GIFT (Gujarat International Fin-Tech) City, India’s first Operational Smart City and International Financial Services Centre, boasts of world class infrastructure and sustainable master planning. Located on the banks of Sabarmati river, GIFT City is an integrated development spread across 886 acres of land with 62 million sq. ft. of built-up area that includes office space, residential, schools, hospitals, hotels, clubs, retail and recreational facilities. Out of the development area, 67% is allotted for commercial development, 22% for residential development and 11% is for social facilities.
Yash Ved of NewsBarons provides you the highlights of a media interaction, where Ajay Pandey, MD & Group CEO, GIFT City informed: “GIFT city is a business platform with world class infrastructure facilities.”
NB: Brief us about GIFT city?
Ajay: The purpose of GIFT City is to create a global financial and IT hub. Our vision is unique with world class infrastructure. GIFT City is an Integrated Urban Development designed to provide a global business platform, world class infrastructure facilities, integrated residential development, great overall connectivity to airport, highways and railways with state of the art education and medical institutions. We have already attracted leading brands from BFSI, ITES and others sectors. At present, we have allotted over 15 million square feet of built up area. The total committed investment for GIFT city is INR 10,500 crore.
GIFT City will create an employment opportunities for nearly 1 million people.
NB: What are the employment opportunities in GIFT City?
Ajay: At present, there around 7500 people working in GIFT City and we expect this number to be around 9,000 by March 2018.
NB: How many companies have been allotted space in GIFT City?
Ajay: GIFT City has allotted space to various institutions like SBI, LIC, and Reliance Capital and developers such as Hiranandani Realty, Prestige Group, Brigade Group, are also developing various facilities in GIFT City.
Around eleven banks and eight insurance companies have began operations in GIFT IFSC. The company has also launched Request for Proposal for developers to bid for next phase commercial development in GIFT SEZ.