gift city (gujarat international finance tech city) _ ahmedabad city portal
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GIFT CITY (Gujarat International Finance Tech CITY)
Gujarat International Finance Tech‑City or GIFT is an under‑construction city in the Indian state of Gujarat.It will be built on 986 acres (3.99 km2) of land. Its main purpose is to provide high quality physicalinfrastructure (electricity, water, gas, district cooling, roads, telecoms and broadband), so that finance andtech firms can relocate their operations there from Mumbai, Bangalore, Gurgaon etc. where infrastructureis either inadequate or very expensive. It will have a special economic zone (SEZ), international educationzone, integrated townships, an entertainment zone, hotels, a convention center, an international technopark, Software Technology Parks of India (STPI) units, shopping malls, stock exchanges and service units.
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To develop and implement the Project, Government of Gujarat (GOG) through its undertaking GujaratUrban Development Company Limited (GUDCOL) and Infrastructure Leasing & Financial Services (IL&FS)have established a Joint Venture Company, "Gujarat International Finance Tec‑City Company Limited"(GIFTCL).
GIFTCL proposes to implement GIFT as a globally benchmarked International Finance City with aneventual built on area of 85,000,000 sq ft (7,900,000 m2). The company plans to develop, finance,implement all infrastructure in and around GIFT on a turnkey basis to ensure that all conceivable servicesin relation to connectivity, communication, technology, security, services for quality of life etc. areestablished and sustained.
Currently, two commercial towers, each of 29 floors each are under construction. They will be completedin December 2012 and January 2013, respectively, while the work on a third residential tower of 33 floorswill start soon.
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Gujarat International Finance ...Gujarat International Finance Tec-City, Gujarat 382355, India
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Centrally located in the state of Gujarat, between Ahmedabad and Gandhinagar, on the bank of riverSabarmati, having geographical coordinates 23°9’26’’N 72°41’12’’E.
Idea
The idea of GIFT was developed during the Vibrant Gujarat Global Investor Summit 2007 and isbeing planned by East China Architectural Design & Research Institute (ECADI), which isresponsible for planning much of modern day Shanghai, and Fairwood Consultants India .
Electricity
The 1000MW electricity supply is planned to be 99.999% reliable (about 5.3 minutes of outageper year). GIFT's power grid will be designed by ABB Group of Switzerland. All the electricitycables will be underground. Hong Kong Electric Company is 99.998% reliable since 1998.
Piped Gas
Natural Gas will be distributed to every house and building via pipes, which is cheaper andsafer than cylinders.Gas supply to the city will be made from the existing gas network of GSPL, the state owncompany for gas transmission pipelines. Piped natural gas is already in distribution in thenearby cities of Ahmedabad and Gandhinagar.
Communications and Telecoms
GIFT will have: an Internet Gateway, world‑class next generation IP‑based network,International Fiber Landing System.
Air Conditioning
GIFT will have a centralized AC system, called District cooling which is cheaper to run and usesless electricity.
Concept
GIFT is being designed as a hub for the global finance services industry. The Project design hasbenefited greatly from the inputs of a large number of domestic and international experts whohave had an opportunity to determine the key needs of Companies in the financial servicesspace. More particularly, connectivity, infrastructure and transportation access have beenintegrated into the design of the city. An attractive pricing strategy is also being developed toensure that it is a fraction of the cost that is ordinarily incurred in other Indian and globalfinance cities.
Its Target Business Segments are:
Financial Services Operations (Back‑office of banking, Insurance and Asset ManagementCompanies)IT services (Software Application development and maintenance)Capital Markets & TradingITeSBPO ServicesKPO Services
Location:
The site is 18 km from the Ahmedabad International Airport and 8 km from Gandhinagar and nearbyshahpur village . The site abuts a four lane National Highway (NH8) which connects Ahmedabad andGandhinagar on its eastern side. The Sabarmati river demarcates the western boundary of the Project site.
Transportation
GIFT aims at providing transportation network which ensures accessibility, easy & fastmobility and zero road accidental deaths. This would be achieved by:
1. Using a multimodal mix of Transport systems (MRTS/LRTS/BRTS, etc.) for both inter region(Ahmedabad, Airport, Gandhinagar and the City) and intra‑city.
2. Using walk‑to‑work concept as part of urban planning with a nodal split of 10:90 betweenprivate and public transport.
3. Use of electric Personnel Rapid Transport systems within the City.
In future, City will be linked with Ahmedabad BRTS, operated by Ahmedabad JanMarg Ltd.
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▼ Jun 28 (2)Ahmedabad‑GandhinagarMetro rail project (MEGA ‑M...
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Blog Archive
GIFT one, the first tower completed
GIFT Diamond Tower
GIFT Gateway Towers ‑ will be located in the main avenue of the city. It would have elaborated terracegardens and rooftop restaurant. The towers draw inspiration from Buland Darwaza. It will have a total7,300,000 square feet (680,000 m2) built up space.
GIFT Crystal Towers ‑ With a total 8,500,000 square feet (790,000 m2) built up area, four Cyrstal Towerswill overlook the Sabarmati River
GIFT Convention Centre ‑ Inspired by the structure of Salt crystals and Mahatma Gandhi's Dandi March, theconvention centre would have an opera and have a seating capacity of 10,000. The centre would have totalbuilt up are of 6,500,000 square feet (600,000 m2).
Project Phases
First Phase
As of now, two commercial towers, each of 29 floors called the GIFT one and GIFT two havebeen finished. Tendering for the next bunch of towers is going on.
Second Phase
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► 2010 (23)
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The second phase's construction of roads and bases of buildings is under full flow.
Third Phase
The third phase's planned period for construction and commencement ‑ 2013‑2017.
Consultants Engaged in GIFT
1. Design and Architecture ‑ East China Architectural Design & Research Institute (ECADI) andFairwood Consultants India.
2. ICT Advisory Services ‑ British Telecom
3. Market Demand Assessment ‑ McKinsey & Company
4. Talent Demand Assessment ‑ Hewitt Associates
5. Environmental Assessment ‑ IL&FS Ecosmart Ltd
6. Process Management ‑ IL&FS Infrastructure Development Corporation Ltd
7. ICT Management ‑ Cisco Systems International
8. Power Management ‑ ABB Group
Recent news
On Dec 15 2011, Economic Times reported that city officials in GIFT are inviting companiesfrom Singapore who wish to expand but cannot do so due to a lack of land in Singapore to opentheir businesses in GIFT. Among the investments being encouraged include investments frombanks, private equity companies, insurance companies and asset management companies.On Dec 26 2011, the Times of India reported that China's technology giant Huawei is likely toprovide technology to GIFT. According to Eric Yu, president, enterprise business, Huawei India,this technology includes networking solutions and setting up of data centers and surveillanceas well as other opportunities.
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