The Bangalore Internatioal Airport will shape the business location and urban development like never before. The new airport will entail muc...
The Bangalore Internatioal Airport will shape the business location and urban development like never before. The new airport will entail much more than runways and terminals. It will have lot of action nearby and around it - with business growing and enough land available to accommodate industrial cargo facilities, and commercial and residential space.
The region around an international airport automatically starts growing with business establishments. From business parks, hotels, residential units and entertainment areas - a cluster of airport-linked businesses will begin to form along corridors in a radius of 25 km. This economic impact will be significant.
Aviation and airports are highly regulated businesses operating in a challenging planning environment. Airports hold very large capital assets in both core aviation and non-core land and buildings. The hospitality industry in particular starts gravitating towards the airport to meet the demand for travellers to stay, owing to the considerable distance from the city area.
Companies that are increasingly reliant on air travel to move people and goods quickly in this global economy will start locating nearby. When thousands of jobs are created, new homes follow. With shopping at airports becoming more competitive than at the malls, airports are recreating the atmosphere of downtowns by opening shopping malls, food courts and conference centres.
The rapid economic expansion and population growth in these areas is creating a tremendous demand for high quality commercial and residential development, and thereby provides a compelling opportunity for real estate investors. The demand for residential property in Devanahalli is likely to shoot up in the very near future, feel industry watchers. A direct metro link will further improve accessibility.
Courtesy: Times of India Bangalore
The region around an international airport automatically starts growing with business establishments. From business parks, hotels, residential units and entertainment areas - a cluster of airport-linked businesses will begin to form along corridors in a radius of 25 km. This economic impact will be significant.
Aviation and airports are highly regulated businesses operating in a challenging planning environment. Airports hold very large capital assets in both core aviation and non-core land and buildings. The hospitality industry in particular starts gravitating towards the airport to meet the demand for travellers to stay, owing to the considerable distance from the city area.
Companies that are increasingly reliant on air travel to move people and goods quickly in this global economy will start locating nearby. When thousands of jobs are created, new homes follow. With shopping at airports becoming more competitive than at the malls, airports are recreating the atmosphere of downtowns by opening shopping malls, food courts and conference centres.
The rapid economic expansion and population growth in these areas is creating a tremendous demand for high quality commercial and residential development, and thereby provides a compelling opportunity for real estate investors. The demand for residential property in Devanahalli is likely to shoot up in the very near future, feel industry watchers. A direct metro link will further improve accessibility.
Courtesy: Times of India Bangalore
