Construction Industry News
The Rs 200 billion reconstruction project in Dharavi has received proposals from some of the top real estate companies, including Adani Group, Delhi's DLF Group and the city's Naman Group, raising expectations that Asia's largest slum is finally getting an upgrade.
According to SVR Srinivas, CEO, Dharavi Redevelopment Authority, the project has received three bids after the government changed the terms to promote competition, unlike 2016 when no bids were submitted despite five extensions and in 2018 when only two proposals were received .
On November 15, the last day for submission, only three proposals were submitted, despite eight companies, including one from South Korea and the UAE, attending the October 11 pre-bid conference. Whether all three companies have technical partners is not known. Dharavi's tender terms, unlike previous terms, allow only two partners in a consortium: the lead partner, who must have a higher financial capacity, and the technical partner, who must have construction experience.
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