Berkshire Hathaway HomeServices Orenda India, part of one of the world’s fastest-growing conglomerates specialized in urban infrastructure among others, recently signed a multi-year Memorandum of Understanding (MoU) with the Government of Maharashtra at the ongoing World Economic Forum Annual Meeting in Davos, Switzerland.
With this new collaboration, the firm and the State Government will develop and operate physical and social infrastructure assets on a 1,000-acre land parcel in Raigad, close to the upcoming international airport in Navi Mumbai.
As part of this agreement, the firm will help develop a complete ecosystem for industrial, commercial, and residential development, while the Government will provide access to land as well as assistance in obtaining various permits and licenses. The collaboration, which is a joint venture between the Mumbai Metropolitan Region Development Authority (MMRDA) on behalf of the state government, will facilitate the creation of industrial clusters, warehousing and distribution hubs, entertainment hubs, data centres, and information technology parks for IT/ITES/BPO/KPO services.
Apart from this, a knowledge management system will also be developed that will share best operational practices, offer information on trends in multiple sectoral services, and provide assistance in organizing promotional conferences and roadshows. The firm will also be responsible for leveraging its network and attracting business service delegations to invest in the project.
Commenting on the occasion, Shrey Aeren, Managing Director & Country Head, Berkshire Hathaway HomeServices Orenda India, said “We are thrilled that our partnership with the Government will help create a conducive ecosystem for industrial development, residential establishments, and industries to prosper. Navi Mumbai is becoming a key cog in Maharashtra’s success story and we are honoured to support the Government’s efforts to develop state-of-the-art facilities that will provide a boost to the satellite city’s ambitions towards becoming a self-reliant economy.”
This collaboration is expected to attract significant foreign direct investment into the state which, in turn, will create new job opportunities for the youth. The firm will be using its newly launched office at St.Regis in Mumbai as its operational base, working closely with the industries department MMRDA and the state government apparatus in executing this project.
