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India’s first business club and Gujarat’s tallest 5-star hotel will be established at the Gujarat International Finance-Tec City (GIFT City) in the State Capital, at an investment of Rs 350 crore in the next three years.
The hotel-cum-club project, to be developed by the Ahmedabad-based West India Hospitality Ltd, will have 300 rooms in the hotel and 40 in the club. The developer has shortlisted Starwood’s Sheraton brand for the project. Sheraton is the largest brand of Starwood Group with 400 hotels and 140,000 rooms across the world.
The business club will have space for private meetings, conference rooms, cafeteria, dining and recreational lounges.
Theme of the club
Ramakant Jha, Managing Director of the Rs 78,000 crore GIFT City, said the club has been planned on the theme of business and entertainment. It will be a ‘home away from home’ and also be an ‘office away from the office.’ The club will provide a networking platform that the growing business community needs in Gujarat and India. Dipesh Shah, Vice-President, Business Development, GIFT City, told Business Line on Friday that the club will become operational in 2015 and the hotel in 2016.
The club’s built up area will be about 80,000 square feet. It has been planned to encourage professionals and businessmen to meet at a conducive business environment and also have the flexibility of a club environment to relax.
The club will also have sports facilities for the business community and their families.
The Phase I of GIFT City, spread over 886 acres, will witness the development of 10 million sq.ft. of commercial built-up area, creating one lakh jobs and two million sq.ft. of residential built-up area, covering 3,000 apartments. It would also have school, hospital, financial services training centre, university etc.
GIFT is developing a global financial hub in Gandhinagar and expects many international and national players in the financial services and IT/ITeS sectors to open their offices in the city. About half-a-dozen nationalised banks and IT companies have already booked space.
The Gujarat Government’s ambitious project of GIFT City is a globally benchmarked International Financial Service Centre (IFSC) being developed in a Special Economic Zone (SEZ) and Domestic Finance Centre (DFC) in non-SEZ area.
It will have state-of-art internal infrastructure, along with external connectivity by roads, metro and BRTS. The City is being developed through Gujarat International Finance Tec-City Co. Ltd. (GIFTCL), a joint venture company of the State Government and Infrastructure Leasing & Financial Services (IL&FS).
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