Diamond Research and Mercantile City

Diamond Research and Mercantile City, also known as DREAM City, is a upcoming business district in Surat, India. It will be built on 2,000 acres (810 ha) 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

List of tourist attractions in Surat

References

  1. 1 2 Bhatt, Himanshu (5 November 2014). "100-storey buildings proposed in Dream City". Times of India. Surat. Retrieved February 25, 2015.
  2. 1 2 3 "Gujarat CM lays foundation stone for state's third smart city in Surat". Business Standard. Surat. 15 February 2015. Retrieved February 27, 2015.
  3. 1 2 "Surat to get a diamond city". Telegraph India. Surat. 15 February 2015. Retrieved February 27, 2015.
  4. ↑ Gaikwad, Rahi (15 February 2015). "'DREAM City' in diamond capital". The Hindu. Surat. Retrieved February 25, 2015.
  5. ↑ "Cabinet clears creation of SPV for Surat Dream City". The Times of India. Gandhinagar. 5 February 2015. Retrieved February 27, 2015.
  6. ↑ Thomas, Melvyn (24 January 2015). "Global diamond barons invited for SDB stone laying event". Times of India. Surat. Retrieved February 27, 2015.
  7. ↑ Vora, Rutam (15 February 2015). "Surat's 'DREAM City' to be Gujarat's third smart city". The Hindu Businessline. Surat. Retrieved February 27, 2015.
  8. ↑ "Big hopes from diamond bourse". Times of India. Surat. 16 February 2015. Retrieved February 27, 2015.
  9. ↑ Vora, Rutam (15 February 2015). "Gujarat Govt plans textile university in Surat". The Hindu Business Line. Surat. Retrieved February 27, 2015.
  10. ↑ "Hectic work on for Dream City, Surat Diamond Bourse event". The Times of India. Surat. 13 February 2015. Retrieved February 25, 2015.

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