Anil Ambani's RCom to develop 133-acre infotech park in Navi Mumbai

The valuation of this project, according to an HDFC Realty study, is estimated to be over Rs 250 billion, Anil Ambani said

RCom is planning to develop 133-acre infotech park Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai into 30 million sqft of commercial space as part of its asset monetisation plan. The development will result in creating an area that is equivalent to 75 Nariman Points (Mumbai's central business district) or 10 new Bandra-Kurla Complexes (Mumbai's swanky business hub), Anil Ambani said at the 14th annual general meeting. "As we have moved out of the mobile sector, we will monetise at an appropriate stage our enterprise business. Reliance Realty will be the engine of growth for us,” he said. The valuation of this project, according to an HDFC Realty study, is estimated to be over Rs 250 billion, he said. RCom plans to develop the DAKC in 10 years. Around 3 mn square feet is already ready for commercial use and will be rented starting this year, Ambani said, adding that he expected revenue accruals through it this year itself.

Apart from erstwhile RCom headquarters, DAKC currently houses several office buildings and residential blocks, hospitals, helipads, and a 250-room guest house. In November 2017, the Anil Ambani-led company had invited potential bidders for outright purchase or co-development of the land housing DAKC.