A multi-year Memorandum of Understanding (MoU) was recently signed between Berkshire Hathaway HomeServices Orenda India and the Government of Maharashtra at the ongoing World Economic Forum Annual Meeting in Davos, Switzerland. Berkshire Hathaway HomeServices Orenda India is a division of one of the fastest-growing conglomerates in the world that specialises in urban infrastructure among other things. With this new partnership the company and the State Government will create and manage assets for physical and social infrastructure on a 1,000-acre plot of land in Raigad, adjacent to the planned Navi Mumbai international airport.
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A multi-year Memorandum of Understanding (MoU) was recently signed between Berkshire Hathaway HomeServices Orenda India and the Government of Maharashtra at the ongoing World Economic Forum Annual Meeting in Davos, Switzerland. Berkshire Hathaway HomeServices Orenda India is a division of one of the fastest-growing conglomerates in the world that specialises in urban infrastructure among other things. With this new partnership the company and the State Government will create and manage assets for physical and social infrastructure on a 1,000-acre plot of land in Raigad, adjacent to the planned Navi Mumbai international airport.
In accordance with the terms of the agreement the company will contribute to the creation of a whole ecosystem for business, housing and residential growth while the government will grant access to the property and help with the application process for various licenses and permissions. The partnership which was formed as a joint venture between the state government and the Mumbai Metropolitan Region Development Authority (MMRDA) will make it easier to establish industrial clusters, warehousing and distribution hubs, entertainment hubs, data centres and information technology parks for IT/ITES/BPO/KPO services.
In addition, a knowledge management system will be created that would exchange best operational practises and provide news on emerging trends in various sectoral services and aid in setting up promotional roadshows and conferences. The company will also be in charge of making use of its network and luring business service delegations to contribute to the project.
In an interview captured by Realty+ Magazine, Shrey Aeren, managing director and country head for Berkshire Hathaway HomeServices Orenda India said, “We are happy that our relationship with the Government will help produce an environment that is favourable to industrial development, residential establishments, and industries flourishing. We are proud to assist the government's efforts to build cutting-edge facilities that will help Navi Mumbai's objectives to grow an independent economy. Navi Mumbai is fast becoming an important part of Maharashtra's success story.”
This partnership is anticipated to bring in a sizable amount of foreign direct investment which will in turn open up new job prospects for young people. The company will carry out this project in close coordination with the state government apparatus and the industries agency MMRDA using its recently opened office at St. Regis in Mumbai as its operational base.
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