31 Mar '18, 9am

India building city from scratch to challenge Singapore & Hong Kong financial hubs

Called Gujarat International Finance-Tec City, or GIFT City, it is planned to be on a par with global financial hubs. “Except for the fact that we are not sitting in Singapore and GIFT City is not Singapore, I think from a business perspective we have everything that is required,” the city's CEO Ajay Pandey told CNN. Read more India to become world’s third-largest economy by 2028 The new city has already attracted close to $2 billion in real estate investment, and Pandey expects the sum to eventually rise to nearly $11 billion. It currently consists of a school, a data center, and three large office buildings, to which workers are bussed from surrounding areas. The first residences will be ready by May, and a four-tower World Trade Center complex is expected to be completed in the next two years. As for the transportation links, Ahmedabad Airport is only a 25-minute drive ...

Full article: https://www.rt.com/business/422843-india-new-city-investors/

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