Savvy Group bags bid for a mega commercial project in GIFT City
Ahmedabad-based realty firm Savvy Group has emerged the highest bidder for developing the largest commercial and recreational project in the special economic zone of Gujarat International Finance Tec-City, or GIFT City.
The project — spread over 2.8 million sq ft and entailing an investment of more than ₹1,200 crore — will also include an innovation and startup hub.
The company has pipped three other bidders to bag the proposed project that surpasses all existing developments within the GIFT City, which previously boasted the largest development covering a million sq ft.
This is the first project conceived by the GIFT City authority following the recent declaration by Gujarat government to grant it an exemption from a long-standing liquor prohibition law dating back 63 years. This exemption aims to bolster the city's appeal to foreign corporations, encouraging increased investments in the region.
Savvy Group is planning to commence work on the project in the next few months after securing necessary approvals from the GIFT City authority. It expects to complete the project by mid-2028.
«This project is poised to become a flagship property within GIFT City. Designed to serve multinational corporates, fund management firms, GCCs, KPOs, IT & ITeS offices, upscale co-working spaces and luxury residences in the vicinity, complemented by a diplomat club, it promises to seamlessly blend commerce with leisure in line with the authority's plan to boost GIFT City's social infrastructure,» Jaxay Shah, CMD, Savvy Group,
