India?s biggest when it opens by 2027.

?We have sent teams across the world and are developing the mall as the country?s largest indoor entertainment destination offering the most sought after global entertainment genres,? he added.

At present, discussions between DIAL and the Union aviation ministry revolve around determining the stops for the planned air train, which will link T1 on one end and either T3/2 (or T4 instead of T2 by the decade's end) on the other. While the airport operator leans towards installing two air train stations within Aerocity, the ministry leans towards fewer stops to streamline swift intra-terminal transfers.

(Source: Economic Times)

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