Andal aerotropolis set for takeoff

A new airport built on a greenfield site in Andal, Bengal is due to start operations this month. It proclaims itself to be ‘India’s first airport-city project’. Partha Ghosh, Managing Director of the develop of the project, Bengal Aerotropolis Pvt Ltd (BAPL) is reported to be ‘bullish’ about the new airport’s prospects for attracting low cost airlines – and this will be helped by tax breaks offered by the West Bengal government. But even with this subsidy the airport does not expect to sufficient earnings from airline parking and landing fees. The article states that ‘the profitability of the project clearly hinges on the city-side development’ and the airport anticipates earning revenue from real estate, from residential, commercial and industrial development on land owned by the airport. Read the full article in the Hindu Businesses Line: Greenfield private airport set for takeoff

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Real estate firm predicts growth around Hyderabad and Bengaluru airports

In India, a real estate firm, Vestian Global Workplace Services, predicts growth in real estate in aerotropolis zones around two of the country’s main airports – Hyderabad and Bengaluru (Bangalore). The firm notes that hotel and MRO (Maintenance, Repair, and Overhaul of aircraft) facilities is already developing, further growth is expected on greenfield (undeveloped) land surrounding the airports. The article also states that real estate ‘activity in the government-promoted economic hubs is gaining momentum’, an indication of the government’s support for aerotropolis style development. Full article: Hyderabad, Bengaluru aerotropolis poised for take-off, says Vestian