IL&FS Offers 5.4 Lakh Sq. Ft. in GIFT City for Sale

01 Mar 2024 CW Team

IL&FS, in a strategic move, has listed over 5.4 lakh sq. ft. of office properties in Gujarat International Finance Tec-City (GIFT City) for sale. This decision reflects the company's initiative to liquidate assets, aligning with dynamic financial strategies amid the evolving landscape.

The offering comprises significant commercial real estate in GIFT City, an emerging financial and technology hub in Gujarat. IL&FS's move to divest from these properties underscores a proactive approach to optimise its portfolio and navigate the changing financial scenario.

GIFT City, designed as an international financial services centre, attracts businesses and investors, making the IL&FS offering a notable proposition in the commercial real estate market. The decision to sell aligns with IL&FS's broader financial restructuring efforts and the focus on consolidating its real estate assets.

IL&FS's move to put these office properties on the market provides an opportunity for potential investors and businesses looking to establish a presence in GIFT City. The decision to sell this substantial commercial space in a prominent financial hub is indicative of IL&FS's strategic direction in adapting to market dynamics and optimising its real estate holdings.

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