Gujarat International Finance Tec-City, India’s leading finance and tech hub at Gandhinagar, is now adding to its face value by unveiling an expansive entertainment, retail, and recreational zone.
The Gujarat government’s flagship facility GIFT City will now feature theme parks, gaming arcades, cultural zone, complete with art galleries, theatres and performance spaces in a proposed 20-acre site.
A major highlight of the zone will be the GIFT Eye—a giant Ferris wheel, reminiscent of the London Eye, soaring to a height of 158 metres. Additionally, the entertainment zone will showcase a retail and dining extravaganza, offering a diverse landscape that caters to various tastes and preferences.
The estimated cost of the project is Rs 5,000 crore, and global tenders have already been issued. The state government aims to finalise the Memorandum of Understanding (MoU) for the project during the upcoming Vibrant Gujarat Global Summit in January.
“A vibrant retail-cum-entertainment hub is a compelling necessity alongside our robust business hub,” said a senior official of GIFT City.
The zone, spanning a minimum of 1.5 million square feet, will feature high street retail or a shopping mall, a food plaza, a musical fountain show, a game zone, water sports, a theatre, gardens, and recreational areas.
The Cultural Epicenter will include amenities such as art galleries, theaters, and performance spaces. Amid the urban hustle, the zone will provide tranquil green spaces, parks, and recreational areas, offering a serene escape from the bustling city.
This Recreational Infrastructure Project aligns with the GIFT City vision, drawing footfalls not only from the neighboring cities of Ahmedabad and Gandhinagar but also positioning itself as a tourism magnet for visitors from across India and abroad, the official added.
Parties with a net worth exceeding Rs 10,000 crore will be eligible to submit bids. They must have developed at least one project on a minimum land area of 21 acres and designed and completed at least one mall.