What’s so unique about GIFT City, Gujarat

In early 2015 when Mr. Modi, the Prime Minister of India, announced his ambitious project of developing 100 Smart Cities, he was criticized by many. Experts estimated that it would require around $20 billion to develop one Smart City, an amount impossible for the government to allocate. On the other hand, Mr. Modi was confident of what he was proposing. Well, he knew what a smart City means and how that can be developed! After all, he was one of the masterminds who conceptualized GIFT City in Gandhinagar, Gujarat.

Not only being the first entrant to the list of 100 Smart Cities, Gujarat International Finance Tec-City, or GIFT is also a role model for many. GIFT City was initially conceptualized as a Central Business District between Gandhinagar and Ahmedabad. It then soon got converted into International Finance Tec-City. It is being developed on 886 acres of land. It will provide high-quality physical infrastructure to its occupants. Services like 24 hours electricity, water, gas, district cooling, roads, telecoms and broadband would encourage finance and tech firms to establish their operations there. GIFT City will have a special economic zone, international education zone, integrated townships, an entertainment zone, hotels, a convention center, an international techno park, Software Technology Parks of India (STPI) units, shopping malls, stock exchanges and service units.

GIFT city will provide a new lease of life to the now quiet state capital, Gandhinagar, a 20-minute drive away. Eventually, there will be bus and metro service connecting GIFT City to Ahmedabad and Gandhinagar and will gradually become the focal point of all business activities.

World class office and retail complexes at GIFT City will help create more than one million direct and indirect jobs. The city will also have residential complexes which will allow employees to walk to work, and social infrastructures like a school, hospital, and malls. GIFT City’s administration plans central air-conditioning in all buildings, filtered tap water and municipal waste collection system. These facilities would make GIFT City far more advanced than existing Indian cities.

The Indian Government, its Prime Minister, in particular, is very optimistic about this city. It has roped in state-run banks and global financial institutions to fund the project. The first phase of the planned city is expected to get completed by the end of the year 2016. Once fully operational, GIFT City will redefine the meaning of ‘Urban’ and will surely encourage many more cities.

Integrated Business Parks: The Future of Commercial Realty

Commercial realty in India has defied the much cried ‘slowdown’ and has started showing momentum. Thanks to some of the supportive policy reforms by the union government, investors from across the world have intended to invest in India. Many multinational companies are already present here and are planning to expand their businesses. The boom in eCommerce and approval of 100 per cent FDI has unlocked many more opportunities for the commercial realty to leapfrog the growth. Cities like Noida and Gurgaon in Delhi NCR, Chandigarh, Bengaluru, Hyderabad, GIFT City in Gujarat and Mumbai have become the commercial property hot-spots. This boom has also created a need for business parks which are self-sufficient and offer all the facilities a businessman would require on his trip. It has given the birth to concept of Integrated Business Parks.
 

Integrated Business Parks are amalgamation of small business units together with retail and world class hospitality facilities. Some of the amenities include retail space with global standards, office space, meeting rooms and serviced apartments with global standards for facility management services. The various commercial projects by Hines Group worldwide like CityCenterDC in Washington DC, 609 Main in Texas are the best example of Integrated Business Parks. World Trade Center has also established its name in this category and has created its own members family and support them to expand their operations globally.
 

In India too, such business parks are being developed by renowned developers. They are tying up with global brands for facility management and offer their customers best in class services. As an investor, one should look to invest in such properties for following reasons. 
 

Need of the Hour
With business environments exploring global opportunities, it becomes necessary to follow the global standards as well. Such business parks offer an ease of doing business and make your global guests as comfortable as anything. Employees too, feel proud working in such offices, thereby restrict attrition.
 

Avail facilities without owning
The integrated business parks offer facilities like high-class meeting rooms, conveyance facilities for global guests, serviced apartments and recreational facilities all in one campus. One just needs to book a unit there and avail all these facilities on a marginal rate.
 

The Smart City Concept
Integrated Business Parks are usually run on smart energy with Eco-friendly management system all around. They run on solar energy, have waste management in place, treat their waste water to recycle etc. Therefore, they best suit the concept of smart cities that the government is developing.  
 

Ease of Doing Business Globally
These business parks are maintained and run by global consultancies having properties in other countries as well. They form a global family and offer business facilities to their members in other countries as well on a marginal rate. This makes doing business easy and expands the reach to many countries instantly.