Navi Mumbai's 120-Acre Corporate Park Aims to Rival BKC's Success
A new 120-acre International Corporate Park (ICP) is set to rise in Kharghar, Navi Mumbai. The City and Industrial Development Corporation (CIDCO) has opened bids for the project, which aims to mirror the success of the Bandra Kurla Complex (BKC). Officials believe it will attract major investments and create jobs in the region.
The project will operate under a 20-year Construction and Development Operator (CDO) agreement. CIDCO will select the developer through the H1 method, awarding the bid to the firm offering the highest gross revenue share. Interested parties can access tender documents on the Maharashtra government's e-tendering portal from March 5, with a fee of Rs 2 lakh (excluding 18% GST).
The ICP is designed to boost Navi Mumbai's status as a global business hub. Like BKC, it will host corporate offices, commercial spaces, and supporting infrastructure. The initiative follows recent public-private partnerships in the region, such as the Mumbai Metro Line 3 (Aqua Line) and the Mumbai Trans Harbour Link (Atal Setu), both completed in the last five years to improve connectivity and economic activity. CIDCO expects the park to drive economic growth by attracting multinational companies and local enterprises. The development aligns with broader efforts to expand Navi Mumbai's infrastructure and business appeal.
The tender process is now underway, with documents available online. Successful completion of the project could transform Kharghar into a key business district. The initiative also reinforces the region's strategy of using public-private partnerships to accelerate development.
