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Adani Realty plans Mumbai expansion, eyes convention centre

2024-11-19

Adani Realty, the real estate arm of the Adani Group, is gearing up for a significant push in Mumbai with plans to develop 6-8 million square feet of residential, commercial, and retail spaces. A highlight of this expansion is a 25,000-seat convention centre near the upcoming Navi Mumbai airport, poised to rival Mukesh Ambani’s Jio World Convention Centre in Bandra Kurla Complex (BKC).

The proposed convention centre will be part of a larger ecosystem featuring five-star hotels, corporate meeting spaces, and retail areas. Covering 3-3.5 million square feet, this project aims to capitalise on its strategic location near Navi Mumbai airport, addressing connectivity challenges often associated with the Jio World Centre in BKC.

Adani Realty has also secured a 24-acre redevelopment project near the Bandra-Worli Sealink, where it plans a mixed-use development of 4.5 million square feet, including 3.5 million square feet for residential purposes. Additionally, the company is redeveloping the former ACC campus in Thane, transforming 18 acres into a residential hub with six towers.

The company’s ambitious projects extend beyond Mumbai. Adani Realty is actively redeveloping Dharavi, Asia’s largest slum cluster, in partnership with the State government. Its growing portfolio spans Ahmedabad, Gurugram, Pune, and Odisha, covering residential, commercial, and retail segments.

Since its inception 12 years ago, Adani Realty has developed 24 million square feet of projects, with an additional 61 million square feet currently under development, marking its rapid expansion in India’s real estate sector. (BusinessLine)