GMR Group plans to develop around 1,500 acres of land near its airports in Delhi, Hyderabad, and Goa, along with building a greenfield airport in Bhogapuram, Andhra Pradesh. Their projects include industrial, hospitality, and commercial developments, with a focus on expanding Hyderabad as a hub for future commercial, IT, and healthcare projects. The Aerocity initiatives emphasize integrated commercial spaces, job creation, and enhancing social infrastructure. Partnerships with developers like Prestige Group and Bharti Realty support these ambitions, marking a paradigm shift in airport-adjacent real estate and stimulating local economies.
According to a senior official, GMR Group, which runs the airports in Delhi, Hyderabad, and Goa, has ambitious plans to develop about 1,500 acres of land around these airports. In addition to building an international greenfield airport in Andhra Pradesh's Bhogapuram, Visakhapatnam, the company has designed a resort-style development in Goa that includes a shopping center, hotel, golf course, and villas. Their top priority however remains industrial development in Hyderabad.
In addition to hotels, hospitals, and office space in Delhi, GMR will also build co-living, elder housing, and business spaces in Hyderabad. Delhi Aerocity is the flagship project of GMR's registered trademark Aerocity, which has become a brand for integrated commercial projects at airports. According to Aman Kapoor, CEO of GMR Aerocity, "the current initiatives, such as a highly curated public realm, pedestrian-friendly spaces, public art installations, and GMR's flagship commercial development, Aerocity ONE," demonstrate Aerocity's metamorphosis into a worldwide corporate hub.
Additional developers making contributions include Bharti Realty and Prestige Group, whose developments include hotels, retail spaces, and commercial offices. The second phase of Aerocity, which has a total development potential of 17 million square feet, is presently being developed by Bharti Realty. Additionally, it had created the initial phase, which Brookfield eventually purchased.
The initial phase of Aerocity at Hyderabad Airport concentrated on social infrastructure and job generation. It had already established an industrial and aviation Special Economic Zone, creating more than 50,000 direct and indirect jobs and propelling Hyderabad's economy, according to Kapoor.
In order to improve the social infrastructure near the airport and position Hyderabad as a site for future commercial, IT park, hospitality, and healthcare projects, GMR has also concentrated on schools, hotels, and private university campuses.
Nine aerocity projects spanning 14,000 acres are planned in India, according to data from 360 Realtors. Cities such as Ayodhya and Noida are aiming to build real estate around their airports. Of Aerocity's initiatives, about 22% are now underway, 18% are in development, and 60% have been announced.
Goa's GMR Aerocity, which offers more than 20 hotel construction prospects and more than 7,000 hotel rooms, is being planned as a leisure and hospitality destination.
In conclusion, the ambitious Aerocity projects by GMR Group represent a paradigm shift in real estate near airports, combining social infrastructure, industrial growth, and hospitality in strategic places like Goa, Hyderabad, and Delhi. The developments of GMR are in line with India's overall urbanization and economic expansion, with an emphasis on developing global corporate hubs, enhancing social amenities, and encouraging job creation. Partnerships with developers such as Prestige Group and Bharti Realty augment the scope and influence of these endeavors. With the completion of future Aerocity projects, GMR is poised to reshape the possibilities of real estate connected to airports, stimulating local economies and drawing in international investors.
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