Dubai-based MBM Group, Mumbai government join hands for Dharavi project

The Maharashtra government has joined hands with Dubai based multinational companies for redevelopment of Asia’s biggest slum Dharavi along with other infrastructure projects in Mumbai. (Representational Image)

The Dubai-based MBM Group has agreed to partner with the Maharashtra government for the redevelopment of Asia’s biggest slum Dharavi along with other infrastructure projects in Mumbai, while the DP World Group has agreed for collaborations in logistic parks and the Thumbay Group has shown interest in healthcare projects.

Chief Minister Devendra Fadnavis on Saturday held meetings with the three groups in Dubai. The visit was part of a tour by Fadnavis to attract foreign investment. It will be followed by a series of meetings and deliberations with companies based in the United States and Canada.

Investment and growth through the foreign partnership are being explored in core sectors including agriculture, infrastructure and information and technology.

The official statement issued by the state government said, “After leaving Mumbai, the Fadnavis delegation halted at Dubai which was the first phase of the investment drive. Indian Ambassador Navdeep Suri welcomed the chief minister. It was followed by a meeting with DP World Group’s chairman and chief executive officer (CEO) Sultan Ahmed bin Sulayem.

A senior officer, who is part of the delegation, said, “DP World expressed desire to work with the state government for building logistic parks. The group has shown enthusiasm to work in the logistic parks sector in Nagpur in Vidarbha region of Maharashtra.”

DP World is a leading global investment company.

In the evening, Fadnavis met with MBM Group chairman Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum who agreed to work with the state government on the redevelopment of Dharavi along with related infrastructure projects in Mumbai.

The redevelopment of the Dharavi slums spread across 178 hectares is amongst mega projects high on the Mumbai makeover plan undertaken by the state government. Although official data shows that Dharavi is divided into five sectors having 60,000 houses, unofficially, the number is pegged at 1.10 lakh.

A senior secretary in the housing department said, “Despite repeated efforts, various development models mooted with domestic investors have not elicited desired response. The low response for the Rs 25,000-crore project has led the government to explore overseas investors to take up the project to provide decent houses to slum dwellers….”

Sources pointed out that MBM is a Dubai-based Royal family office and investment holding company. Its leadership and thrust areas are diverse including real estate, oil and gas services to the strategic adviser in sports, education and healthcare.

The third meeting was between Fadnavis and Thumbay Group president Thumbay Moideen. The company, which is among the 100 leading groups in the Middle East, specialises in 13 diverse fields and has established itself in the field of healthcare and education. It agreed to work with the Maharashtra government in public healthcare projects.