By 2027, Delhi's Indira Gandhi International Airport's Aerocity is set to unveil India's largest mall, spanning over 2.8 million square feet. This mall is part of a $2.5 billion expansion project called Worldmark Aerocity. The endeavour aims not only to construct a massive shopping destination but also to establish India's inaugural aerotropolis—a visionary concept of integrating a metropolitan area around an airport. According to reports from the Times of India, this ambitious project is projected to witness an eightfold growth within the next five years.
Currently offering 1.5 million square feet of leasable space, Aerocity plans to add over 10 million square feet by 2029 in two phases. The expansion includes the development of a global business district, with a total leasable area of 18 million square feet, accommodating offices, retail outlets, food courts, and public areas.
SK Sayal, the MD and CEO of Bharti Realty, has outlined the ambitious roadmap for phases 2 and 3, necessitating a $2.5 billion investment, which will be funded through a mix of debt and equity. Phase 2 will introduce Worldmark 4, 5, 6, and 7, offering 3.5 million square feet of leasable space alongside India's largest mall, covering 2.8 million square feet—three times the size of existing Vasant Kunj malls. Commencement of Phase 2 is scheduled for the coming year, with completion targeted for March 2027.
Parking facilities for over 8,000 cars will be provided underground to cater to the massive influx of visitors. Presently, Aerocity is home to 5,000 hotel rooms across 11 hotels, including prominent names like JW Marriott, Accor Group, and Roseate. Upon the completion of Phase 2, this count will swell to 7,000 across 16 hotels, with esteemed brands such as St Regis and JW Marriott Marquis joining the fray.
The completion of the Aerocity project is poised to have far-reaching economic implications. It is estimated that the complex will host around 2 million professionals and attract an annual footfall of at least 30 million. This surge in activity is expected to elevate IGI Airport's stature, potentially accommodating over 100 million passengers annually. Plans are already underway to replace the existing terminals with larger ones to handle the increased capacity, thus propelling the airport's yearly throughput to over 140 million travelers.
Furthermore, the area surrounding Aerocity is set to become a bustling hub, necessitating infrastructural developments to accommodate the burgeoning population and visitors. Discussions are ongoing between DIAL and the Union aviation ministry regarding the establishment of India's inaugural interstate multi-modal transport hub near the Aerocity metro station, integrating various modes of transportation for seamless connectivity.
As construction progresses and completion draws near, all eyes will be on Aerocity to see how it transforms the retail experience for urban development in the country.
