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SOBHA Group founder pledges Rs1,000 crore as philanthropic contribution towards development of Sabarmati Riverfront in Ahmedabad

A MoU was signed in the presence of Bhupendrabhai Patel, chief minister of Gujarat, solidifying their commitment to transform the riverfront

Published: Wed 4 Oct 2023, 12:26 PM

Updated: Wed 4 Oct 2023, 12:45 PM

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From left: IK Patel, ED — SRFDCL; Jyotsna Hegde, director, Sobha; PNC Menon, founder and chairman, Sobha; Bhupendrabhai Patel, CM Gujarat; K Kailasnathan, chief advisor to CM Gujarat; Raj Kumar, chief secretary Gujarat; Pankaj Joshi, additional chief secretary to CM Gujarat; Ashwini Kumar, principal secretary, Urban Development, and M Thennarasan, MD — SRFDCL, at the signing ceremony. — supplied photo

From left: IK Patel, ED — SRFDCL; Jyotsna Hegde, director, Sobha; PNC Menon, founder and chairman, Sobha; Bhupendrabhai Patel, CM Gujarat; K Kailasnathan, chief advisor to CM Gujarat; Raj Kumar, chief secretary Gujarat; Pankaj Joshi, additional chief secretary to CM Gujarat; Ashwini Kumar, principal secretary, Urban Development, and M Thennarasan, MD — SRFDCL, at the signing ceremony. — supplied photo

In a significant move towards sustainable urban development and community empowerment, the Gujarat state government has joined forces with philanthropist and visionary, PNC Menon, founder and chairman of Sobha Group, to embark on the third phase of the Sabarmati Riverfront project. A Memorandum of Understanding (MoU) was signed in the presence of Bhupendrabhai Patel, chief minister of Gujarat, solidifying their commitment to transform the riverfront.

Menon’s philanthropic commitment of Rs1,000 crore over the next five years towards Sabarmati Riverfront development, is in line with his earlier commitment to donate 50 per cent of his personal wealth to causes that help communities and foster all round development and progress in the country, reflecting his continued and unwavering dedication to giving back to the community.

Menon said: "It has been my dream to be a part of a riverfront development project. My philanthropic contribution to the Sabarmati Riverfront Project is a testament towards realising my dream. By partnering with the Gujarat state government, Sobha aims to not only preserve the environment and improve the well-being of the people it serves, but also enhance the riverfront's aesthetics."

In May 1997, the Ahmedabad Municipal Corporation (AMC) formed a Special Purpose Vehicle (SPV) – the Sabarmati Riverfront Development Corporation Limited (SRFDCL). The SRFDCL was entrusted with the responsibility of turning the Riverfront into a major urban asset for the city. A prominent feature of this project is the creation of two-tiered, uninterrupted promenades stretching along both banks of the river. These 11.5 kilometers long promenades are designed to cater to pedestrians and cyclists, offering easy access to the water, and hosting an array of public amenities at the city level. These include charming parks and gardens, scenic riverside walkways, the Atal Bridge, a Biodiversity Park, cutting-edge sports facilities, and an event center, among others.

The Sabarmati Riverfront Corporation Ltd approved the conceptual planning and design for Phase 2 in October 2020. This phase involves extending the existing 11.5km stretch of Riverfront East by 5.8km up to the Indira Bridge, and adding another 5.2km to the existing 11.5km stretch of Riverfront West, also up to the Indira Bridge.

The Phase-3 of the riverfront development would be done as a collaboration between SOBHA Realty Dubai and the Gujarat state government symbolising a shared vision to create sustainable, inclusive, and vibrant urban spaces that uplift communities and foster economic growth. The 4.5km stretch in Phase 3, on each side of the riverfront, would be developed aesthetically, thereby transforming an additional stretch of the Sabarmati riverfront.



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