Maharashtra Chief Minister Devendra Fadnavis on Wednesday announced that the state government will develop the Raigad-Pen Growth Centre as the first city in the state’s proposed ‘Third Mumbai’. The Raigad-Pen Growth Centre is set to emerge as a major business district, drawing inspiration from the design and commercial model of Mumbai’s Bandra-Kurla Complex (BKC).

The chief minister made the announcement in Davos, Switzerland, where he is attending the World Economic Forum.

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Raigad-Pen Centre Will Be First City In Third Mumbai: Maharashtra CM

- The Raigad-Pen Growth Centre, located 15-20 km from the newly inaugurated Navi Mumbai International Airport, was announced by Maharashtra Chief Minister Devendra Fadnavis on Wednesday as the first city in the proposed ‘Third Mumbai.

- After three to four years of obtaining necessary approvals, the project is now set to move forward, with the Atal Setu facilitating seamless access to the centre.

- According to a News18 report, the city will be developed on a “plug and play" and “ready-to-start" model, allowing stakeholders to begin operations immediately.

- The centre will host global capability centres, fintech hubs, and high-quality employment opportunities within a walk-to-work urban design.

- The business district will be developed Public-Private Partnership (PPP) model, bringing together the state government, MMRDA, and private partners.

- The project will be backed by international investors, including Havanna Group (South Korea), SSB Group (Switzerland), FedEx (USA), RiverRecycle (Finland), MGSA (Dubai), Mapletree/Spaces Holding (Singapore), and Tribeca Developers (USA), the News18 report added.

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Everything You Need To Know About Third Mumbai

- The proposed Third Mumbai is envisioned to be three times larger than present-day Mumbai and will be designed to emerge as India’s new business capital.

- The Mumbai Metropolitan Region Development Authority (MMRDA) will act as the nodal agency for the project, while the New Town Development Authority (NTDA) will manage planning, land use, and policy coordination.

- The Third Mumbai will feature an Edu City, hosting as many as 12 international universities to serve over 100,000 students, News18 reported.

- It will also feature a Medic City, Innovation City, and specialised Knowledge and Cybersecurity Hubs focusing on AI and quantum computing research.

- The plan also includes dedicated zones for data centres, multinational corporations, and corporate offices, making it a major hub for global business, education and healthcare.

- The Third Mumbai will be connected to the current city of Mumbai via the Coastal Road, Atal Setu (MTHL), and Worli-Sewri Link Road.