Delhi’s office market is set for a significant transformation with over 10 million sq. ft of new office space on the horizon. For years, the capital has lagged in office space additions, pushing many corporates to relocate to Gurugram or Noida. However, with new developments by Bharti Realty, GMR, and Prestige Group in the Aerocity commercial district, the city’s office market is set to double, creating new opportunities for businesses and investors alike.

At the heart of these developments is the National Buildings Construction Corporation (NBCC), which is spearheading the construction of a 3.2-million-sq-ft World Trade Centre in South Delhi. This project is expected to significantly boost Delhi’s commercial infrastructure, drawing global attention to the capital’s growing real estate potential. Once completed, it will provide a premium office space option for both local and international businesses seeking a prestigious Delhi address.

Aerocity's Emergence as a Commercial Hub

Delhi’s Aerocity area near the Indira Gandhi International Airport is quickly becoming one of the most sought-after commercial districts in India. Major real estate players like Bharti Realty, GMR, and Prestige Group are investing heavily in the region, with plans to add over 10 million sq. ft of office space. This surge in development comes after a decade of limited office space additions in the capital, positioning Aerocity as a critical destination for businesses seeking Grade A office buildings with easy access to the airport.

Bharti Realty, one of the major contributors to this expansion, is developing approximately 6.5 million sq. ft of office space in Aerocity, with a total investment of over US$ 787.3 million (Rs. 6,595 crore). This development is part of Bharti Realty’s vision to create a global business hub in Delhi, offering high-quality office spaces designed to meet the needs of modern businesses. As part of this ambitious project, 3 million sq. ft will be dedicated to retail, including one of the region’s largest malls, adding a vibrant mix of office and retail space to Aerocity.

New Grade A Buildings Attracting High-End Tenants

One of the key drivers of this office market expansion is the increasing demand for Grade A office spaces in Delhi. According to Vibhor Jain, Managing Director-North India at Cushman & Wakefield, these top-tier office buildings are attracting firms willing to pay higher rents for a prestigious Delhi pin code. With several deals already in progress, Delhi is seeing renewed interest from corporates and multinational companies looking for premium office locations within the capital.

The growing demand for Grade A office space in Aerocity is also being fueled by the region’s strategic location near the airport, which offers excellent connectivity for businesses that operate globally. Many companies view Aerocity as an ideal location for setting up regional headquarters or expanding their existing operations in India. As a result, rental values in this area are expected to rise, making it one of the most desirable commercial districts in the country.

Prestige Group’s First Commercial Project in Delhi

The Prestige Group, a prominent name in the Indian real estate sector, is making its commercial debut in Delhi with the Prestige Trade Tower. Located near the Delhi airport, this project is part of a 7.7-acre mixed-use development in Aerocity. The development will include 645,000 sq. ft of office space, 932 hotel rooms, and a 200,000 sq. ft convention center, making it a landmark commercial project in the city.

The Prestige Trade Tower is expected to become a key component of Aerocity’s business ecosystem, offering premium office spaces alongside luxury hotel facilities and state-of-the-art convention centers. This mixed-use approach is designed to cater to the needs of global business travelers and corporates looking for a convenient, high-quality work environment in close proximity to the airport.

Bharti Realty's Ambitious Plans

Bharti Realty has emerged as one of the leading players in Delhi’s commercial real estate market, with its ambitious plans for Aerocity. The company’s initial phase of development, which included Worldmark 1, 2, and 3, covered 1.5 million sq. ft of office space. This project was later acquired by Brookfield Asset Management, a testament to the growing demand for premium office spaces in the region.

In addition to its office space developments, Bharti Realty is also planning to expand its retail footprint, with new malls and commercial centers planned as part of the second phase of development. The new retail spaces will offer a wide range of shopping, dining, and entertainment options, further enhancing Aerocity’s appeal as a business and leisure destination.

A New Era for Delhi’s Office Market

Delhi’s office market is on the cusp of a major transformation, with over 10 million sq. ft of new office space set to be added in the coming years. This expansion will not only double the city’s office space inventory but also position Delhi as a key player in the global commercial real estate market. The combination of Grade A office buildings, mixed-use developments, and proximity to the airport will make Delhi an attractive destination for multinational companies and large corporations looking to expand their operations in India.

Moreover, the developments in Aerocity are expected to have a ripple effect on Delhi’s real estate market, driving up property values and increasing demand for both residential and commercial spaces in the surrounding areas. As more businesses move into the region, Aerocity is likely to become a major business hub, rivaling established commercial districts in Gurugram and Noida.

The new office spaces will cater to a wide range of businesses, from technology companies to financial institutions, providing them with the modern amenities and infrastructure they need to succeed in today’s competitive environment.

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