|
Reliance Energy and Israel In Race For City Tower |
|
|
Anil Ambani’s Reliance Energy and an Israeli construction giant are in
the race for the prestigious 100-storied tower that is to come up at
Manchirevula on the city outskirts. A consortium of Reliance Energy and Shoba
Developers of Bangalore, and the real estate wing of Israel-based Elbit Medical
Imaging submitted technical bids for the project on Monday.
Sources said
that though Elbit bid on its own, Indu Projects, a local developer, will join
it in executing the project.
In all, 10 companies including Emaar and DLF were prequalified for the bid but
only two firms submitted bids.
Andhra Pradesh Industrial Infrastructure Corporation (APIIC) managing director
B.P. Acharya said that noted architect Hafeez Contractor would evaluate the
designs submitted by the companies.
“The financial bid will be opened within a month, after the technical bids are
evaluated,” he said. APIIC had quoted Rs 6 crores per acre as the upset bid
price for the 76 acres. The big tower would be developed in 30 acres in the
first phase. It is estimated that about 20 lakh square feet built up area would
be made available in the first phase of which the tower will have 10-12 lakh sq
ft. Each floor is likely to have 15,000 sq ft. The bidders have proposed that a
few more towers with 20 to 30 floors should be built around the big tower. Mr
Acharya said that there were no restrictions on the use of space. “It can be
utilised for IT, non-IT or even for hotels,” he pointed out.
However, trade circles view the whole bid with scepticism and point out that
the two companies were in it only for the name and fame. “Each wants to be
known as the company which built the tallest tower,” said a developer.
“Commercial viability is secondary.” Minimum construction cost for the tower
would be Rs 7,000 per sq ft. “The sale price should at least be Rs 10,000 per
sq ft if the project is to become viable,” said a developer. “This may not be
feasible.”
SOURCES:
Deccan Chronicle
|
