CORPORATE

Adani sets aside Rs 20,000 cr for airport cities as hubs of tourism & commerce in 5 States

Adani Airport City (AACL), a wholly-owned subsidiary of Adani Airport Holdings (AAHL), has unveiled plans to develop integrated airport cities across six airports in five States, with an investment of more than Rs 20,000 crore in the first phase.
The proposed developments will span over 655 acres across Mumbai, Navi Mumbai, Ahmedabad, Lucknow, Jaipur and Guwahati airports, with nearly 22 million sq ft of mixed-use infrastructure planned in the initial phase.
The company has said that nearly 70 per cent of the investment will be concentrated in Mumbai and Navi Mumbai, which together account for about 440 acres of the land bank.
According to AACL, the airport city projects will combine hospitality, retail, entertainment, convention and commercial infrastructure within integrated urban districts, connected to airport, metro and city transport networks.
The company has said that the initiative is modelled on globally established airport districts, such as Singapore’s Changi, Dubai International, Amsterdam’s Schiphol and Seoul’s Incheon airports, and aims to transform airports into centres of commerce, tourism, investment and urban growth.
“Around the world, the most successful airport districts have become centres of commerce, tourism and urban growth. As India’s aviation market expands, airports have an opportunity to create value far beyond aviation. We are creating a network of integrated urban destinations, where airports become catalysts for investment, employment, better passenger experiences and the long-term growth of the cities they serve,” Jeet Adani, the director of AAHL, has said.

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