IEP Chandigarh, October 3
The Fourth Roundtable Conference on the Global City held under the Chairmanship of Haryana Chief Minister, Sh. Manohar Lal, on October 3, 2022 at Dubai, has created a buzz amongst the Real Estate community of the UAE.
The Global City is a marquee project of the Government of Haryana being developed through its infrastructure development arm, Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) and aims at redefining the concept of urban development and what cities of the future shall look like through its sustainability focused future oriented infrastructure planning and design. The Roundtable conference was conducted to understand and consider the valuable inputs and seek interest of major Real Estate Developers and Real Estate focused funds prior to official launch of the Projectand followed similar earlier conferences conducted at Gurugram and Mumbai with leading Indian stakeholders.
In his address Haryana Chief Minister, Sh. Mahohar Lal spoke about his vision of developing the Project as the Central Business District of Gurugram with an intensive focus on modern technology fields, future oriented industries, low carbon green infrastructure and ease of living. Highlighting the livability and environmental crises that face the world’s cities today, the CM spoke about how the Global City has been designed by a team of the brightest minds in planning and engineering to offer an unprecedented urban living experience while preserving the surrounding nature and giving shape to the cherished goals of sustainable cities and communities. Through the creation of this unique, modern urban ecosystem that would act as fulcrum for new technology and innovation industries, the CM spoke about positioning Gurugram on the global map. The Roundtable Conference was followed by one-on-one discussions with the Chief Minister with the Real Estate Companies.
The Roundtable Conference kicked off with a Welcome and Context Setting Address by Sh. Aman Puri, Consul General, Consulate General of India, Dubai, followed by an introduction of the delegates and a detailed presentation on the Global City Project delivered by Sh. Vikas Gupta, MD HSIIDC. In the presentation it was highlighted that the Global City Project is a mixed land use project envisioned to be developed as a “City within a City” over approx. 1080 acres at the heart of Gurugram’s upcoming Residential and Commercial hub in Sectors 36B, 37A and 37B and along the 8-lane under construction Dwarka Expressway. MD HSIIDC explained in detail how the project would serve as a paradigm for a futuristic city in terms of quality of life, infrastructure and ambience. Built with a motto of Live Work & Play, it was explained that the project ecosystem would provide futuristic workspaces, modern retail spaces, residential towers, meticulously planned expansive green spaces and multi-modal connectivity options of Dedicated Bus Corridors, MRTS (Metro) and Heliport facilities. The contemporary planning methodology of the project based on transit-oriented development and keeping in mind the new normal post the pandemic and the distinctive value proposition on offer to investors in the form of first mover advantage, potential of high returns, security of investment etc. were particularly emphasized.
Post the detailed presentation, the deck was thrown open to the various Real Estate Developers to provide their inputs on the project from the point of view of planning, infrastructure, marketing, positioning and support that would be required from HSIIDC/ Govt. of Haryana to ensure the successful implementation of the project. The invitees lauded the visionary thinking of the Govt. of Haryana for the development of the project and showcased keen interest to invest in the Project. The suggestions offered by the delegates focused on,
· Allowing greater flexibility in planning to the developers
· Developing landmark projects such as International Financial Services Center (IFSC), Universities etc. which would act as an anchor/ magnet for potential investors
· Different development and project phasing strategies that may be adopted by HSIIDC
· Payment mechanisms and forms of governmental support such as single window mechanism that may be offered to investors to further enhance interest of developers etc.
The Chief Minister was accompanied by Deputy Chief Minister, Sh. Dushyant Chautala, Chief Principal Secretary to Chief Minister, Sh. DS Dhesi, Additional Chief Secretary, Industries and Commerce Department, Sh. Anand Mohan Sharan, Principal Secretary to Chief Minister and & Chairman HSIIDC, Sh. V Umashankar , MD HSIIDC Sh. Vikas Gupta.
The Real estate Company representatives included the top leadership from leading real estate developers and funds of UAE such as Sobha Realty, Nakheel, Emaar, Lulu Group, DP World, Sharaf Group, Ellington Properties, Dubai Investments, Gulf Islamic Investments, Al-Marjan, Al-Hamra, Tabreed, Danube Properties, Dalands Properties and Tabreed amongst others.