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Rebidding likely for AI building

DNMUM429749 | 1/11/2019 | Author : Ateeq Shaikh | WC :422



Mumbai: The iconic Air India building in Mumbai will undergo a bidding process once again. Low response from the “interested” players is forcing the beleaguered airline to go for rebidding.
For the last few months, the national carrier has been preparing plans and holding talks with interested parties to sell the 23-storey building at the Queen’s Necklace in Nariman Point business district. The first round of bidding took place last month.
Sale of the leasehold rights of the land and the building is part of the airline’s plan to monetise its the real estate assets.
“December 31 was the last date to submit quotes and we received only one bid, which was from Life Insurance Corporation (LIC). As only one bid was received,
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