DIAL issue letter of award for development of retail assets at Delhi Airport
GMR Infrastructure announced that the international competitive bidding process for the selection of developer for Integrated Retail Development has been completed. This is in addition to 5.67 Lac sqm already developed as 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 Lac sqm to Bharti Realty Holdings. The transaction involves upfront payments of Rs 315 crore (including RSD, ADC, Bid Processing Fee) and License Fee equivalent to 20% of Revenue with Minimum Guaranteed Payments.
The effectiveness of the transaction is subject to certain conditions precedents and necessary approvals.
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