Bengaluru Airport City Limited (BACL), a subsidiary of Bangalore International Airport Limited (BIAL), has commenced construction on a massive 2 million sq ft Business Park.
According to a BIAL statement released on Monday, the project, which is part of Karnataka’s new Global Capability Centres (GCC) policy (2024-2029), aims to position Bengaluru as a key global hub for GCCs, while generating 3.5 lakh jobs and contributing USD 50 billion to the state's economy, PTI reported.
The Business Park, spread across 17.7 acres, will be part of the larger Kempegowda International Airport (BLR Airport) campus. Bengaluru Airport City is being developed as a mixed-use destination, featuring business parks, an education and health district, research and development hubs, along with multiple entertainment and hospitality options.
Rao Munukutla, Executive Director & CEO of BACL, emphasised Bengaluru’s leadership in the GCC space, with the city hosting 36% of India’s GCC workforce across sectors like IT, biotechnology, automotive, and aerospace.
In a boost for connectivity, the upcoming Airport West metro station, located near the Business Park, will link it to Bengaluru’s city centre, offering faster and more eco-friendly commuting options. Future plans for the airport city include the development of India’s first ‘Concert Arena’ within an airport ecosystem, alongside a Convention & Exhibition Centre.
Karnataka’s draft GCC Policy
{{/usCountry}}In a boost for connectivity, the upcoming Airport West metro station, located near the Business Park, will link it to Bengaluru’s city centre, offering faster and more eco-friendly commuting options. Future plans for the airport city include the development of India’s first ‘Concert Arena’ within an airport ecosystem, alongside a Convention & Exhibition Centre.
Karnataka’s draft GCC Policy
{{/usCountry}}The Karnataka Government on September 27 launched a draft Global Capacity Centres (GCC) policy with the aim to attract 500 new GCCs by 2029, making the southern state the first in the country to launch a dedicated framework towards this segment.
GCCs are offshore captive centres of multinationals that handle support operations such as back-office functions, IT assistance and customer relationship management, among others. Some large companies use GCCs as centres of excellence as well.
According to a report by property consultancy CBRE, Bengaluru led office leasing by GCCs between 2022 to H1 2024 with a 40% share in the overall 53 million square feet of office space taken up by the segment across the top six cities in India during the 30-month period.
(Also Read: Karnataka’s draft GCC Policy: Here are five things you should know)
(With PTI inputs)