Diamond Research and Mercantile City

Diamond Research and Mercantile City, also known as DREAM City, is an 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]

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See also

List of tourist attractions in Surat

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

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