Mumbai (Agency): Prime Minister Narendra Modi ‘rang the bell’ – in form of striking an electric gong – to herald the beginning of BSE’s International Exchange (BSE INX). The BSE INX, which is poised to not only be the fastest in the world, but also one that will trade over a 22-hour cycle every day, is based on the entire first floor of the 16-storey ‘Hiranandani Signature’, a commercial tower which is the first commercial building to come up in the IFSC zone (International Financial Services Zone) of the GIFT City (Gujarat International Finance Tec-City) campus in Gandhinagar, Gujarat.
Not just the sobriquet of ‘fastest’ or the 22-hour trading cycle, what also makes BSE INX special, as narrated by Ashish Kumar Chauhan, Managing Director and Chief Executive Officer of Bombay Stock Exchange (BSE) during an interaction with the media on 07 January, is that it has the potential to emerge as “India’s Hong Kong”. Elucidating this, he said BSE INX @ GIFT City would help bring $ 1-3 trillion in investments over the next decade and a half.
The 16-storey “Hiranandani Signature” tower which offers 4.2 million sq ft of commercial space, is among the 42 buildings constructed by Hiranandani Communities in 2016, said Dr. Niranjan Hiranandani, CMD, Hiranandani Communities. “Among the 42, ‘Hiranandani Signature’ stands out because it will usher in a revolution in the financial world,” he pointed out. BSE signed up for the space two months ago, and the entire first floor was prepared as per their requirements. They completed their set-up and related activities in a record 45 days,” said Dr. Niranjan Hiranandani.
The fulfillment of Prime Minister Narendra Modi’s dream, ‘Hiranandani Signature’ is the first commercial tower ‘ready for work’ in time for Vibrant Gujarat 2017. “It is an achievement, our team completed the tower within a record 13 months – while ensuring quality of construction. “It was a tough target, which we achieved – the completion and handover of India’s first IFSC-designated tower, ‘Hiranandani Signature’ in the SEZ zone of GIFT City, Gandhinagar, Gujarat, in a construction cycle that provided us with just 13 months to complete the same,” said Dr. Niranjan Hiranandani.
A testimony to Hiranandanis’ professionally structured corporate organization, ‘Hiranandani Signature’ was created by leveraging global best practices and select construction material. “The time-bound completion of ‘Hiranandani Signature’ was a result of pioneering technologies, bold design and precision engineering which ensured we created this landmark. The completion of this 16 storey commercial tower within a record thirteen months encapsulates our efforts, with the right synergy between various teams – be it Architecture, Engineering or Sourcing & Contracts – each has shown exemplary spirit in creating and delivering the first functional commercial tower in the IFSC @ GIFT City,” he added.
In the Indian context, it is not always the scene that a real estate developer is associated with speed of construction, precision, and early delivery. Explaining that the achievement was not just the tower being completed within 13 months, but also how it was done, Dr. Niranjan Hiranandani pointed out that this achievement was done by following global best practices, some of which were picked up when he built what was then the world’s tallest residential tower, ‘23 Marina’ in Dubai, a few years back. Hiranandani Signature, as a commercial tower, is fully functional, with no compromises on the structural stability or safety aspects. Today, Prime Minister Narendra Modi ‘rang the bell’, formally commencing BSE INX’s global trading – an achievement for India’s BFSI sector; as also fulfillment of Prime Minister Narendra Modi’s dream of setting up an International Financial Services Centre in India.
“We at Hiranandani Communities take pride in announcing the inauguration of operations by Prime Minister Narendra Modi, at of India’s first IFSC-designated tower, ‘Hiranandani Signature’ in the SEZ zone of GIFT City, Gandhinagar Gujarat,” concluded Dr. Niranjan Hiranandani.