Colliers Bags $10m Deal for Constructing Indian AI Hub

As part of the contract, the firm is all set to construct Infibeam Avenues’ Artificial Intelligence and Technology Extension Hub at Ahmedabad

Real-estate consultants Colliers has bagged the $10-million contract for constructing Infibeam Avenues’ Artificial Intelligence and Technology Extension Hub at Ahmedabad, official sources said. The Ahmedabad centre is envisioned as an extension of Infibeam Avenues’ proposed AI Hub in Gujarat International Finance Tec-City (GIFT City) in neighbouring Gandhinagar. The construction of this extension is slated for completion within a period of 18 months.

In November 2023, Infibeam Projects Management Pvt Ltd, a subsidiary of Infibeam Avenues had acquired a partially constructed Sintex Corporate House in Ahmedabad from Aavas Trust, an entity owned by the Aditya Birla Group. This acquisition includes a plot area of 76,250 square feet near Vaishnodevi Circle, where the extension hub is expected to come up.

Quick Take

• The Ahmedabad centre is envisioned as an extension of Infibeam Avenues’ proposed AI Hub in GIFT City in neighbouring Gandhinagar
• The construction of this extension is slated for completion within a period of 18 months
• The hub is supposed to come up on a plot area of 76,250 square feet

The Ahmedabad campus, which will be the extension of GIFT City’s AI Hub, will have the company’s own in-house team and it will house strategically invested AI and technology businesses under one roof, further enhancing the synergy and innovation within the ecosystem. “As part of the ‘symbiotic’ framework, AI and tech companies will gain access to dedicated space within the AI & Tech Hub, where they can work in a collaborative ecosystem. This strategic location will empower these enterprises to offer their specialised products and services to enhance Infibeam Avenues’ artificial intelligence (AI) operations. Concurrently, the company will also provide a comprehensive support system that nurtures these businesses, enabling them to flourish independently while contributing to a thriving AI ecosystem,” said sources.

In January 2024, Infibeam Avenues signed a memorandum of understanding (MoU) with the Gujarat government, for a proposed investment of ₹2,000 crore in its Artificial Intelligence (AI) Hub at GIFT City by financial year 2030. The investments are meant for developing cutting-edge vision AI-technology for payments and platforms specifically tailored for retailers, the company had said.  Infibeam Avenues had officially named its AI-Hub located at GIFT city, Gandhinagar, as ‘Phronetic.ai’.