Adani Realty Eyes Major Expansion in Mumbai, Set to Compete with Jio Convention Centre.

Adani Realty, the real estate arm of the Adani Group, is gearing up for a significant real estate push in Mumbai, with plans to develop 6-8 million square feet of residential, commercial, and retail spaces. A centerpiece of this initiative is a 25,000-seat convention center near the upcoming Navi Mumbai airport, designed to rival the Jio World Convention Centre in Bandra Kurla Complex (BKC).

The proposed development aims to create a comprehensive ecosystem around Navi Mumbai airport, including five-star hotels, corporate meeting spaces, and a high street retail zone. This project alone will span approximately 3-3.5 million square feet, offering a locational advantage over Jio World Convention Centre, which faces connectivity challenges due to its distance from Mumbai's airports.

In addition, Adani Realty is advancing several other key projects in the city. Earlier this year, the company won a 24-acre reclamation redevelopment project near the Bandra-Worli Sea Link, where it plans to build a mixed-use complex with 4.5 million square feet of residential and commercial spaces. Of this, 3.5 million square feet will be allocated for residential developments, with the rest reserved for commercial use, as per tender conditions and local development regulations.

The company is also repurposing the ACC campus in Thane, previously a research and development site for its cement business. On the 18-acre site, six residential towers are under development.

Further bolstering its portfolio, Adani Realty is undertaking the redevelopment of Dharavi, Asia's largest slum cluster, in a joint venture with the Maharashtra State Government.

Since its establishment 12 years ago, Adani Realty has developed 24 million square feet across key cities like Ahmedabad, Mumbai, Gurugram, Pune, and Odisha. An additional 61 million square feet is currently under development, marking the company’s rapid ascent in the Indian real estate market.

HBL