Venus Group to develop 5 lakh sq ft commercial space in GIFT City

Gandhinagar: Gujarat’s real estate developer Venus Group, known for its residential and commercial projects, has signed a Memorandum of Understanding (MoU) to expand its footprint to GIFT City, home to the country’s only operating International Financial Services Centre (IFSC), in Gandhinagar.

The MoU was signed by Venus Group Chairman Rajesh Vaswani and GIFT City’s Managing Director and Group CEO Tapan Ray at GIFT City on Wednesday.

Venus Group will develop over 5 lakh sq ft of premium commercial space in the processing area of GIFT SEZ in GIFT City. The company will develop the ultramodern project on the fast track to cater to the growing demand for Grade A commercial space in GIFT City. The building will be designed with sustainability at its core with energy efficient facade and the highest green building certification.

“GIFT City is the first operational smart city in India and has seen unprecedented development in recent years. It has attracted several national and international financial institutions, including banks, insurers, broking houses, and stock exchanges, leading to a jump in office space demand. Having established as a leading office space developer, Venus Group is well-positioned to serve firms setting up operations in GIFT City,” said Mr. Vaswani.

“GIFT City has emerged as the new business destination for financial services and technology related activities. It has attracted interest from national and global financial firms and top real estate developers in Ahmedabad and Gujarat. We are happy to welcome Venus Group, which is a trusted real estate developer for several decades, to GIFT City,” said Mr. Ray.

GIFT City is an integrated development on 886 acres of land with 62 mn sq ft of built-up area including office spaces, residential apartments, schools, hospital, hotels, clubs, retail and recreational facilities, making it a truly “Walk to Work” City. GIFT City consists of a conducive Multi-Service SEZ and an exclusive Domestic Area. It is competing with global financial hubs like Dubai, Hong Kong, and Singapore. DeshGujarat