GIFTCL invites bids for construction of commercial tower in GIFT City
The special purpose vehicle (SPV) responsible for the development of the GIFT City, Gujarat International Finance Tec-City Company Ltd (GIFTCL) has invited bids for the construction of a commercial tower spread over 754,000 sq ft in the processing area of the special economic zone (SEZ). The bidder can be a domestic or international company, a consortium, or a joint venture.
As per the update land for the project will be allotted on a leasehold basis for 99 years, and the lease deed will be executed only after completion of the construction, which has to be done in 5 years. The work involves designing, financing, developing, constructing, operating, and maintaining the commercial tower.
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