Billionaire Adani Leads Race to Remodel World’s Biggest Slum
- Adani bid $620 million to redevelop Dharavi, beating DLF
- Dharavi sandwiched between Mumbai financial district, airport
The Dharavi area of Mumbai, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Adani Group, controlled by Indian billionaire Gautam Adani, is the highest bidder in an ambitious project to remodel the world’s largest slum.
Adani bid 50.7 billion rupees ($620 million) while closest rival DLF Ltd. quoted 20.25 billion rupees, SVR Srinivas, metropolitan commissioner at the Mumbai Metropolitan Region Development Authority, said by phone. The Dharavi slum is spread over roughly 620 acres and is sandwiched between the city’s new financial district and its main airport, though it’s as yet unclear how much land the winning bidder could acquire.