Mumbai: Mumbai International Airport Pvt Ltd (MIAL), a GVK-led consortium, signed a Rs 580 crore deal for commercial development, as a first step towards monetising land value at Mumbai airport.
The deal was signed with Oasis Realty Pvt Ltd, which will commercially develop 1.16 million square feet, a small part of the 22 million square feet under MIAL.Â
GVK Reddy, Executive Chairman, MIAL said,”Our vision for GVK SkyCity is to develop a vibrant 24×7 business and leisure hub and a global convention and hospitality destination. It is located in heart of Mumbai and is well connected to all parts of Mumbai and Mumbai Metropolitan Region both existing and proposed high speed-high volume traffic system.”
As a part of the master plan GVK SkyCity, with a state-of-the-art planning and architecture, urban design and landscape, is an ambitious project to redefine the face of Mumbai . GVK SkyCity includes luxury, first class, mid-market and budget hotels, serviced apartments, convention centre, entertainment centre, retail, office spaces, etc.
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