BIAL Exploring Real Estate Development around Airport

May 22, 2008	(1 votes, average: 3 out of 5)  Loading ...
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The Bengaluru International Airport Limited (BIAL) is exploring real estate development around the airport. According to Anurag Mathur, joint managing director of Cushman & Wakefield, BIAL is planning to put up premium office space, technology centre and business centre over 150 acres.

“The company is also exploring major urban entertainment centre on an area of about 50 acres. The opening of the airport will set benchmark for airport real estate sector in the form of retail, office space, convention centre and hospitality,” he added.

Globally, airports derive a large portion of their income from non-aeronautical revenue sources; Heathrow, San Francisco, Vancouver and Brisbane, bring in as much as 50 per cent of their revenues from retail and other non-aeronautical resources.

Anurag Mathur said, “With the Greenfield projects in Hyderabad and Bangalore taking their maiden steps, India will soon replicate this potential revenue earning model.” BIAL has invested Rs 3 crore to construct 40,500 sft of retail, food and beverage (F&B) fixtures. When the initial phase of the airport becomes operational, about 31,500 sft of retail space and 9,000 sft of F&B space would be available.

News Published Under:   Real Estate India, Real Estate Developers |

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