Hiranandani Communities’ ‘Hiranandani Signature’ in GIFT CITY

Mumbai-based Hiranandani Communities on Friday announced to creation of a future-ready commercial complex, ‘Hiranandani Signature’ at Gujarat International Finance Tec-City (GIFT CITY) in Gandhinagar, Gujarat.

According to a press release an International Financial Services Centre (IFSC), although located within India, offers the facility of acting like a ‘foreign operations office’, which helps facilitate easy movement of capital. ‘Hiranandani Signature’ will provide global infrastructure in a well-planned commercial complex to meet requirements of Financial Institutions located there.

Kotak Mahindra Bank Ltd., India’s fourth largest private sector bank, will be present at India’s first International Financial Services Centre (IFSC), GIFT City, which will be located in ‘Hiranandani Signature’.

“GIFT CITY is India’s first IFSC, and ‘Hiranandani Signature’ has been conceived as a unique commercial real estate offering here.” said Niranjan Hiranandani, MD, Hiranandani Communities.

“We are delighted to welcome Kotak Mahindra Bank to ‘Hiranandani Signature”, added Hiranandani, stating that it was joining an illustrious list of other financial institutions who have picked up space in the complex.

C. Jayaram, Joint Managing Director, Kotak Mahindra Bank said, “We’ve decided to take some space at the GIFT CITY. We believe that if you’re able to create an International Financial Centre in India, wherever it is, we’d like to have the option of participating in that”.

GIFT CITY is coming up as a Special Economic Zone (SEZ) largely devoted to finance and financial services. The first building is expected to be ready by June 2016. “Given India’s continued economic growth, the financial sector will grow increasingly larger, with a prospect of 10 – 11 million jobs by 2020,” said Niranjan Hiranandani.