Diamantaires make beeline to book space in SDB

Diamantaires of Surat may be crying financial distress due to weak global demand and rising rough prices. But this has not stopped many from making a beeline to the Surat Diamond Bourse (SDB) coming up in the Diamond Research and Mercantile (DREAM) city at Khajod. Around nine lakh square feet of office space has already been booked by the diamantaires from Mumbai and Surat in just three days. Looking at the overwhelming response, the SDB office-bearers have set the target to book 50-60 lakh square feet of office space till March 8.

The much-awaited booking for the world-class SDB at DREAM city project at Khajod started from February 22. The SDB, a company floated for the development and construction of the world-class diamond bourse, said that more than 3,000 diamond merchants and individual firm owners from Surat and Mumbai have been issued the booking forms in the last three days. The booking for the offices has been started at the token price of Rs 600 per sq feet.

It was after chief minister Anandiben Patel performed the ground breaking ceremony of DREAM city and SDB on February 15, 2015, the diamond barons had finalized the design of SDB spread across 100 acres of land with the availability of 15 million sq ft built-up area. The SDB had launched three unsuccessful attempts to start the bookings but failed due to the liquidity crisis in the industry and the Patidar agitation across the state.

The state government is yet to quote the final land price at DREAM city project at Khajod. However, those interested in buying office space at SDB will require to pay Rs 600 per sq ft and the estimate final cost of the offices would be in the range of Rs 5,000-Rs 6,000 per sq ft.

In March-2015, SDB diamond bourse was flooded with inquiries from traders. Since the government is yet to fix land price, the bourse members were in a dilemma. Mathur Savani, SDB spokesperson, told TOI: “We are closing the bookings on March 8. We are confident of selling over 60 lakh sq feet. There are many traders from Antwerp and Dubai who are keen to book their trading offices in the SDB.”

According to Savani, SDB is touted as the world’s largest diamond bourse project. As per the design, there will be a total of 10 buildings. Each floor of the buildings will be interconnected with other buildings. There will be total 10,000 offices in the range of 300 sq feet to 50,000 sq feet. The building office space available will be of 91 lakh sq feet with a parking space of 20,000 cars and 35,000 two-wheelers.

Courtesy: The Times Of India