Master plan to develop airport real estate

Master plan to develop airport real estate

Master plan to develop airport real estate

Bangalore International Airport Limited (BIAL) is finally getting its act together to develop its vast 4,300 acre real estate to raise revenues for future expansions.

A master plan for the integrated real estate development for an airport city will be ready within the next three to six months, according to G V Sanjay Reddy, Managing Director, BIAL. 

On Saturday, as BIAL threw open its expanded Terminal-1A, the emphasis was clearly on the need to further enhance the airport’s capacity to 55 million passengers annually. “We will seek the government’s approval for various projects planned as part of the real-estate development project,” Reddy told reporters after the official launch of T1A. 

But the project would require huge funds, and BIAL had hoped to raise the money through a hike in the User Development Fees (UDF) levied on the passengers. However, the Airports Economic Regulatory Authority of India (AERA) is yet to announce the new rates. BIAL, he said, was expecting a decision in two to three months. AERA will consider the airport’s traffic and investment requirements before finalising the new UDF.

The five-star airport business hotel was part of BIAL’s original plan to raise revenue from its real estate. But the project, now only 60 per cent complete, was stuck in an arbitration process. Reddy said the hotel construction would take off soon. 

More on Terminal 1A

Reddy was more keen to talk about the aesthetic design overhaul of the new terminal. The new roof, he said, was in the shape of a smile. “We want the airport to be known as one of gardens and smiles. The old part of the terminal will also sport the same look in all respects once the ongoing works are ready in January,” he informed. 

BIAL also proposed to install solar power panels on the new roof to generate green energy. The roof is the unifying element for the new and existing facilities, bringing both together as one composition. 

The new terminal interiors, besides hosting an array of restaurants, duty-free zones, a day hotel, and other facilities, will also feature artworks by renowned artists. Displayed are the works of Yusuf Arakkal, Jatin Das, Siddhartha Das and Satish Gupta. 

Food and Beverages and retail concepts have been created to provide a new platform for local cuisines, art forms and over 500 artisans. With an emphasis on local flavour, products from Channapatna toys to Bidiri work and Mysore silks will be available.

Apart from a new VIP terminal of 10,000 sqft, the airport will now be able to handle large aircraft such as the Airbus A380 through a new Code F contact stand. In all, the terminal has 26 boarding gates and 15 aerobridges. A new high-tech AOCC (Airport Operational Control Centre) serves as the nerve-centre of the airport.

GVK may sell minority stake

The GVK Group, that holds a 43 per cent stake in the Kempegowda International Airport (KIA) is in talks with investors to sell a minority stake in its airport verticals elsewhere. Discussions around the valuations are in progress, BIAL Managing Director G V Sanjay Reddy said here on Saturday. The company is reportedly planning to raise revenues to reduce its debt.

The Group, which also operates the Mumbai International Airport, is expected to bid for the Navi Mumbai Airport. Reddy said the Chhatrapati Shivaji International Airport in Mumbai had space constraints for further expansion. 
New capacity

* Total area of 1,50,000 square metre.* 86 check-in counters* 24 departure emigration counters* 24 arrival immigration counters* 30 common user self-service check-ins* 26 boarding gates* 13 baggage reclaim belts* 32 domestic security consoles* 16 international security consoles* 15 boarding bridges including a Code-F stand that can accommodate an Airbus A380

* A new VIP terminal of 10,000 sqft.* Baby care rooms* Smoking rooms* Prayer room* Two new lounges* One day hotel* Spa* 25 retail outlets* 13 new restaurants