Gujarat International Finance Tec-City
|Gujarat International Finance Tec City|
|• Body||Gujarat International Finance Tec-City Company Limited|
|• Total||3.99 km2 (1.54 sq mi)|
|• Official||Gujarati, Hindi, English|
|Time zone||UTC+5:30 (IST)|
Gujarat International Finance Tec-City (GIFT City) is a business district near Gandhinagar in Gujarat, India. It is India's first operational greenfield smart city and international financial services centre, which the Government of Gujarat promoted as a greenfield project, The city is located on the banks of the Sabarmati River and is around 12 km (7.5 mi) from Sardar Vallabhbhai Patel International Airport.  The city is designed so residents can walk to work, and includes commercial and residential complexes.
The idea for GIFT was conceived during the Vibrant Gujarat Global Investor Summit 2007 and the initial planning was done by (ECADI), which planned much of modern-day Shanghai. The GIFT City’s plan is for 359 hectares (886 acres) of land to have approximately 110 buildings with 5,800,000 m2 (62,000,000 sq ft) of built-up area, of which around 67% is commercial, 22% is residential and 11% is social facilities. As of April 2021, 190,000 m2 (2,000,000 sq ft) of commercial space is operational and another 280,000 m2 (3,000,000 sq ft) is under development. As of April 2021, an investment of ₹10,500 crore has already been committed for GIFT City. The city has an integrated development model, which has been spread out in three phases, each of which is designed as integrated, sustainable development The first phase includes development of office space, residential, school, hotel and clubs.
As of April 2021, about 225 units/companies are operational and more than 12,000 professionals are employed in the city.
On 15 December 2011, The Economic Times reported city officials in GIFT were inviting companies from Singapore that wished to expand but could not do so due to a lack of land in Singapore to open their businesses in GIFT. Investments from banks, private equity companies, insurance companies and asset management companies were considered.
On 26 December 2011, The Times of India reported China's technology giant Huawei was likely to provide technology to GIFT. According to Eric Yu, president, enterprise business of Huawei India, this technology included networks, data centres and surveillance.
On 2 October 2014, NetIndian reported a new World Trade Center would be set up in GIFT City as per an agreement between World Trade Center India Services Council (WTCS) and GIFT City Ltd. It would be completed within four years.
would invest ₹120 crore to build a commercial tower to set up back-office operations to lower their costs and enjoy modern facilities. They were allocated 28,000 square metres (300,000 sq ft) to develop the commercial tower with the likelihood of setting up an exchange office.
According to The Times of India on 18 October 2014, the Bangalore-based Brigade Group would invest ₹500 crore over the next few years to develop 100,000 square metres (1.1×106 sq ft) of built up area with a future option of investing another₹600 crore to develop 160,000 square metres (1.7×106 sq ft).
In November 2018, The Wire reported the Government of Gujarat State would buy out the 50% stake of beleaguered Infrastructure Leasing & Financial Services (IL&FS) in the GIFT City to minimize delays to the project. In June, 2020, IL&FS concluded sale of its stake in GIFT-City for ₹32 crore equity value to the state government.
Two 28-floor commercial towers called GIFT One and GIFT Two have been finished. Tendering for the construction of more towers is ongoing. This phase will also include the building of basic infrastructure. The second phase construction has already begun and the , which hosts India International exchange, has been completed. The WTC is under construction. New road access to GIFT City has been built. The third phase's construction and commencement of the fully built city will occur between 2020 and 2023. The fourth phase, termed "The Enpeoplement", will fill the city with humans.
- Design and Architecture - East China Architectural Design & Research Institute (ECADI) and Fairwood Consultants India
- ICT Advisory Services - British Telecom
- Market Demand Assessment - McKinsey & Company
- Talent Demand Assessment - Hewitt Associates
- Environmental Assessment - IL&FS Ecosmart Ltd
- Process Management - IL&FS Infrastructure Development Corporation Ltd
- Power Management - ABB Group
As part of Phase-I development, around 780,000 square metres (8.4×106 sq ft) of built-up area has already been allotted from the 1,200,000 square metres (13×106 sq ft) available for commercial, residential and social use. On 11 September 2019, , Managing Director and Group CEO of GIFT City, said the city had attracted around ₹11,000 crore of investment.
India's first city-level district cooling system (DCS) is operational at GIFT City. The first phase of this DCS, with a capacity of 10,000 Ton of refrigeration has been in operation since April 2015; it reduces the operational cost by 30-40% and avoids the capital cost of implementing individual air conditioners in each building.
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-  Boost for AIF biz at Gift city as top fund administrator gets license
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