Emmar-MGF bags CG village project
Emmar MGF bagged the contract for building the Commonwealth Games village for Rs 321 cr.
By PTI |
NEW DELHI: The Delhi Development Authority on Tuesday awarded the contract for building the Commonwealth Games village to Emmar MGF, the only company that qualified for developing the complex with a price bid of Rs 321 crore.
Emaar MGF, the joint venture between Dubai-based Emaar Properties and India's MGF, cleared its last hurdle today with DDA accepting its bid for the prestigious games event.
A DDA spokesperson told media that Emmar-MGF had made a financial bid of Rs 321 crores against a reserve price of Rs 300 crores.
The company's name was earlier withheld when officials cited some legal "hurdles".
"There were some legal complications in the bidding," the official said, adding they have been cleared now.
"We are pleased to win this prestigious project and to have the opportunity to develop one of the most significant real estate landmark for a global event of this stature," Emmar-MGF managing director Shravan Gupta said in a statement.
Initially 14 developers had requested for qualification and shown interests in taking up the construction of the village. But only 11 qualified, of which DLF and Emmar-MGF had submitted bids for building the village, the official said.
Last week, DLF was disqualified for not fulfilling all the criteria in the tender.
The games village is to be completed by December 31, 2009, the official added.
Emaar MGF, the joint venture between Dubai-based Emaar Properties and India's MGF, cleared its last hurdle today with DDA accepting its bid for the prestigious games event.
A DDA spokesperson told media that Emmar-MGF had made a financial bid of Rs 321 crores against a reserve price of Rs 300 crores.
The company's name was earlier withheld when officials cited some legal "hurdles".
"There were some legal complications in the bidding," the official said, adding they have been cleared now.
"We are pleased to win this prestigious project and to have the opportunity to develop one of the most significant real estate landmark for a global event of this stature," Emmar-MGF managing director Shravan Gupta said in a statement.
Initially 14 developers had requested for qualification and shown interests in taking up the construction of the village. But only 11 qualified, of which DLF and Emmar-MGF had submitted bids for building the village, the official said.
Last week, DLF was disqualified for not fulfilling all the criteria in the tender.
The games village is to be completed by December 31, 2009, the official added.
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