New Delhi: Adani Airports will invest Rs 20,000 crore in developing aerocities in the six places where it operates hubs - Mumbai, Navi Mumbai, Ahmedabad, Lucknow, Jaipur and Guwahati.

The phase I of this monetisation of land bank at this capex will see 2.2 crore square feet being developed across these places. The development will span over 655 acres in these five states, including nearly 440 acres in Mumbai and Navi Mumbai. The proposed "integrated airport cities" will have hospitality, retail, entertainment, convention and commercial infrastructure within walkable urban districts.Adani Airport Holdings (AAHL) director Jeet Adani said: "The most successful airport districts have become centres of commerce, tourism and urban growth. As India's aviation market expands, airports have an opportunity to create value far beyond aviation. We are creating integrated urban destinations where airports become catalysts for investment, employment, better passenger experiences and long-term growth of the cities they serve.

"AAHL says the project is inspired by "globally successful airport districts Singapore's Changi and Dubai International, bringing airport-led development model to India's rapidly expanding aviation market."