India's largest mall, spanning more than 2.8 million square feet (28 lakhs), is expected to open by 2027 at the Aerocity near Indira Gandhi International Airport.
This ambitious undertaking is a pivotal part of the Worldmark Aerocity, a $2.5 billion expansion initiative. The project's vision is to establish India's first metropolis, a unique urban region that revolves around an airport. This innovative concept is projected to grow eightfold in the next five years, heralding a new era in urban development.
With a forward-looking vision to construct over 10 million square feet by 2029 in two stages, Aerocity is all set to redefine the commercial landscape. Currently, it offers 1.5 million square feet of leasable space, a mere glimpse of its future potential.
The TOI article also stated that a 6.5 million-square-foot extension of the global business district will create a total leasable area of 18 million square feet, which will include offices, shops, food courts, a sizable mall, and public spaces.
Delhi International Airport Ltd (DIAL), sponsored by GMR, awarded the development of Aerocity to Bharti Realty. Bharti Realty holds Aerocity's lease, which aligns with DIAL's lease for airport construction and operations. State ownership is unaffected.
Bharti Realty's MD and CEO, SK Sayal, was quoted in the paper as stating that phases two and three will cost $2.5 billion and be financed by a mix of loan and equity. Phase 2 will see the opening of Worldmark 4, 5, 6, and 7, which will have 3.5 million square feet of lettable space and the largest mall in India, spanning 2.8 million square feet, which is three times larger than the current malls in Vasant Kunj. Phase 2 is expected to start the following year and be finished by March 2027.
According to the TOI, subterranean parking would be available for more than 8,000 vehicles.
At the moment, Aerocity has 11 hotels—including JW Marriott, Accor Group, and Roseate—with 5,000 hotel rooms. After Phase 2 is finished, there will be 7,000 rooms spread over 16 hotels, including well-known properties like St Regis and JW Marriott Marquis. The area will be located between the Aerocity metro station and the current hotel centre.
