Hyderabad: GMR Infrastructure Ltd plans to monetise its excess land holding at Rajiv Gandhi International Airport (RGIA) in Hyderabad through developing business ecosystem to boost its revenues.
While launching the second tower of its business park at the airport on Friday, GMR Airport Land Development CEO Aman Kapoor said his company wants to monetise the entire land bank which it controls as part of the airport project.
GMR Hyderabad International Airport Ltd (GHIAL), the operator of RGIA, holds over 5,000 acres on a 60-year-long lease. Of this, GMR Hyderabad Aerotropolis, a wholly-owned subsidiary of GHIAL, plans to develop around 1,500 acres for building hubs commercial, retail, leisure and entertainment, hospitality, education healthcare aerospace and logistics at the airport.
The seven acre business park would consist of six towers with a floor space of over one million square feet. The entire project cost for the business park is expected to be Rs 350 crore and is likely to be completed in 2.5 years.
Mr. Kapoor said the business park would sever as an incubator which would allow technology companies to set up their facilities until they can build and move out to their own campuses.
The official also said that his company is ready to allot land to the companies which want to build their own bigger campuses at the airport city.
