Adani Group’s Mega Realty Plans Around Airports

Adani Group has worked out big plans for real estate development around 8 airports which it owns across the country.
As part of this City Side Development (CSD) plan, Adani Group company- Adani Airports Holdings (AAHL) will monetize 640 acres of real estate space around its airports to boost non-aero revenue. This includes 420 acres at Mumbai International Airport (MIAL) and upcoming Navi Mumbai International Airport (NIAL). In fact, NMIA that will be operational by FY 25 end, will play a key role in Adani Group’s real estate development plan around airports as Aero City is planned here on the lines of Delhi AeroCity. The other airports around which real estate development will take place, include Ahmedabad, Lucknow, Jaipur, Guwahati, Tiruvanthapuram and Mangalore.
The mega real estate development plan involves construction of large commercial spaces- office and retail space, hotels and hospitals. As part of hospitality development, 18 three-to-five-star hotels with 4500 rooms will come up around Adani Group owned airports. The plan also includes construction of 6 hospitals with 2200 beds, spread over 2.4 msf. The City Side Development Plan will also see creation of 5.4 msf of office space. There will be 2.7 msf of entertainment space.
On the retail and recreation front, 4.2 msf of space will be developed. This includes 2.6 msf of retail space, 1.1 msf of F&B space and 0.5 msf of multiplex space comprising 66 screens. In the first phase, 20 msf of real estate space will be developed around airports.