Mumbai, Aug 7 (IANS) Chief Minister Devendra Fadnavis on Friday said that the Mumbai Metropolitan Region (MMR) is set to undergo a major transformation into a world-class urban hub, with international strategic partnerships giving a major push to the development of ‘Third Mumbai’ (Mumbai 3.0).
Highlighting a report by NITI Aayog that projects the MMR to become a $1.5 trillion economy, he affirmed the state’s commitment to planned, sustainable, and global-standard urban development through international collaborations.
He made this announcement following the signing of Memoranda of Understanding (MoUs) between the Mumbai Metropolitan Region Development Authority (MMRDA), Singapore-based Temasek Holdings, Mapletree, and Surbana Jurong.
Under MoU with the Raigad Pen Growth Center Limited (RPGCL), Singapore’s Mapletree will invest over $1.1 billion in Foreign Direct Investment (FDI) to develop a 100-acre world-class mixed-use project within the Raigad-Pen Growth Center.
Surbana Jurong, which has already prepared the vision, master, and infrastructure plans for the Raigad-Pen Growth Center, has been officially appointed as the Project Management Consultant. The firm will oversee execution, engineering design, quality control, and compliance, said the government release.
Expanding on agreements initially initiated during the World Economic Forum in Davos, a comprehensive master plan covering 324 square kilometers will guide the development of Third Mumbai. The blueprint encompasses land use, transit networks, housing, industrial corridors, and civic infrastructure.
Speaking at the event, CM Fadnavis highlighted that major connectivity projects—including the Navi Mumbai International Airport and the Atal Setu—are acting as catalysts for growth across the Raigad belt.
“The MMR strategy is translating from planning into ground reality. With physical infrastructure work actively underway, global investors are demonstrating immense confidence in Maharashtra,” CM Fadnavis stated. “Singapore’s extensive experience in master planning and urban development will significantly benefit the state,” he added.
The Chief Minister added that the state’s long-term vision is to integrate the Navi Mumbai International Airport, Atal Setu, and the Raigad-Pen Growth Center into a seamless ecosystem that will eventually give rise to Third Mumbai (Mumbai 3.0) and Fourth Mumbai, driving job creation, industrial expansion, and modern urban living.
The collaboration between MMRDA and global institutional partners marks a landmark shift toward Public-Private Partnerships (PPP) in state infrastructure development. By bringing in international investment, advanced technology, and urban planning expertise, the state aims to ensure rapid project delivery and long-term economic value, said the release.
–IANS
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