GMR Infrastructure Ltd has completed the international competitive bidding process for the selection of a developer for Integrated Retail Development at the Delhi International Airport Ltd.
This is in addition to the 5.67 lakh sq.m already developed as a Hospitality District at Delhi Aerocity.
DIAL has issued the letter of award to design, develop, construct, finance, own, operate and maintain the ‘Integrated Retail Development Project’ with FSI of 1.96 lakh sq.m to Bharti Realty Holdings Ltd.
The transaction involves upfront payments of Rs 315 crore and license fee equivalent to 20 per cent of the revenue with minimum guaranteed payments.
The effectiveness of the transaction is subject to certain conditions, precedents and necessary approvals, GMR informed BSE.