SRFDCL gets single bidder for Destination Entertainment Hub on Sabarmati Riverfront

Sabarmati: The proposed ‘Destination Entertainment Hub’ on Sabarmati Riverfront faces a setback, with only one company, Imagicaa, submitting a proposal and no international players expressing interest in the project.

The Sabarmati Riverfront Development Corporation Limited (SRFDCL) is in a dilemma about accepting the sole proposal, considering concerns about transparency and competition. The competition from GIFT City in Gandhinagar, planning a similar entertainment zone, adds to the challenges.

SRFDCL had identified a 45,000 sq m plot on the eastern stretch, situated between Atal Bridge and Ellis Bridge, to draw in day-trippers with a lively entertainment hub. In November 2023, SRFDCL issued a tender with a minimum annual rent of Rs 45.60 lakh and a 30-year lease, seeking detailed proposals, design layouts, and plans requiring a minimum investment of Rs 75 crore. Later even with an extension of the deadline and relaxation of minimum investment criteria, only Imagicaa submitted a formal bid by January 16. DeshGujarat