In Part-1, we have already discussed the Value Proposition and the Strategy behind building GIFT on the banks of Sabarmati. The site is about 12km from Ahmedabad International Airport and 8km from Gandhinagar close to Ecopolis Knowledge City. Land allocated for the project is 663 acres, entailing development of 62msf (plus 12msf below the ground). Of this, 250 acres is earmarked for SEZs and the balance will be for domestic operations.
GIFT is a Public Private Partnership venture with Government of Gujarat) owning 50% of shareholding and Infrastructure Leasing and Finance Services (ILFS) owning the remaining 50%. 67% of the space is targeted at commercial, 23% residential and 10% for social infrastructure. Thus, GIFT will predominantly target the office segment.
Phase 1 will entail development of 10msf over 2010-13, phase 2 will entail development of 22msf over 2012-16 and phase 3 will entail development of 30msf over 2016-20. [The Entire Project should have completed within 5 years in our view and 10 years is too long a time.]
The Convention Center has several halls, auditorium and an opera hall with seating capacity of more than 10,000.
Its design is inspired by salt crystals and the Dandi March. It will also have eight museums showcasing the history, art, culture and socio-economic life of Gujarat.
The Gateway Towers draw this design inspiration from Buland Darwaja and herald India’s arrival in the new millennium.
The tall archways of the Gateway Towers frame the majestic Diamond Tower. Astride the main avenue of the city, the Gateway Towers have elaborate terrace gardens and a rooftop restaurant.
The tallest tower [Diamond Tower] is located on Fortune Island. The tower symbolizes Gujarat’s flourishing diamond industry and has been designed to portray elegant edges of diamond facets, with each floor of the tower being different, yet forming a large diamond.
The glowing crystals are one of the most stunning buildings of the city’s skyline. Synonymous with their names, the four office Crystal Towers have beautiful terraced gardens and offer spectacular views of Dream River, Diamond Tower and the Convention Center.
There is also a transport node in the urban hub of the city. The complex is designed with hotels, malls, theaters, food streets and multidimensional transport stations.