Feb 2, 2016

Construction starts at WTC Towers of GIFT City

Construction of the World Trade Center (WTC) tower at GIFT City has been started by Viridian RED. Viridian RED is part of the Viridian Groupand is into the real estate development.

As per the official spokesperson, Prashant Tripathi, WTC Tower 1 is expected to be ready for occupants in the next 2 years.

WTC Gift City has been allotted 1mn.sq. ft. at GIFT and the company will be investingapproximately Rs. 600 crores to develop the area in the next couple of years.

As part of its construction activity of the WTC tower, Viridian RED recently casted the biggest raft foundations ever in GIFT City. 

Raft foundation is a thick concrete slab. The slab is reinforced with steel which will cover the complete contact area of the structure and would look resemble a thick floor.

The work on the raft foundation at the site will be completed in next few months.

Mr. Tripathi said that GIFT City is the ideal location for WTC's entry into Gujarat due to the fact that GIFT City is fast emerging and developing as India's global financial hub.

The construction work has begun after the Company received the necessary permissions. Construction is currently progressing at full swing and the Company expects that the first tower will be ready for occupants in a couple of years’ time. The Company has erected 1100 tons of steel & casted more than 5000 cubic meters of concretefor laying of the current foundation.


GIFT City will cater to the potentially large India's financial services sector. It will offer world-class infrastructure and facilities and will be a globally benchmarked IFSC. GIFT City is a JV between Gujarat Government and ILFS.




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