Ahmedabad is moving closer to becoming a major technology and innovation destination as Gujarat strengthens its focus beyond manufacturing-led growth. Union home minister Amit Shah highlighted the city’s growing potential as a global capability centre (GCC) and innovation hub during the announcement of Ganesh Housing’s upcoming integrated IT SEZ project, Million Minds Tech City.
The listed real estate developer will invest more than Rs 15,000 crore to develop the 18 million sq ft project across 65 acres in Ahmedabad. The development will be completed in 7 phases over the next 5 years.
“Gujarat has already established itself as one of India’s strongest industrial growth engines, and now the state is moving decisively towards becoming a global hub for technology, innovation and high-skilled services,” Shah said. “Projects like this will not only create world-class infrastructure and employment opportunities but will also position Ahmedabad alongside the country’s leading technology destinations.”
The first phase of the project covers 1.3 million sq ft, out of which nearly 800,000 sq ft has already been leased directly and through managed office providers to domestic and global firms.
“This is essentially an economic growth and employment generation story for Gujarat,” said Shekhar Patel, MD & CEO at Ganesh Housing. “We are building an ecosystem that will directly and indirectly generate over 70,000 jobs, enable reverse migration of Gujarat’s talent pool and strengthen Ahmedabad’s position as a serious destination for global corporations and GCCs.”
Ganesh Housing has already invested Rs 1,100 crore in the first phase. Companies that have taken space in the project include IBM, Tata Consultancy Services, Searce, Valtech, Withum, KashivBioSciences and APSER Life Sciences.
The integrated development will feature nearly 10 million sq ft of Grade A commercial and technology office space, around 6 million sq ft of premium residential projects, and close to 2 million sq ft dedicated to retail, hospitality and lifestyle infrastructure. The project is being developed in partnership with global real estate company TishmanSpeyer, which is serving as the project management partner.
The first phase alone is expected to create 9,000 jobs, while the full project could generate more than 70,000 employment opportunities.
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