Sabarmati Riverfront update

The Sabarmati Riverfront Development Corporation (SRFDCL) will soon invite global bids for the 15 per cent reclaimed land reserved for commercial purposes within six months, according to urban development department officials. SRFDCL had earlier submitted a detailed report few weeks ago to the department for marketing purposes ahead of the Vibrant Gujarat 2011 global investors summit. “At least three sample stretches are being readied for the purpose on the riverfront. We would like to show our investors how the project would shape up with sample gardens and landscaping,” says a senior SRFDCL official.
A team of urban development department is already planning visits to Europe and other potential investor areas in the coming weeks. “We have just 15 per cent left of 32 hectare of reclaimed land that was originally reserved for commercial purposes. We want the best names to come and invest on the riverfront. The skyline on the riverfront is still open ended as we would be able to gauge through the demands of potential investors as to what they desire,” says a senior urban development department official.
This would mean bad news for local developers, who have been salivating at the thought of sinking their teeth into the juiciest bit of realty in town. Back in 2006, biggies like Unitech, DLF, Rahejas and Emaar were approached with similar proposition. It was during this time that the SRFDCL planned to invite global bids for the first time, but pulled back.
What will make the project particularly viable for global and national players is the building of skyscrapers, especially in the central business district (CBD) proposed between the Nehru Bridge and the Gandhi Bridge.