CIDCO Invites Bids For 120-Acre International Corporate Park At Kharghar, Aiming To Create Navi Mumbai's Own BKC
City and Industrial Development Corporation has invited bids to develop a 120-acre International Corporate Park at Kharghar in Navi Mumbai. Planned as a major business hub similar to Bandra Kurla Complex, the project will be executed by a private developer under a 20-year Construction and Development Operator agreement.
City and Industrial Development Corporation of Maharashtra Limited | File Image
Navi Mumbai: The City and Industrial Development Corporation of Maharashtra Limited (CIDCO) has invited bids for the development of a 120-acre International Corporate Park (ICP) at Kharghar in Navi Mumbai under the state government’s Theme-Based and Iconic City Development Policy, with plans to create a major business district on the lines of the Bandra Kurla Complex (BKC).
Holistic Development Through Public-Private Partnership
The project aims to facilitate the holistic development of the large land parcel through a Construction and Development Operator (CDO) agreement, creating an iconic, unified and integrated corporate hub. The selected private developer will undertake the construction and development of the project over a period of 20 years.
The tender, issued, will follow the H1 selection method, wherein the bidder offering the highest gross revenue share percentage in present value terms will be selected as the developer.
CIDCO Official Highlights Project's Strategic Importance
“CIDCO is taking a significant step towards strengthening Navi Mumbai’s position as a global business destination through the development of the International Corporate Park (ICP) at Kharghar. Spread across 120 acres, the project will be implemented under the State Government’s Theme-Based and Iconic City Development Policy through a Construction & Development Operator (CDO) model. Through a transparent bidding process based on the highest gross revenue share, CIDCO aims to partner with a capable developer to create a world-class corporate ecosystem, attracting investments, generating employment, and further boosting Navi Mumbai’s economic growth,” said Vijay Singhal.
CIDCO has fixed the tender document fee at Rs 2 lakh excluding 18 per cent GST. Bid documents, the bidding programme and the Theme-Based & Iconic City Development Policy are available on the Maharashtra government’s e-tendering portal from March 5.
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