Staff Report
Dubai, UAE
Mr. PNC Menon, Founder & Chairman SOBHA Group, has committed to donate Dh441 million (Indian Rs1000 crore) over the next five years towards the development of the third phase of the Sabarmati Riverfront project in Gujarat. A Memorandum of Understanding (MoU) was signed in the presence of Honorable Chief Minister of Gujarat Shri. Bhupendrabhai Patel. The MoU is Menon’s latest addition to his donations that amount to 50 percent of his personal wealth.
In May 1997, the Ahmedabad Municipal Corporation (AMC) formed a Special Purpose Vehicle (SPV) – the Sabarmati Riverfront Development Corporation Limited (SRFDCL) to transform the Riverfront into a major urban asset for the city. One of the key features of this project is a two-level, continuous 11.5 km long promenade at the water’s edge along each bank of the river. The promenade serves pedestrians and cyclists, provides access to the water, and hosts a variety of public features including Parks & Gardens, Riverside Walkways, Atal Bridge, Biodiversity Park, Sports Parks, and Event Centre.
Sabarmati Riverfront Corporation Ltd had approved concept planning and design of phase 2 in October 2020. Phase 2 of Sabarmati Riverfront Project involves 5.8 km addition to existing 11.5 km stretch of Riverfront East, upto Indira bridge, and another 5.2 km addition to existing 11.5 km stretch of Riverfront West, upto Indira bridge.
Mr. Menon said: “It has been my dream to be a part of a riverfront development project. My philanthropic contribution to the Sabarmati Riverfront Project is a testament towards realising my dream. By partnering with the Gujarat state government, Sobha aims to not only preserve the environment and improve the well-being of the people it serves, but also enhance the riverfront’s aesthetics.”
The Phase 3 of the riverfront development would be done as a collaboration between SOBHA Realty Dubai and the Gujarat state government symbolizing a shared vision to create sustainable, inclusive, and vibrant urban spaces that uplift communities and foster economic growth. The 4.5km stretch in the third phase, on each side of the riverfront, would be developed aesthetically thereby transforming an additional stretch of the Sabarmati riverfront.
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