DIAL awards Aerocity project to Bharti Realty

Hyderabad: Delhi International Airports Limited (DIAL), a GMR-led consortium, announced that it awarded the right to design, develop, finance, construct, operate, manage and maintain a commercial development project at Gateway and Downtown Districts of Aerocity with maximum permissible FSI of 9 lakh Sqm. (4.5 lakh Sqm for Phase I & additional 4.5 lakh Sqm in Phase II available as an option to be exercised within a 5-year time horizon) at Indira Gandhi International Airport to a consortium led by Bharti Realty Ltd, selected through a transparent and competitive bidding process.

GBS Raju, Chairman, Airports, GMR group and MD, DIAL, said: "We are very pleased with the way the first phase of development marked by the hospitality district has been able to provide marquee international brands a location of unparalleled convenience and comfort and while doing so proved to be a great business opportunity for our Hotel development partners who believed in this story for last 10 years".

The new price discovery through the current bid process is a testimony to the rise of Aerocity as the new nerve center of country's capital.

With the development of commercial projects, DIAL shall move one step closer to its vision of creating an Integrated Commercial Business District for the growth of Airport and the associated community.