Mumbai's Eastern Waterfront Set for Major Commercial Transformation

Mumbai: The city's eastern waterfront is poised for a significant transformation, with plans to develop it into a hub for corporate, business, trade, and IT parks, alongside state-of-the-art warehouses and godowns. The Mumbai Port Authority (MbPA) has announced its intention to lease out 28 plots, totaling over 217 acres, located near the sea on the east coast of Mumbai and Raigad district, for a period of 30 years. The initiative is expected to generate an annual revenue of Rs 814 crore for the port authority.

These plots are situated in strategic locations such as Wadala, Sewri, Reay Road, P'Dmello Road, Colaba, Fort, Mazgaon, Sasson Dock, Mallet Bunder, and near Thal beach in Alibaug. According to the notice issued by the port authority, MbPA owns a significant stretch of the coastal belt, spanning nearly 28 kilometers from the Colaba end to Wadala. The development plan also includes provisions for tourism, recreation, and entertainment facilities, such as a marina, amphitheater, and large landscapes.

However, the plan does not include residential permissions. On Monday, MbPA published an expression of interest (EOI) offering the 28 properties—27 in Mumbai and one in Thal, Raigad district. The EOI also includes MbPA-owned buildings along the city's eastern waterfront. The last date for the submission of bids is September 11.

'Nearly 70% of MbPA's cargo consists of liquid materials like chemicals and petroleum, making warehousing, godowns, and industrial and commercial activities the primary focus,' said sources. In December 2018, MbPA was appointed as the special planning authority for the development of the 966-hectare Eastern Waterfront into a world-class hub. A committee headed by then-MbPA chairperson Sanjay Bhatia had released a draft development plan for public scrutiny. The draft plan was finalized but later put on hold.

The transformation of Mumbai's eastern waterfront is expected to boost the city's economic growth and enhance its infrastructure. The development of commercial and industrial spaces will not only create job opportunities but also attract investments from various sectors. The inclusion of tourism and entertainment facilities is likely to make the area a popular destination for both residents and visitors.

MbPA's initiative is part of a broader vision to modernize and revitalize the city's waterfront areas, aligning with the government's efforts to promote sustainable urban development. The successful implementation of this plan could set a precedent for similar projects in other parts of the city and the country. The port authority is keen to ensure that the development is environmentally sustainable and benefits the local community.

The leasing of these plots represents a significant step towards achieving the vision of a modern, integrated, and economically vibrant eastern waterfront. Interested parties are encouraged to submit their proposals by the specified deadline, marking the beginning of a new chapter in Mumbai's urban development story.