How Bharti Real Estate's Worldmark is reshaping India's commercial real estate

As India's commercial real estate market evolves beyond standalone office towers and shopping malls, Bharti Real Estate is betting on integrated business districts that combine workplaces, retail, hospitality and entertainment within a single ecosystem.

In an exclusive interview with Fortune India, S.K. Sayal, Managing Director & CEO of Bharti Real Estate, shared how the company's flagship development, Worldmark, is shaping the next generation of mixed-use commercial projects and redefining the workplace experience in India.

According to Sayal, the next phase of urban development will be driven by integrated destinations where people can work, shop, dine and socialise in one place rather than across isolated commercial assets.

Located next to Delhi's Indira Gandhi International Airport, Worldmark is being developed as a global business district, bringing together premium office spaces, retail, hospitality, entertainment and public spaces within a single integrated ecosystem.

"We don't want to be the biggest. We want to be the most admired," said Sayal. "Our objective is to create iconic developments that continue to remain relevant for decades."

Established in 2003 as the real estate development arm of Bharti Enterprises, Bharti Real Estate was created to develop world-class commercial assets that cater to both the group's infrastructure needs and the broader market's growing demand for premium workspaces.

Although the unlisted company contributes less than 1% to Bharti Enterprises' average annual consolidated revenue of over ₹1.5 lakh crore, it has emerged as the group's flagship platform for developing institutional-grade office spaces, retail destinations and large mixed-use projects such as Worldmark.

Creating a new commercial landmark

Bharti Real Estate plans to develop nearly 17 million sq. ft. of leasable space, with the potential to expand to almost 20 million sq. ft. of mixed-use space at Delhi's Aerocity.

The company is building what it describes as a Global Business District around its Worldmark development, combining Grade-A office space, destination retail, hospitality, entertainment and public spaces within a single ecosystem.

Bharti Real Estate's first phase of development—Worldmark 1, 2 and 3—comprising around 1.3 million sq. ft. of office space, has already been completed and was fully leased to Brookfield in a transaction valued at nearly ₹5,000 crore.

The company is now in the final stages of constructing Worldmark 2.0, a mixed-use development spanning nearly 7 million sq. ft.

About 4 million sq. ft. of the project will comprise Grade-A office space, with tenant handovers expected to begin within the next six months.

Despite global concerns over hybrid work, Sayal believes demand for premium office assets remains strong.

"Companies today are consolidating into world-class campuses that offer superior infrastructure, sustainability and connectivity. We continue to see strong demand from multinational corporations looking for premium workplaces," he said.

Retail to anchor the project

Alongside offices, Bharti Real Estate is significantly expanding its retail footprint. Worldmark 2.0 will house nearly 3 million sq. ft. of retail and entertainment space. Together with another 1 million sq. ft. integrated into the office district, the overall retail portfolio will approach 4 million sq. ft., making it one of India's largest retail-led commercial developments.

Unlike conventional malls, the project has been designed as a walkable urban district.

Its centrepiece will be World St., a 260,000-sq.-ft. pedestrian boulevard stretching nearly half a kilometre and lined with international brands, restaurants and experiential retail.

Among the key attractions will be India's first Time Out Market, occupying around 24,500 sq. ft. and bringing together 11 curated food concepts. The project will also include family entertainment centres, immersive attractions and a multi-level Olive Garden restaurant.

Bharti Real Estate is also developing The Haute District, a dedicated luxury retail destination expected to open in 2028.

To support the development, the company is building an underground parking network capable of accommodating more than 8,000 vehicles. Structural work on the retail component is nearing completion, with retailer fit-outs scheduled during 2026 and commercial operations expected to begin in late 2027.

Expansion pipeline and monetisation

Beyond the current phase, Bharti Real Estate has already completed planning for Worldmark 3.0, with construction underway on another 5 million sq. ft. of mixed-use development. A further 5 million sq. ft. under Worldmark 4.0 will complete the Global Business District.

Collectively, the Worldmark portfolio represents investments of nearly $2.5 billion.

The company is also exploring expansion opportunities beyond Delhi as interest in the Worldmark model grows. However, Sayal said Bharti Realty would remain selective.

"There is no fixed expansion model," he said. "We prefer projects where land titles and approvals are already in place. We are not land bankers, and we are not interested in speculative development."

As the portfolio scales up, Bharti Real Estate is evaluating multiple monetisation options, including strategic partnerships, private equity investments and, eventually, the possibility of launching a real estate investment trust (REIT). However, Sayal said the company's focus will continue to be on creating high-quality commercial developments rather than pursuing financial engineering.