ICICI Bank is building three 30-storey towers of 10 lakh square feet each near the Gujarat International Finance Tec-City in Ahmedabad. While the first tower is under construction, others will be developed in phases.

ICICI Bank is not alone.

GIFT at Ahmedabad is emerging as an important alternative to Mumbai for such companies. State Bank of India , Union Bank and Kotak Bank have already signed MoUs with the GIFT administration for developing office space there.

Some housing-finance companies and real estate developers are also in talks to build office complexes there.

Sunil Behl, CEO, GIFT, said that, “We are also in talks with commodity exchanges that can shift some of their offices.”

He said that GIFT will provide all infrastructure requirements for these companies and IT and ITeS companies. “We have received a lot of response from financial service companies for moving into the GIFT city,” he said.

The Gujarat government is also taking many initiatives for creating a healthy pool of talent for such companies.

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Tags: GIFT, Gujarat, ICICI, Modi, Uniun BAnk