Delhi International Airport Limited (DIAL), a subsidiary of GMR Infrastructure, has selected Bharti Realty for a contract to build a retail space near the airport. The deal is worth over Rs 315 crore.
The contract allows Bharti Realty to design, develop, construct, finance, own, operate and maintain the land parcel of area 1.96 lakh sq. mts. The real estate arm of Bharti Group also needs to pay a license fee which is 20 per cent of revenue.
Reportedly, 5.67 lakh sq. mts. of property already developed as hospitality district at Delhi Aerocity where Bharti Realty has one of its commercial properties. The real estate arm has been activated since 2015 commenced with a residential project in Surajkund of Haryana in partnership with Eros Group.
Source: ET Realty