Adani Airports Launches ₹20,000 Crore Cityside Development Drive, Anchored by Mega Projects in Mumbai Region

In a bold move to reshape India’s airport infrastructure and revenue model, Adani Airports has unveiled a ₹20,000 crore cityside development programme, with nearly ₹14,000 crore earmarked for large-scale real estate ventures near Mumbai and Navi Mumbai airports. The initiative marks a strategic pivot toward boosting non-aeronautical revenues, which the group aims to grow to 70% of total income by 2030, up from the current industry average of 50%.

Mixed-Use Airport Cities Inspired by Global Models

The centrepiece of this transformation is a 240-acre mixed-use development at the upcoming Navi Mumbai International Airport, scheduled to begin operations in October. The first phase, spanning 50 acres, will feature:

• Five hotels with a combined 1,000 rooms
• A high-capacity shopping mall
• Three premium office towers
• Service apartments integrated with hotel facilities

Inspired by global airport cities like Amsterdam’s Schiphol, Zurich’s The Circle, and Sydney Airport, Adani’s model aims to create walkable business districts that serve both travelers and local residents.

Strategic Shift Toward Commercial Real Estate

The cityside programme spans 655 acres across eight airports, but Mumbai and Navi Mumbai will receive nearly 70% of the total investment. According to Amit Grover, CEO of City Side Development at Adani Airports, the goal is to flip the traditional airport revenue model, making retail, hospitality, and real estate the primary growth drivers.

Financing and Growth Momentum

To fund the expansion, Adani Airports recently raised $750 million through external commercial borrowings, aimed at refinancing debt and scaling up its retail, F&B, and duty-free operations. The airport business reported ₹2,715 crore in revenue for Q1FY26, marking a 25% year-on-year growth, driven by higher passenger footfalls and stronger commercial leasing.

Urban Impact and Future Outlook

Industry analysts suggest that Adani’s cityside developments could transform surrounding regions into high-demand real estate corridors, positioning airports as economic and cultural anchors rather than mere transit hubs. The projects are expected to integrate green building standards, pedestrian-friendly layouts, and long-term lease opportunities for corporate tenants and hospitality brands.

With construction advancing rapidly, Mumbai and Navi Mumbai are poised to lead India’s evolution toward global-style airport business hubs, redefining how cities interact with transport infrastructure.

Adani Cuts Ties with Turkey & China based Companies

Adani Airports has terminated agreements with both Turkish ground handling firm Çelebi and Chinese lounge access provider DragonPass due to national security concerns.

The Indian government revoked Celebi's security clearance, citing national security risks. Adani Airports directed Celebi to hand over all ground handling facilities at Mumbai and Ahmedabad International Airports.

Çelebi Aviation

Celebi was responsible for ground handling at Mumbai and Ahmedabad International Airports. Adani Airports has directed the company to hand over all facilities, ensuring seamless service through new agencies.

Çelebi Aviation is a Turkish-origin ground handling firm that has operated in India for over 15 years.

Termination of agreement with Celebi is a shake-up in India’s aviation sector which could lead to new players entering the ground handling space considering the fact that the firm entered India in 2009 and its presence in India has been significant, handling 58,000 flights annually and employing 7,800 people.

Celebi initially partnered with Mumbai International Airport to provide ground handling services. Over the years, it grew to operate at nine major airports, including Mumbai, Delhi, Cochin, Kannur, Bangalore, Hyderabad, Goa, Ahmedabad, and Chennai

Celebi Aviation India claims it is not a Turkish firm, stating that 65% of its ownership lies with international investors from Canada, the US, the UK, Singapore, the UAE, and Western Europe.

However, Celebi Havacılık Holding A.Ş., a Turkish entity, holds 50% ownership, raising concerns about its Turkish affiliations.

DragonPass

Adani Airports terminated its association with DragonPass, which provided digital airport lounge access. DragonPass customers can no longer access lounges at Adani-managed airports.

Announced just in last week, the Adani-Dragonpass collaboration would have had allowed Dragonpass to gain access to all Adani-managed airport lounges, along with additional key lounges across India.

