The MoUs aim to transform MMR into a technology-driven, sustainable global economic hub, creating approximately 9.6 lakh direct and indirect jobs across multiple sectors.
The MoUs were inked in the presence of Maharashtra CM Devendra Fadnavis. PIC/MMRDA
The Mumbai Metropolitan Region Development Authority (MMRDA) marked a historic milestone at the World Economic Forum Annual Summit 2026, securing 96 billion dollars (Rs 8,73,600 crore) in investment commitments on day one through the signing of 10 memorandum of understanding (MoUs). The agreements, signed by MMRDA Metropolitan Commissioner Dr Sanjay Mukherjee, were inked in the presence of Maharashtra Chief Minister Devendra Fadnavis.
The MoUs aim to transform MMR into a technology-driven, sustainable global economic hub, creating approximately 9.6 lakh direct and indirect jobs across multiple sectors.
Davos Summit 2026: Key MoUs and investments
SBG Group – USD 45 billion (Rs 4,09,500 crore)
Development of integrated logistics, industrial, and hyperscale data parks across MMR.
Focus on multimodal logistics facilities, warehousing, e-commerce hubs, cold-chain, manufacturing, and digital infrastructure.
Expected to generate 4.5 lakh jobs.
Panchshil Realty – USD 25 billion (Rs 2,27,500 crore)
Multi-sector development including fintech hubs, integrated townships, industrial and logistics clusters.
Projected to generate 2.5 lakh jobs in information technology (IT)/ IT-enabled services (ITES), banking, financial services, and insurance (BFSI), construction, and supply chain sectors.
K Raheja Corp Pvt Ltd – USD 10 billion (Rs 91,000 crore)
Development of “Innovation Cities” including industrial and business parks, fintech/insurtech hubs, and the Mumbai Outdoor Sports, Gaming and AI Innovation City (MOSAIC).
Expected to create 1 lakh jobs across construction, digital infrastructure, and corporate services.
IISM Global – USD 8 billion (Rs 72,800 crore)
Establishment of a world-class sports city and Skill-Tech University to enhance sports education, research, and athlete development.
Will generate 80,000 jobs in sports management, research, events, tourism, and allied services.
Sumitomo Realty & Development – USD 8 billion (Rs 72,800 crore)
Creation of a high-street district integrating retail, lifestyle, corporate offices, BFSI hubs, hospitality, and smart infrastructure.
Expected to generate 80,000 jobs.
University of California, Berkeley – Strategic partnership (5 years)
Focus on AI, data analytics, clean technology, circular economy, entrepreneurship, and capacity building.
Will strengthen MMR’s innovation ecosystem and human capital development.
Japan International Cooperation Agency (JICA)
Development of a unified, interoperable digital architecture for multimodal urban mobility.
Integration of transport systems, data-driven planning, commuter experience, climate resilience, and digital governance.
Sembcorp Development Ltd., Singapore
Development of industrial corridors including Kharbav, Palghar, Raigad, and other strategic locations.
Emphasis on sustainable utilities, low-carbon industrial ecosystems, and long-term FDI.
Technical University of Munich (TUM), Germany
Academic and technical collaboration on climate-resilient land-use, low-emission mobility, multimodal networks, and transit-oriented development.
Knowledge exchange for urban planning, capacity building, and pilot initiatives.
Urban Futures Collective, London
Collaboration with global research institutions (MIT Media Lab, TU Delft, UCL, etc.) on geospatial modelling, digital twin frameworks, climate-adaptive infrastructure, and scenario-based governance.
Aims to enhance liveability, resilience, and technology-enabled urban planning in MMR.
Speaking about the MOUs signed on Day 1, Fadnavis said, "The historic USD 96 billion in investments on day one reflects global investors’ faith in Maharashtra. These 10 MoUs are not just financial agreements; they are blueprints for Mumbai 3.0 and key to accelerating our march towards the USD 1 trillion economy milestone."
Deputy Chief Minister Eknath Shinde, who is also the MMRDA Chairman, said that the MoUs will transform Thane, Mumbai, Kalyan, and their surrounding regions into a global hub of sustainable infrastructure, innovation, and industrial growth, generating over 9.6 lakh jobs across sectors including AI, sports medicine, and net-zero development.
Dr Mukherjee stated, "From the FinTech Hub at Wadala to MOSAIC and advanced sports and innovation hubs, we are deploying a comprehensive Urban Tech Stack supported by digital twins. This transformation will make Mumbai the talent capital of India and Asia while driving sustainable development and improving quality of life for millions."
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
