AI to lease space for restaurants

Air India is planning to lease its property to restaurants and food majors at Nariman Point, Mumbai building as a part of its asset monetisation plan.

The company has provided the space to bidders on a three-year period however the airline company did not specify the total area being put up for lease but its tender notice said, “Minimum 1000 sq ft area on the ground floor would be offered for the opening of eatery joints. Area of over and above 1000 sq ft would also be considered, subject to space availability.”

Raja Seetharaman, MD, Aperon Realty, said, “AI can fetch about Rs 450 per sq ft if it lease premises to fine dining restaurants.”