According to news agency IANS, Adani's association with DragonPass, which provided access to airport lounges, has been terminated with immediate effect.

The move comes amid heightened tensions between India and Turkey, following Ankara’s support for Pakistan after India's recent military action, Operation Sindoor.

Our association with DragonPass, which provided access to airport lounges, has been terminated with immediate effect. DragonPass customers will no longer have access to lounges at Adani-managed airports. This change will have no impact on the airport lounge and travel experience… pic.twitter.com/p0hol3GYIO

— IANS (@ians_india) May 15, 2025

The termination of these partnerships could reshape India’s aviation sector, affecting ground handling operations and digital lounge access services.

This decision reflects India’s tightening stance on foreign partnerships, particularly in critical infrastructure sectors. What do you think about this shift? Comment your opinion below...

Adani to Invest $2 Bn in Building Jio World Like Convention Centre

Adani Group has announced plans to invest $2 billion in building an International Convention Centre (ICC) near the upcoming Navi Mumbai airport. This new convention center aims to rival Jio World in Bandra Kurla Complex, Mumbai.

The convention center will be located near the Navi Mumbai airport, providing a locational advantage with better connectivity compared to Jio World.

In February this year, Adani Realty had won a 24-acre reclamation redevelopment project near the Bandra-Worli sealink. The project includes around 6-8 million square feet of residential, commercial, and retail development, including a 25,000-seat convention center.

At present, the Jio World Convention Centre is the city's largest, with a total area of about 1 million sq. ft.

ICC, the convention center, will have a 5-star hotel with 275 rooms with total indoor area of about 1.2 million sq. ft, with 0.3 million sq. ft of space for vehicle parking and other purposes.

The upcoming convention centre spanning 1.5 million sq. ft, will be able to accommodate 15,000-20,000 people. It will be owned and managed by Adani Airport Holdings Ltd, despite of the fact that most of Adani's real estate projects are owned by Adani Realty.

The development will feature hospitality, corporate meeting spaces, and retail areas, creating a comprehensive ecosystem around the new airport. This investment is part of Adani Realty's broader strategy to expand its real estate footprint in Mumbai and other cities.

This ambitious project is expected to transform the area into a major hub for large-scale events, exhibitions, and social gatherings.

The MICE market (Meetings, Incentives, Conferences, and Exhibitions) is a significant segment of the travel and tourism industry. The global MICE market was valued at $802.59 billion in 2023 and is expected to grow at a CAGR of 9.1% from 2024 to 2030. By 2032, the market is projected to reach $2,309.4 billion, registering a CAGR of 11.6% from 2023.

The Asia Pacific region, including India, is expected to experience the fastest growth due to increasing government support and infrastructural development.

Yashobhoomi, developed by the India International Convention & Exhibition Centre (IICC) Ltd, is India's largest convention and exhibition center. Located at the border of Delhi and Gurgaon in Dwarka, New Delhi, it offers state-of-the-art facilities for hosting national and international events.

Yashobhoomi has a 3,500 square meter banquet room equipped with high-spec audiovisual systems. It has an 8,000 square meter digital display visible from all sides. Totaling 51,000 square meters, these halls can be divided into four sections for simultaneous events. It has India's largest auditorium with a seating capacity of 6,000.

Yashobhoomi is part of a larger smart city project driven by the Government of India, aiming to create a comprehensive ecosystem for events, exhibitions, and entertainment.

About the Jio World Convention Centre, it is located in the Bandra Kurla Complex (BKC) in Mumbai and is one of India's premier venues for exhibitions, conventions, meetings, and social events. The convention center spans 1,03,012 sq. m., making it one of the largest in India. The center includes 25 meeting rooms and 2 business lounges, all equipped with cutting-edge technology.

The center is LEED Platinum certified, featuring an intelligent parking management system, over 5,000 dedicated parking spaces, and charging stations for electric cars.

The largest convention center in the Asia-Pacific region is the National Exhibition and Convention Centre (NECC) in Shanghai, China. It boasts an impressive 3.38 million square feet of exhibition space, making it one of the biggest in the world.

