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The Maharashtra government has signed agreements with Singapore-based Mapletree and Surbana Jurong to speed up the development of Mumbai 3.0. Mapletree will develop a 100-acre mixed-use project at the Raigad-Pen Growth Centre, with the state expecting the project to attract more than USD 1.1 billion in foreign direct investment. Surbana Jurong has been appointed as the project management consultant for the growth centre. The government is also preparing an integrated master plan for Mumbai 3.0, covering 324 square kilometres and including land use, transport, housing, commercial and industrial zones and civic infrastructure.
The Maharashtra government has signed agreements with Singapore-based firms Mapletree and Surbana Jurong to accelerate the development of the proposed Mumbai 3.0 region, including a 100-acre mixed-use project at the Raigad-Pen Growth Centre that is expected to attract more than USD 1.1 billion in foreign direct investment.
The memoranda of understanding were signed between the Mumbai Metropolitan Region Development Authority (MMRDA), Raigad-Pen Growth Centre Ltd (RPGCL), Mapletree and Temasek-owned Surbana Jurong in the presence of Chief Minister Devendra Fadnavis, according to an official release.
Fadnavis said the international partnerships would support the development of Third Mumbai and strengthen Maharashtra's position as an investment destination. He also noted that the Mumbai Metropolitan Region has the potential to become a major global economic hub, with NITI Aayog estimating that the region could support a USD 1.5 trillion economy.
Under the agreement, Mapletree will develop a 100-acre mixed-use project in the Raigad-Pen Growth Centre. The Singapore-based company will invest capital in the development and work towards attracting global investors and multinational companies. The state expects the project to bring in more than USD 1.1 billion in FDI.
In a separate agreement, RPGCL appointed Surbana Jurong as the project management consultant for the Raigad-Pen Growth Centre. The company has already prepared the project's vision plan, master plan and infrastructure plan and will oversee implementation, including design reviews, engineering approvals, quality monitoring, certification of work progress and compliance with contractual requirements.
The government is also preparing an integrated master plan for Mumbai 3.0 spread across 324 square kilometres. It will cover land use, transport networks, housing, industrial and commercial zones, social infrastructure and civic amenities.
The Raigad-Pen Growth Centre itself spans 1,217.71 acres across five clusters and 16 villages in Pen taluka. According to MMRDA, the site is around 25 km from Panvel and 30 km from the Navi Mumbai International Airport, with access to nearby ports and railway stations. The growth centre is being planned as a self-sustained urban development with residential, commercial, logistics, technology and social infrastructure.
MMRDA had formed RPGCL as a special purpose vehicle in 2023 for the development of the growth centre. The authority has also been inviting global investors to participate in the project, while the master plan prepared by Surbana Jurong is under review.
Fadnavis said the expansion of the Mumbai Metropolitan Region could eventually lead to the emergence of Third Mumbai and Fourth Mumbai, creating an integrated economic ecosystem around the Navi Mumbai International Airport, Atal Setu, the Raigad-Pen Growth Centre and other planned development nodes.
Source PTI
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