Bharti Realty Plans Massive Commercial District Near Delhi Airport

Bharti Realty, the real estate arm of Bharti Enterprises, has revealed its ambitious plan to develop a large district near Delhi’s airport. With an aim to tap into the growing demand for premium office and retail spaces, the project will comprise a massive 17 million sq ft of commercial area. The announcement comes as Bharti Realty strives to expand its presence in the market and further establish itself as a key player in the real estate industry.

Previous Success and Monetization of Real Estate Properties

Bharti Realty is no stranger to successful real estate ventures. The company has already developed over 5 million square feet of Grade-A commercial real estate, incorporating a diverse range of commercial, retail, and lifestyle offerings. One of its notable projects is the commercial development ‘Worldmark’ in Delhi’s Aerocity, which boasts a total leasable area of approximately 1.3 million sq ft. In a strategic move to drive growth and maximize the potential of this property, Bharti Realty sold a 51 per cent stake to global investment firm Brookfield.

Enormous Construction Pipeline

Amidst its expansion plans, Bharti Realty has already commenced the construction work for a whopping 6.5 million sq ft of commercial space. This includes 3.5 million sq ft of Grade-A office space and an additional 3 million sq ft dedicated to retail. The company has awarded construction contracts to various firms, demonstrating its commitment to bringing this monumental project to life. As progress continues, Bharti Realty aims to achieve significant construction milestones, enabling it to begin pre-leasing commercial spaces later this year.

Rental Yield and Average Office Rentals

One of the key factors driving Bharti Realty’s confidence in the project’s success is the healthy upside in rental yield. Already, the operational portion of the Worldmark project is witnessing average office rentals surpassing Rs 225 per sq ft. With such encouraging figures, the company is poised to reap the benefits of its extensive investment in the commercial real estate sector.

Collaboration with Delhi International Airport Ltd

Bharti Realty secured this massive development opportunity from Delhi International Airport Ltd, a subsidiary of GMR Infrastructure. Building a strong presence in regions like Delhi-NCR and Punjab, the company has consistently delivered exceptional real estate projects. In April 2022, Bharti Enterprises entered into an agreement with Brookfield Asset Management, resulting in the sale of a 51 per cent stake in four commercial properties, including Worldmark at Aerocity. The deal, valued at Rs 5,000 crore, was successfully closed in May last year. Meanwhile, Bharti Enterprises continues to retain ownership of future development in the Worldmark project.

A Diversified Business Conglomerate

Bharti Group, of which Bharti Realty is a prominent subsidiary, is a diversified business conglomerate with interests spanning various sectors. Alongside real estate, it has a strong presence in telecommunications, insurance, hospitality, and food businesses. As Bharti Realty forges ahead with its projects, the company exemplifies the resilience and dynamism that have propelled the Bharti Group to the forefront of multiple industries.

The Gateway to Opportunities

The massive commercial development near Delhi’s airport by Bharti Realty promises to unlock a world of opportunities in the real estate sector. With its strategic location and commitment to delivering high-quality, state-of-the-art spaces, the project is set to meet the skyrocketing demand for premium office and retail spaces in the region. As the construction progresses and pre-leasing milestones are achieved, the commercial district will become a prominent landmark, attracting businesses and investors looking to establish a strong foothold in Delhi’s bustling economy.

Sumit Mondal Content Analyst at Square Yards
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