Diamond Research and Mercantile City, also known as DREAM City, is an upcoming business district in
Surat, India. It will be built on of land near Khajod, along the lines of the
Gujarat International Finance Tec-City
Gujarat International Finance Tec-City (GIFT City) is central business district under-construction in Gandhinagar and Ahmedabad in Gandhinagar district in Gujarat, India. It is India's first operational greenfield smart city and international f ...
and
Dholera Smart city near
Ahmedabad.
Expected to open in 2030,
it will be
Gujarat
Gujarat (, ) is a state along the western coast of India. Its coastline of about is the longest in the country, most of which lies on the Kathiawar peninsula. Gujarat is the fifth-largest Indian state by area, covering some ; and the ninth ...
's third
smart city
A smart city is a technologically modern urban area that uses different types of electronic methods and sensors to collect specific data. Information gained from that data is used to manage assets, resources and services efficiently; in retur ...
.
Description
The district is projected to have office space, residential areas, and facilities for these residential areas.
It will be established and run by a
special purpose vehicle formed by the
Government of Gujarat
The Government of Gujarat, also known as Gujarat Government, is the supreme governing authority of the Indian state of Gujarat and its 33 districts. It consists of an executive of the legislators appointed by the Governor of Gujarat, a judiciar ...
. The special purpose vehicle, named ''DREAM City Company Limited'', was formed by the passage of a resolution in the assembly of the state government.
Surat Diamond Bourse
India's second diamond trading centre, the
Surat Diamond Bourse, will operate from DREAM City.
Its major roles will be trading unpolished diamonds and manufacturing polished diamonds.
The Diamond Bourse is expected to have services for import and export of diamonds, as well as banking and insurance services.
Presently, diamonds are polished at Surat and traded at India's sole diamond exchange,
Bharat Diamond Bourse
Bharat Diamond Bourse (BDB) is the world's largest diamond bourse (exchange) and is located in Mumbai, India. Spread over a 20-acre plot, the complex is home to some 2,500 small and large diamond traders in addition to the Custom House, banks an ...
, in
Mumbai
Mumbai (, ; also known as Bombay — List of renamed Indian cities and states#Maharashtra, the official name until 1995) is the capital city of the Indian States and union territories of India, state of Maharashtra and the ''de facto'' fin ...
.
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
Arun Jaitley (28 December 1952 – 24 August 2019) was an Indian politician and attorney. A member of the Bharatiya Janata Party, Jaitley served as the Minister of Finance and Corporate Affairs of the Government of India from 2014 to 2019. Jai ...
announced the establishment of a textile cluster in
Surat.
Construction schedule
The foundation stone was laid by the
Chief Minister of Gujarat
The Chief Minister of Gujarat is the chief executive of the government of the Indian state of Gujarat. The governor appoints the chief minister, whose council of ministers are collectively responsible to the assembly. The chief minister's ter ...
,
Anandiben Patel
Anandiben Mafatbhai Patel (born 21 November 1941) is an Indian politician serving as the current Governor of Uttar Pradesh. She also served as Governor of Madhya Pradesh and Governor of Chhattisgarh. She has served as the first female Chie ...
, on 15 February 2015.
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.
See also
*
List of tourist attractions in Surat
Surat is a principal business hub of the Indian state Gujarat, the eighth largest city and ninth largest urban agglomeration. Surat is the 2nd cleanest city of India. and fastest growing city of the world Surat is also famous for its food, ...
References
{{Surat district
Proposed infrastructure in Gujarat
Economy of Surat
Planned cities in India
Surat
Cities and towns in Surat district
Diamond industry in India