India's first shopping mall-cum-coworking facility adjacent to an airport is expected to be launched in Pune in mid-October, according to Anarock Retail.
Situated adjacent to the Pune Airport, the AeroMall, being developed by Pebbles Infra-Tech under the PPP model with AAI, is spread over 4,45,000 sq ft, including 1,30,000 sq ft of leasable space for retail.
As sole advisors to the facility, Anarock Retail has designed the complex, managed its development, and crafted its tenant mix, Anarock Retail, the retail services division of the home-grown real estate consultant Anarock, said.
Pune airport is the only airport in India within the city and the only instance of a co-working and shopping facility directly adjoining an airport with a multi-level car park, Anarock Retail said.
The post-pandemic revival in air travel has brought airport retail back centre-stage. However, there continues to be a deficit of quality retail spaces at Indian airports for the best-suited retailers dealing in apparel and fashion, wellness, electronics and travel accessories, F&B, and beauty products, the company said.
Airport retail is attractive for retailers due to the relatively higher ROI compared to other locations. However, a well-researched tenant mix is critical in airports, it said.
Stating that AeroMall is set to be launched on October 15, Anarock Retail said it expects to complete leasing out Pune Airport's standalone mixed-use centre encompassing shopping, office and coworking, a food court and multi-level car park (MLCP), spread in 2,50.000 sq ft, by the end of the third quarter of 2022.