As GIFT City gains traction, real estate developers plan more projects

As GIFT City gains traction, real estate developers plan more projects

Shivalik Group to build two residential and two commercial projects in GIFT City, says Taral Shah, MD, Shivalik Group.

Ahmedabad: The Gujarat International Finance Tec-City (GIFT City), home to the country’s first and only International Financial Services Centre (IFSC), is set to emerge as the new realty hotspot in the twin city of Ahmedabad and Gandhinagar. With many national and international financial services firms having established their presence in GIFT City and more expected to do so in the coming times, real estate developers are planning a slew of residential projects in GIFT City.

Leading the pack is Shivalik Projects, which plans to build two residential projects in GIFT City, followed by two commercial projects. The planning of the first residential project has already begun. 

“GIFT City has emerged as an investment magnet in the past few years and is home to leading financial institutions. We believe GIFT City will continue to see a lot of traction in 2022 and the years to come and will see many more financial firms establishing their presence there. As a leading real estate developer, Shivalik is committed to being a part of Gujarat and GIFT City’s growth story and is working on multiple projects there,” said Taral Shah, Managing Director, Shivalik Group.

GIFT City, the first operational smart city in India, is fast emerging as a preferred financial and IT services hub and is poised to compete with the likes of global financial hubs like Dubai, Hong Kong, and Singapore in the coming years. It has attracted a large number of national and international banks, insurance companies, financial firms, stock exchanges, and broking houses in recent years, giving a massive boost to real estate demand both within and outside GIFT City. GIFT City, which is now wholly owned by the state government, is also home to some of the tallest towers in the whole state and is expected to change the city’s skyline going ahead.

“More than 12,000 people are already working in GIFT City, but they are all staying outside the GIFT City as few residential units are available within its campus. Only about 500 homes are under construction, meaning there is a big scope for residential projects. Leading national developers and those from Gujarat are developing residential projects in GIFT City, and I am confident they will be of a different level altogether,” said Mr. Shah.

GIFT City also has the advantage of location, considering its proximity to Ahmedabad airport and excellent connectivity, which will be further boosted by the Metro project. Moreover, the next phase of the Sabarmati Riverfront is very close to GIFT City and will be an added attraction.

Shivalik Group is a leading real estate developer in Ahmedabad and is executing several residential, commercial, office space, and co-working projects.

For more info, visit: www.shivalikgroup.com

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