Three consortiums including international construction giants have bid for the proposed 101-storey ‘iconic tower’ at Wadala.   

The consortiums interested in developing the mega-structure include: Australian firm, Hyder Consulting Pty Ltd; Indian construction giant Essar Realty in partnership with Leighton Contractors (India) Pvt Ltd and Al Habtoor Engineering Enterprises Co of Dubai; and Reliance Infrastructure Ltd with China Building Technique Group Co Ltd.

Mumbai Metropolitan Region Development Authority (MMRDA) officials said that a committee would evaluate the Design, Build, Operate and Transfer (DBOT) model bids and winner is likely to be announced after the elections.

The tower, which would be built along with an inter-state bus terminus, would have 80 floors which will house office, recreational, academic and entertainment spaces. Five of its floors will be reserved for parking and 16 for other essential services. The project is estimated to cost around Rs 4,200 crore, and the government expects to earn an annual income of around Rs 1,800 crore by leasing the space.

The tower is expected to be 526 meters in height, which would make it the world’s third tallest structure after Burj Towers in Dubai and Freedom Tower in New York.

The MMRDA had floated the idea of the ‘iconic tower’ in the end of 2008 — in the middle of the economic slowdown— which had an effect on its bidding process. The MMRDA had to push the bid submission dates on request of the interested developers as financial tie-ups were taking time.