The real estate market has exploded in the post-pandemic era. The corporate market is increasing, increasing demand for commercial space and rental residences. According to industry statistics, in the second quarter of this year, Indian rental home searches climbed 84.4% year on year and 29.4% sequentially. Furthermore, total combined rental housing listings rose 3% quarter on quarter and 28.1% year on year throughout the 13 Indian cities covered. Do not miss The 18% GST on rent gets anticipated to harm the rental housing industry. But, what are the variables that will lead to the rental housing demand boom? Accessibility and cost-effectiveness: When it comes to renting a property, people primarily examine three factors: infrastructure, connection, and price. The property’s location, with ready infrastructure and decent connection, takes precedence over the size and price of the unit. Customers want a home in a prominent location that allows them to maintain a good work-life balance, with less commuting time, easier access to…
Top 7 Aerotropolis Cities In The World That Are Inspiring The Future
Are we into the Aerotropolis Golden Age after the Golden Age of planes in the 1950s?
The airport is a compulsory component of the journey we make as quickly as feasible. What if she became a place for herself? It’s not fiction or a fresh concept. Development plans are taken at major airports across the world, ranging from entertainment and commercial services on their premises to grandiose projects in the surrounding districts. Thus, many cities around the world have developed an aerotropolis of their own. About 80 aerotropolis towns and aerotropolis cities are operating and developing around the globe. What are the popular ones in India and the rest of the world? Let’s find out.
The Delhi Aerotropolis (IGIA)
The Aerocity in Delhi is a commercially active and sustainable urban city within a city with the Indira Gandhi International Airport as its core. Delhi Aerocity offers direct connections to Gurgaon, the Trade Centre of the NCR area. There are many luxury hotels, restaurants, taverns, and shopping centers in this metropolitan city center. A noteworthy illustration of the growth of aerotropolis in Delhi is the development of ‘Terminal 3’ with its new integrated and state-of-the-art design.
As the “Safe, Smart and Sustainable Commercial District,” in India, the first such GMR Aerotropolis is being created. It promotes experience through work, play, exercise, world-class cuisine, and entertainment, and provides the socio-economic development of the airport community with very well-connected and engaged urban regions. In the first phase of this Aerotropolis, known as the hospitality district, over 15 hotels, three grade A workplaces, shops, as well as well-designed public services can currently be found.
GMR Aerospace and Industrial Park, Hyderabad
GMR’s plans to create an aerospace cluster and an industrial cluster as part of GMR Hyderabad International Airport to serve the increase in industrial demand of aerotropolis. The Hyderabad Aerotropolis City is a multi-product special economic area (SEZ) that offers an integrated ecosystem that includes major theme-based development areas such as the Business Center, Health Center, Education Centre, the Fun Centre, the retail park, Logistics Parks and Aerospace. GMR has selected this strategic location that offers good rail, road, and aviation connections.
Dallas-Fort Worth International Airport
The Dallas-Fort Worth International Airport (DFW) is a real success story for aerotropolis and has received a lot of economic growth in North Texas. A 12-county region in North Central Texas is covered by the Worth Metropolitan Dallas-Fort (DFW Metro Area), and partnership and cooperation with all of these counties are essential for the development of the DFW Airport. This was not an easy task, but the DFW airport is now an important economic engine in the subway sector (Dallas Fort Worth International Airport 2015). DFW Metro’s operations are funded by air cargo flowing through DFW Airport and produce a total yearly economic activity of $16.7 billion.
DFW Airport’s recurrent operations create $31.6 billion in regional economic activity and support roughly 143,000 employment in the DFW Metro Area, either directly or indirectly. In addition, concession visitor expenditure and associated expenditures raise government and local tax collections by an additional 115 million dollars every year.
Detroit Metropolitan Airport
Detroit may have a brighter future despite the recent economic difficulties. It can establish its aerotropolis, with more industrial engineers and more research and development spending than other regions. The proposed airport will cover 60,000 hectares and include Detroit Metropolitan Airport and Willow Run Airport.
To monitor the growth of an aerotropolis, a quasi-public company was set up to manage the development of a county, city councils, the Wayne County Airport Authority, and local businessmen. However, despite its founding and its goal to construct an aerotropolis, its progress was mostly attributable to political instability and controversy. But Wayne County proceeds towards a possible multi-million dollar agreement with a business from Colorado to develop land within the proposed aerotropolis project.
Edmonton International Airport (Alberta)
In 2009, the City of Leduc and Leduc County representatives of Alberta started working together on a project of approx. 530 acres immediately south of Edmonton International Airport. The project managers look forward to transforming the area into an important development involving hotels, restaurants, exhibitions, and conference centers and attracting manufacturing and distribution companies. The Nisku Energy Park, where more than 28,000 traded employees work, and the 700-acre Port Alberta construction site, storage, and distribution center at the airport would benefit from the aerotropolis development.
Incheon International Airport (Seoul)
Incheon International Airport in South Korea is one of the busiest airports worldwide and was established mostly by China in terms of trade and travel. Incheon International Airport’s (Incheon) trade with China would allow trillions of individuals to open up new markets. The airport is perfectly positioned to this end as it flies from Shanghai and Beijing for only 2 hours and many other major cities in China for 4 hours. Songdo International Business District, together with Incheon, is the planned development of the Aerotropolis.
This international hub of commerce was launched in 2009 and is recognized as a Free Economic Zone, which means that tax advantages for foreign companies and foreigners are granted by the Korean Government and an easier regulation system. Songdo provides office and conference facilities, hotels, residential, retail, schools, health, and recreation services. Songdo hopes to be a global leader in the high-tech industry only 20 minutes from Incheon and 1 hour from Seoul, and already significant businesses like Samsung, Cisco, and IBM are based in the city.
Los Angeles International Airport
Travel and Leisure’s 2012 edition declared LAX as the second-worst airport in the U.S. But as one of the busiest airports in the country, with a $5.25 billion expansion, LAX aims to reverse its reputation. Currently, the airport is in the middle of 3 billion dollars in improvements and is ready for O’Hare to be the second-largest airport in the US. Continuing and forthcoming LAX upgrades include a modernized program for access to and from the airport, the building of a new rental car park, and extension to paths. The project will improve efficiency and efficiency.
Aerospace is a very forward-looking idea that encourages the creation of ecosystems and connects industries, crops, and regions around the globe. Given its strategic location, major business hubs, and strong worldwide economic presence, it has a great deal to prosper in India. More importantly, Aerospace has the scope to be identified as possible investment opportunities, which will only grow in the future. This flourishing age of the aerotropolis will characterize several possible cities and promote them, compelling planners and developers to reevaluate their ideas.
Assetmonk offers quality real estate assets from India’s greatest cities, as a single online platform. We offer a large selection of products for the various investors’ objectives, such as Growth, Growth plus, and Yield. The company’s new project, ‘The Landing’ co-living project, will spread its wings in the Hyderabad International Airport Rajiv Gandhi.
Office buildings, housing premises, recreational green space, and agriculture are all facilities provided by a well-functioning aerotropolis.
Like any other traditional town, the aerotropolis is a central hub with externally permeating development rings. Aerotropolis is a strong engine for local economic development, which attracts aviation-linked companies who want to reach clients all over the world.
Aero-cities have made worlds and enterprises get closer together and flying is no longer a luxury for the few. Living in the vicinity of an airport means having a form of transit, which can carry you all over the world. For internal travel also, aero towns have made it quite convenient.