India’s leading realty firm Prestige Estates Projects Limited will invest alongside DB Group into building one of the largest hotel and convention centre in the country at Delhi International Airport Ltd (DIAL) Aero City.
The total investment is to the tune of Rs. 2,000 crores, which is the balance required to complete the project and Prestige will bring in Rs 355 crores for 50% equity stake in the Joint Venture.
DB Group had acquired the development rights on the 7.70-acre land parcel in 2009 from Delhi International Airport Limited. The excavation work on the project land has been completed and the proposed time to complete this project is by 2022.
The project is close to the existing JW Marriot Hotel. It will be one of India’s largest hotel with about 932 keys, a convention facility of over 2 lakh square feet (20,000 seat capacity) and office spaces with a business centre of about 6.5 lakh square feet.
The development will have a total built-up area of about 3.5 Million sqft in the Hospitality District of Indira Gandhi International Airport, New Delhi.
Biltrax Construction Data is tracking the Hotel & Convention Centre Project on their technology platform for their Clients.
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