India's Adani Airports to invest over $2 billion in developing airport cities
India's Adani Airports to invest over $2 billion in developing airport cities BENGALURU, June 25 (Reuters) - India's Adani Airports will invest more than 200 billion rupees ($2.12 billion) to develop airport-linked commercial districts across six locations in the country, the Adani Group firm said on Thursday.
The developments will span more than 655 acres across airports in Mumbai, Navi Mumbai, Ahmedabad, Lucknow, Jaipur and Guwahati.
Adani Airports currently manages eight airports across India, according to its website.
Nearly 70% of the planned investment will be concentrated in Mumbai and Navi Mumbai, reflecting the region's position as India's leading commercial and financial hub.
Airport cities will include hotels, retail centres, office space and entertainment venues integrated with airport infrastructure.
The company said the developments were inspired by airport-city models in Singapore, Dubai, Amsterdam and Seoul
The company has already signed agreements with IHG Hotels & Resorts for five hotels for the project, and is in talks with partners across food and beverage, and entertainment segments.
($1 = 94.3950 Indian rupees)
(Reporting by Nishit Navin; Editing by Jonathan Ananda and Maju Samuel)
((Nishit.Navin@thomsonreuters.com;))
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