Surat: Speculation arose about whether Surat Diamond Bourse (SDB)-world’s largest office complex, would turn into a haunted building or become a white elephant? Some events have been raising concerns about the project’s potential failure. However promoters are confident for positive turn of events in near future.
Following the inauguration of the Surat Diamond Bourse by Prime Minister Narendra Modi on December 17, 2023, recent developments have sparked concerns about the future of the project. Employees of Kiran Gems, who initially came from Mumbai to Surat, have returned, causing a temporary cooling of activities at the bourse. The company is chaired by Vallabhbhai Lakhani, who is also the chairman of SDB.
Despite these challenges, the promoters of SDB remain optimistic about a positive turnaround in the near future. Dineshbhai Navdiya, the media coordinator of SDB, dismissed the notion of the bourse being haunted and asserted that more than 500 offices within Surat Diamond Bourse are scheduled to become operational from May 10, 2024. He emphasized ongoing efforts by officials to ensure the success of the project through continuous meetings and motivational initiatives.
Comparing the establishment of SDB to the Bharat Diamond Bourse in Mumbai, which took 20 years to establish itself, officials stressed the importance of patience, highlighting that success for such a substantial project does not happen overnight.
With over 4500 offices and a substantial investment of Rs 4500 crore, Surat Diamond Bourse is positioned as the world’s largest office building. Navdiya underlined the positive growth potential, particularly during bullish stock market periods, dismissing concerns about the bourse’s haunted status.
Laljibhai Patel, the director of Surat Diamond Bourse, confirmed plans to initiate operations in 500 to 600 offices from May 10, 2024, underscoring the commitment to making the project a success. Patel also acknowledged the significance of promptly completing furniture work.
Given that Surat Diamond Bourse is Prime Minister Narendra Modi’s dream project, there is optimism that recent developments, such as the inclusion of diamond tycoon Govindbhai Dholakia in the Rajya Sabha, will provide political representation and a better understanding of industry challenges. Promoters express hope that these factors will contribute to overcoming the current phase of challenges and ensuring the success of the project.
