Adani Realty, the real estate division of the Adani Group, is ramping up its efforts in the retail and hospitality sectors. The company has posted job openings in the retail and food and beverages (F&B) segments on professional networking platforms such as LinkedIn. This move is part of a broader strategy to bolster its presence in these industries.
Key Executive Appointment
In a significant hire, Adani Realty has appointed Rajendra Kalkar as the business head of its malls and hospitality division. Kalkar, who previously served as president of malls and director at Phoenix Mills, brings extensive experience to the role and is expected to drive the company’s ambitious retail and hospitality projects.
Development Plans Near Airports
As part of its retail and hospitality foray, Adani Group is focusing on city-side developments near or within airports. These projects aim to create comprehensive lifestyle hubs featuring shopping centers, multiplexes, food courts, spas, and other amenities. According to industry sources, the group is planning to develop over 160 acres at Mumbai airport, 100 acres in Lucknow, 200 acres in Navi Mumbai, 17 acres in Jaipur, and 2 acres in Thiruvananthapuram.
Strategic Vision for Airport Real Estate
“They want to develop the real estate near airports and attract air passengers to the malls, hotels, and multiplexes,” said an industry executive familiar with the plans. Additionally, the group is considering the development of a mall in Dharavi, Mumbai, an area known for housing Asia’s largest slum, which is currently being redeveloped by Adani Realty.
Major Investment in Airport Expansion
Karan Adani, Managing Director of Adani Ports and Special Economic Zone, recently announced that the group plans to invest approximately ₹60,000 crore to expand its seven existing airports over the next five to ten years. These airports include those in Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram.
Adani Realty’s Track Record and Future Projects
Over its 12 years of operation, Adani Realty has developed 22.5 million square feet of property and is currently developing an additional 35.1 million square feet. The company is also building retail and restaurant spaces in Gurugram, Haryana, further showcasing its commitment to expanding its footprint in the retail and hospitality sectors.
With strategic hires, significant investments, and extensive development plans, Adani Group is poised to make a substantial impact on the retail and hospitality landscape in India. The group’s focus on leveraging its real estate assets near airports positions it to capitalize on the growing demand for integrated lifestyle destinations.