Diamond Research and Mercantile City, also known as DREAM City, is an upcoming business district in Surat, India. It will be built on Template:Convert of land near Khajod, along the lines of the Gujarat International Finance Tec-City and Dholera Smart city near Ahmedabad.[1][2] Expected to open in 2017–2018,[3] it will be Gujarat's third smart city.[2]
Description
The district is projected to have office space, residential areas, and facilities for these residential areas.[4] It will be established and run by a special purpose vehicle formed by the Government of Gujarat. The special purpose vehicle, named DREAM City Company Limited, was formed by the passage of a resolution in the assembly of the state government.[3][5]
Surat Diamond Bourse
India's second diamond trading centre, the Surat Diamond Bourse, will operate from DREAM City.[2] Its major roles will be trading unpolished diamonds and manufacturing polished diamonds.[6] The Diamond Bourse is expected to have services for import and export of diamonds, as well as banking and insurance services.[7] Presently, diamonds are polished at Surat and traded at India's sole diamond exchange, Bharat Diamond Bourse, in Mumbai.[8]
Textile university
The Government of Gujarat also announced plans to set up a textile university at DREAM City. This was announced seven months after Union Minister of Finance Arun Jaitley announced the establishment of a textile cluster in Surat.[9]
Construction schedule
The foundation stone was laid by the Chief Minister of Gujarat, Anandiben Patel, on 15 February 2015.[10] The project is to be completed in three phases by the Gujarat Infrastructure Development Board, with the Surat Municipal Corporation assisting with soil testing in places.[1]
See also
References
- ↑ 1.0 1.1 100-storey buildings proposed in Dream City. Times of India(5 November 2014). Retrieved 25 February 2015.
- ↑ 2.0 2.1 2.2 Gujarat CM lays foundation stone for state's third smart city in Surat. Business Standard(15 February 2015). Retrieved 27 February 2015.
- ↑ 3.0 3.1 Surat to get a diamond city. Telegraph India(15 February 2015). Retrieved 27 February 2015.
- ↑ 'DREAM City' in diamond capital. The Hindu(15 February 2015). Retrieved 25 February 2015.
- ↑ Cabinet clears creation of SPV for Surat Dream City. The Times of India(5 February 2015). Retrieved 27 February 2015.
- ↑ Global diamond barons invited for SDB stone laying event. Times of India(24 January 2015). Retrieved 27 February 2015.
- ↑ Surat's 'DREAM City' to be Gujarat's third smart city. The Hindu Businessline(15 February 2015). Retrieved 27 February 2015.
- ↑ Big hopes from diamond bourse. Times of India(16 February 2015). Retrieved 27 February 2015.
- ↑ Gujarat Govt plans textile university in Surat. The Hindu Business Line(15 February 2015). Retrieved 27 February 2015.
- ↑ Hectic work on for Dream City, Surat Diamond Bourse event. The Times of India(13 February 2015). Retrieved 25 February 2015.
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