The Suntec Singapore Convention & Exhibition Centre is a world-class venue located at 1 Raffles Boulevard, Singapore. It offers 100,000 square meters of available floor space, making it one of the largest and most versatile convention centers in the region. The center can cater to events ranging from 10 to 10,000 people, with various customizable spaces.

Adani Group in Advance Talks to Raise $1 Bn for Its Airports Division

The Adani Group is in advanced discussions with a Middle Eastern sovereign fund to raise up to $1 billion for its airports division, said a report by Economic Times. This funding will support the expansion of Adani Airport Holdings and enhance its infrastructure.

Additionally, Adani Enterprises has launched a qualified institutional placement (QIP) to raise up to $500 million, with a greenshoe option for an additional $500 million. The group has scaled back its initial target from $2 billion due to global market fluctuations.

Citing a source, the report further said that the company is also aiming for the flexibility to raise part of the funds next year for its airports business, which is fully owned by Adani Enterprises.

Funds from the QIP will also be used to repay certain debts of its subsidiaries, primarily those of Adani Airport Holdings Limited.

Late last month, Adani Airport Holdings successfully raised ₹195 Crore (approximately $232.72 million) through a domestic bond issue.

Adani Airports, which operates seven airports and is constructing another in Navi Mumbai, has planned an investment of $21 billion over the next decade, according to group CFO Jugeshinder Singh, as mentioned by the report.

Adani plans to raise capital for Adani Airport Holdings in two phases, with the first round likely to be secured from the sovereign fund by the end of this quarter, though the fund’s name has not been disclosed, said the report.

A Middle Eastern sovereign fund refers to a state-owned investment fund that manages a country's reserves. These funds are typically used to invest in various assets, including stocks, bonds, real estate, and infrastructure projects, both domestically and internationally.

Some of the most prominent Middle Eastern sovereign funds include Abu Dhabi Investment Authority (ADIA), Public Investment Fund (PIF) of Saudi Arabia and Qatar Investment Authority (QIA).

ADIA has been a significant investor in the Adani Group, providing substantial capital for various projects. QIA has also backed the Adani Group with investments in different Ventures.

Adani Airport Holdings Raises ₹ 195 Crores via Bond Issues

Adani Airport Holdings has successfully raised ₹195 Crore (approximately $232.72 million) through a domestic bond issue. The bonds, rated A+, will pay a monthly coupon of 9.35%. This marks the largest bond issue by the company since the Hindenburg Research report in January 2023.

The funds raised will be used to repay investments made by the Airports Authority of India in six airports before they were acquired by the Adani Group. Anchor investors include SBI Equity Hybrid Fund, Aditya Birla Finance, and Aditya Birla Sunlife Mutual Fund.

Raising ₹19.5 billion (195 crores) helps Adani Airport Holdings manage its debt and improve liquidity, which is crucial for maintaining financial stability and investor confidence.

The funds will be used to repay investments made by the Airports Authority of India in six airports, facilitating smoother operations and potential future expansions.

Moreover, successfully raising such a substantial amount through bonds, especially after the scrutiny from the Hindenburg Research report, demonstrates strong market confidence in Adani Group’s financial health and business prospects.

This move aligns with Adani Group’s broader strategy to expand its footprint in the airport sector, enhancing its infrastructure capabilities and competitive edge.

Through a concession agreement with the Airports Authority of India, Adani Airport has acquired six airports — Ahmedabad, Guwahati, Jaipur, Lucknow, Mangalore, and Thiruvananthapuram.

Adani Incorporates New Subsidiary in Abu Dhabi for Running Airports Outside India

Adani Airport Holdings Ltd. has recently incorporated a wholly owned subsidiary named Global Airports Operator LLC in Abu Dhabi. This new entity is set up to handle investment, acquisition, construction, operation, and maintenance of airports outside India.

Adani Airport Holdings currently manages several airports in India, including those in Mumbai, Ahmedabad, and Lucknow, and is looking to expand its operations internationally.

Adani Group has significantly expanded its presence in the Indian aviation sector through Adani Airport Holdings Limited (AAHL).

