Adani unveils Rs 20,000 crore airport city plan across Mumbai, Navi Mumbai and four other cities

Adani Airport City Limited AACL a wholly owned subsidiary of Adani Airport Holdings Limited AAHL on Thursday unveiled plans to develop integrated airport cities across its airport network with an investment of more than Rs 20000 crore in the first phaseThe proposed development will span more than 655 acres across six airports in five states including Mumbai Navi Mumbai Ahmedabad Lucknow Jaipur and Guwahati The company said nearly 22 million sq ft of mixeduse development is planned during the initial phaseMumbai and Navi Mumbai to receive bulk of Rs 20000crore investmentAccording to the company nearly 70 per cent of the planned investment will be concentrated in Mumbai and Navi Mumbai where around 440 acres have been earmarked for development The projects are expected to complement the existing Mumbai airport and the upcoming Navi Mumbai International AirportThe airport city developments will comprise hospitality retail entertainment convention and commercial infrastructure integrated with airport and urban transport networks The company said the districts are being designed as walkable urban hubs that bring together hotels offices shopping destinations dining and convention facilitiesSpeaking at the launch Jeet Adani Director of Adani Airport Holdings Limited said airports have the potential to become centres of commerce tourism and urban growth beyond their traditional role as transportation hubsldquoAround the world the most successful airport districts have become centres of commerce tourism and urban growth As Indias aviation market expands airports have an opportunity to create value far beyond aviationrdquo he saidThe company said the initiative draws inspiration from global airport districts such as Singapores Changi Airport Dubai International Airport Amsterdam Airport Schiphol and Seouls Incheon International AirportAirport cities to include hotels retail offices and convention centresAs part of the programme AAHL has signed hotel management agreements with IHG Hotels and Resorts for five luxury and premium hotels including the debut of the Kimpton brand in India The company said it is also engaging with domestic and international partners in the hospitality retail food and beverage and entertainment sectorsAccording to the company all airport city projects have received Leadership in Energy and Environmental Design LEED Gold precertification from the US Green Building Council reflecting a focus on sustainable design resource efficiency and walkabilityThe company said the developments are intended to create integrated economic ecosystems around airports generating employment attracting investment and supporting tourism and business activity in the surrounding regionsAAHL currently operates eight airports across India including Mumbai Ahmedabad Lucknow Mangaluru Jaipur Guwahati and Thiruvananthapuram besides developing the Navi Mumbai International Airport