Reliance Realty

Reliance Realty to develop 30 million sqft Fintech Hub in Navi Mumbai

News

Reliance Realty, an independently managed real estate subsidiary of Anil Ambani’s RCom, will soon develop a 30 million sq.ft mega fintech hub at Dhirubhai Ambani Knowledge City (DAKC) in Nani Mumbai.

Just a few days back, the group has received final approvals from the Department of Information Technology, Maharashtra Govt. and Maharashtra Industrial Development Corporation (MIDC). The fintech hub will be built under the state govt. new Fintech Policy.

According to company sources, the commercial project will be built in phases, of which the 15 million sq.ft of the development has to be completed in next 10 years, as told by the Government to the officials. Once developed, the commercial space will provide employment to 2.5 lakh people and will be home to some of the leading fintech, banking, insurance, NBFC, IT and ITeS companies.

The projected capital value of the project is around Rs 14,000 crore and the location where it will be constructed has the potential to earn a rental income of around Rs 75 per sq. ft.

Situated in Kopar Khairane, Navi Mumbai, DAKC is a technology park which has been spread over 56 hectares of land. At present thousands of employees are working in this city. It also comprises of an artificial lake, bank, ATMs, temples, fountains, medical facilities, parking lot and a helipad.