As per the latest reports, by 2027, Indira Gandhi International Airport's Aerocity will unveil India's largest mall, spanning across 2.8 million square feet. This is part of the $2.5 billion expansion project known as Worldmark Aerocity, which aims to establish India's first aerotropolis—a metropolitan area centred around an airport. If reports are to go by, this project is expected to witness an eightfold growth within the next five years.
At present, Aerocity offers 1.5 million square feet of leasable space, with plans to increase this to over 10 million square feet by 2029 in two phases. According to the reports, the global business district within Aerocity will undergo a 6.5 million square feet expansion, resulting in a total leasable area of 18 million square feet. This expansion will accommodate offices, retail outlets, food courts, a large-scale mall, and public areas.
The development of Aerocity was entrusted to Bharti Realty by GMR-backed Delhi International Airport Ltd (DIAL). Bharti Realty holds the lease for Aerocity, which aligns with DIAL's lease for airport development and operations, maintaining state ownership unchanged.
SK Sayal, Bharti Realty's Managing Director and CEO, has outlined the plans for the expansion of Aerocity in phases 2 and 3. These phases will require a $2.5 billion investment, to be financed through a mix of debt and equity. Phase 2 will see the introduction of Worldmark 4, 5, 6, and 7, providing 3.5 million square feet of leasable space and featuring India's largest mall spanning 2.8 million square feet—three times the size of the existing malls in Vasant Kunj. Phase 2 is set to commence next year, with completion scheduled for March 2027.
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