December 14, 2015

Phase II of GIFT City launched

GIFT City has launched the Phase 2 development which will focus on International Financial Services Centre (IFSC) in GIFT SEZ. With this announcement, GIFT City has now invited proposals for developing office towers in the SEZ area as well as the non-SEZ area.

Phase II launched on the back of success in Phase I

GIFT Phase I had seen keen interest from BFSI and IT majors as also from real estate developers. Phase I has already seen allotment of more than 14 million BUA in the SEZ and non-SEZ area. The allotment is towards office towers, residence and social facilities which will be developed and will entail an estimated investment by the developers of above 9,600 crores.

On the occasion of the launch Ajay Pandey, MD and Group CEO GIFT Co. Ltd., stated that the response by the companies in the IT, BFSI and Realty segment towards the development of Phase I was on the expected lines. He expects the 2nd phase to generate greater interest both from Indian and global companies and hopes that the companies will show keen interest in the IFSC project in the SEZ area.





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