The state will redevelop the long-awaited Dharavi slum redevelopment project via a Dubai-based group, MBM, confirmed the state government. However, the latter is still not cleared about the nature of the work and they are still working on the modalities.
As per the Hindustan Times report, when Maharashtra Chief Minister Devendra Fadnavis was in Dubai over the weekend, he discussed the same with Sheikh Mohammed Bin Juma Al Maktoum, who is the chairman of the MBM Group.
The state had planned to divide the slum into five different sectors to make the redevelopment accessible for the developers but now the government has decided to combine all the five sectors into one and have a special purpose vehicle (SPV).
The MBM Group is a Dubai-based royal family office and investment-holding company that deals in strategic advisory activities as well as social and community development.
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