Infibeam’s big step: Turning Sintex Corporate House into a tech centre. Get ready to be a part of Ahmedabad’s tech scene.
Infibeam Projects Management Pvt Ltd, a subsidiary of Infibeam Avenues Ltd, has successfully acquired the nearly completed Sintex Group corporate house from an Aditya Birla Group finance company.
The 7,000 square metre plot and a huge 4.20 lakh square feet of constructed property are set to become the nucleus of innovation and entrepreneurial excellence. While the exact price range for the acquisition is reported to be between Rs. 90 crore and Rs. 100 crore, registration of the sale deed is currently in progress.
Infibeam’s vision for this prime real estate near Vaishnodevi Circle is crystal clear. They intend to transform it into a commercial space designed to foster the growth of startups and IT companies.
Real estate experts are nodding in agreement with the wisdom of this investment. Vaishnodevi Circle is rapidly evolving into a corporate hotspot, with leading players like Zydus Lifesciences and Adani Group establishing their corporate headquarters in the vicinity. Moreover, Gujarat’s largest IT Special Economic Zone (SEZ), spearheaded by Ganesh Housing Corporation, is also taking shape in this area.
Insiders familiar with the transaction revealed, “The NBFC is about to divest its holding in the partially constructed Sintex Corporate House, located near Vaishnodevi Circle. Infibeam Avenues Ltd seized this opportunity to advance its mission of hosting tech companies and startups.”
Additionally, Infibeam Avenues Ltd recently established Infibeam Projects Management Pvt Ltd, an entity designed to cater to the workspace requirements of fintech startups and IT companies. In an insider’s account, it was disclosed, “Infibeam initiated this fintech management subsidiary with a clear agenda of attracting IT enterprises from outside the state to set up shop in Ahmedabad.”