Adani Group manages eight airports in India including Mumbai (Chhatrapati Shivaji Maharaj International Airport), Ahmedabad (Sardar Vallabhbhai Patel International Airport), Lucknow (Chaudhary Charan Singh International Airport), Mangaluru (Mangaluru International Airport), and Jaipur (Jaipur International Airport) among others. 

Adani Airports handle about 25% of India's passenger traffic and 33% of the country's air cargo traffic. The group aims to transform these airports into world-class destinations, enhancing the overall passenger experience and integrating advanced infrastructure. They focus on creating seamless and secure airport environments, redefining the relationship between cities and their airports.

With the incorporation of Global Airports Operator LLC in Abu Dhabi, Adani Group is looking to expand its airport operations internationally.

Adani Group has announced a significant investment of ₹60,000 crore over the next 5-10 years to expand its airport business1. This investment aims to increase the capacity of the airports managed by Adani Ports up to three times by 2040.

Adani Submits Proposal to Kenya Govt for the Country's Biggest Airport

Gautam Adani's portfolio firm Adani Airport Holdings Ltd. has submitted a proposal to Kenya's government for investing in its main airfield, the Jomo Kenyatta International Airport (JKIA) in Nairobi, reported Bloomberg.

The proposal, as per the statement by KAA acting Managing Director Henry Ogoye, includes plans to build a new passenger terminal, a second runway, and refurbish existing facilities. The investment required is substantial, estimated at $1.85 billion, with the first five years of the proposed upgrade project requiring around $830 million.

However, the proposal is yet to undergo technical, financial, and legal reviews to comply with the nation's public-private partnerships laws. Neighboring Ethiopia, which operates Africa's largest airplane fleet, has also been expanding its aviation infrastructure in recent years, challenging Kenya's regional aviation hub status.

To recall, in early of last month, Adani Group (represented by Adani Ports and Special Economic Zone Ltd. joint venture) already entered Africa by acquiring a 95% stake in a container terminal company at the Port of Dar es Salaam in Tanzania. According to an exchange filing, Adani collaborated with Abu Dhabi-based logistics firm AD Ports Group and East Harbour Terminals Ltd. to acquire Tanzania International Container Terminal Services Ltd. for $39.5 million

Jomo Kenyatta International Airport (JKIA) in Nairobi faces several challenges that highlight the urgent need for infrastructural IMPROVEMENTS. The facilities at JKIA date back several decades, and many components require modernization to meet current standards. Over the past ten years, JKIA has suffered from insufficient facility and infrastructure capacity upgrades. Even temporary interventions have become permanent solutions, contributing to the current state of affairs and service disruptions.

Recently, videos emerged showing leaking roofs at JKIA, emphasizing the need for urgent repairs and maintenance. In April 2023, JKIA experienced an engine failure during takeoff of a Singapore Airlines Cargo plane, leading to an eight-hour shutdown. A second runway could have prevented such disruptions.

Notably, a previously planned Greenfield terminal project faced contract and litigation issues, resulting in delays.

Despite these challenges, there is optimism. Adani Airport Holdings Limited (AAHL) has proposed a significant investment to modernize JKIA, addressing infrastructure deficiencies and paving the way for growth and enhanced competitiveness in the region.

JKIA is located in Embakasi, a suburb of Nairobi, is Kenya's largest and busiest airport. It serves as the main gateway to the country, connecting Kenya to various international destinations.

In 2023, the number of passengers at JKIA surged to 8.2 million, accounting for 67.3% of all passengers in Kenya. JKIA's significance as an aviation center sets the pace for other airports in the region, and it continues to play a vital role in East and Central Africa's air travel landscape.

Adani Airport Holdings Limited (AAHL) took flight in 2019 with a vision to transform airport experiences. As a subsidiary of Adani Enterprises Ltd, AAHL manages seven top-tier airports in India: Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram.

AAHL's reach extends further with the Navi Mumbai International Airport (NMIAL), ushering in a new era for India's aviation sector¹². AAHL's commitment lies in curating exceptional journeys, from personalized services to innovative facilities, making airports gateways of wonder. They prioritize route development, retail experiences, digital transformation, elevated service quality, and sustainability initiatives.