New Delhi Railway Station Redevelopment: The Rail Land Development Authority (RLDA), is planning to conduct virtual roadshows on the redevelopment project of the New Delhi railway station. The roadshows will be organized online from January 14-19, 2021 with investors and developers from various countries such as Singapore, Australia, Dubai, and Spain, to discuss the project concept and the proposed transaction structure with the potential bidders. The objective of the initiative is to engage with relevant stakeholders such as leading international real estate developers, infrastructure players, as well as financial institutions from Europe, Australia, and South Asia.
The Rail Land Development Development Authority, a statutory body under the Ministry of Railways, is undertaking the redevelopment of the New Delhi railway station on the basis of public-private partnership (PPP) mode. The organisation is responsible for the development and redevelopment of railway assets. In September 2020, the pre-bid meeting for the project was organized that saw participation from major private players such as Adani, GMR, JKB Infra, Arabian Construction Company, and Anchorage.
According to Rail Land Development Authority, the New Delhi station redevelopment project is expected to incur a capital expenditure of around $ 680 million. The station is located near Connaught Place, the national capital’s prime commercial hub. It is connected to the Indira Gandhi International (IGI) airport through the Delhi Metro airport express line and to the national capital region (NCR) through Delhi Metro yellow line. The station redevelopment project will be developed on the design-build finance operate transfer (DBFOT) model for a concession period of 60 years.
The redevelopment project offers multiple revenue streams to the developer, including revenue from real estate rights, and is slated to be completed in around four years. The project is currently at the Request for Qualification (RFQ) stage with the due date of February 2, 2021.