India’s biggest mall to open at Delhi airport’s Aerocity by 2027
According to the Times of India, India’s largest mall, with more than 2.8 million square feet, is set to open at the Aerocity at Indira Gandhi International Airport by 2027.
This development is a component of Worldmark Aerocity, an expansion project valued at $2.5 billion. The project’s goal is to build India’s first aerotropolis, or metropolitan area centered around an airport. According to the report, this area will grow eight times faster than expected in the next five years.
Aerocity, currently has 1.5 million square feet of leasable space available, and by 2029, it intends to build over 10 million square feet in two phases.
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The TOI report went on to say that the global business district will be expanded by 6.5 million square feet, making a total leasable area of 18 million square feet. This will house a large-scale mall, retail stores, food courts, offices, and public places.
Delhi International Airport Ltd (DIAL), sponsored by GMR, awarded the development of Aerocity to Bharti Realty.
Aerocity’s lease is held by Bharti Realty, and state ownership is unaffected. This lease aligns with DIAL’s lease for airport construction and operations.
Plans for stages two and three of the Aerocity expansion by Bharti Realty
Bharti Realty’s MD and CEO, SK Sayal, was quoted in the report as stating that phases two and three will cost $2.5 billion and be financed by a mix of loan and equity.
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Phase 2 will see the opening of Worldmark 4, 5, 6, and 7, which will have 3.5 million square feet of lettable space and the largest mall in India, spanning 2.8 million square feet, which is three times larger than the current malls in Vasant Kunj. Phase 2 is expected to start the following year and be finished by March 2027.
According to the TOI, subterranean parking would be available for more than 8,000 vehicles.
At the moment,
Aerocity has 11 hotels—including JW Marriott, Accor Group, and Roseate—with 5,000 hotel rooms. After Phase 2 is finished, there will be 7,000 rooms spread over 16 hotels, including well-known properties like St Regis and JW Marriott Marquis. The district will be located between the Aerocity metro station and the current hotel center.
Phase 1 of Bharti’s commercial properties, which included Aerocity Worldmark Phase 1, attracted high-profile corporate entities such as Airbus, EY, IMF, KPMG, Emirates, and Pernod Ricard. Two years ago, Brookfield, a globally recognized alternative investment management company, purchased a 51 per cent stake in Bharti for an enterprise value of Rs 5,000 crore.
