Good interest for developing SEZ, non-SEZ areas in GIFT city

Gujarat International Finance Tec-city (GIFT) today said national and international developers have shown interest for development of commercial and residential buildings in the GIFT city.

The company recently floated Request-for-Proposal (RFP) for development of commercial and residential buildings in GIFT-SEZ and non-SEZ areas.

At the pre-bid meeting on December 31, 2013, and thereafter, several developers visited GIFT city to explore the opportunity, it said.

GIFT city, envisaged as a financial hub, is a pet project of Gujarat Chief Minister Narendra Modi. However, it has taken some time to take off.

Developers such as Ajmera Realty, Hiranandani, Arihant Developers, Lodha, Godrej, BU Bhandari Landmarks, Sangath, Heritage, Sun Builders, Sarthak, Abhilasha Realty, BPC Projects and Backbone Projects have shown interest, officials said.
 

"To meet the growing demand for office and residential space by various financial institutions, GIFT has invited developers to develop office and residential complexes", said Ramakant Jha, Managing Director and Group CEO, GIFT City.

"GIFT has also completed most of the Phase-I infrastructure and the process of development is hassle free for developers," he added.