"Colliers Nearing Agreement to Build Infibeam's AI Expansion Hub in Ahmedabad"

According to official sources, real-estate consultancy firm Colliers is positioned as the primary contender to secure the $10-million contract for erecting Infibeam Avenues’ Artificial Intelligence and Technology Extension Hub in Ahmedabad. The center in Ahmedabad is intended to complement Infibeam Avenues’ planned AI Hub in Gift City, located in nearby Gandhinagar. Sources close to the development revealed that the construction of this extension is scheduled to be finalized within 18 months.

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

"The Ahmedabad campus, serving as an extension of GIFT city’s AI Hub, will feature the company’s in-house team and accommodate strategically invested AI and technology businesses under one roof, fostering synergy and innovation within the ecosystem," sources explained. "As part of the 'symbiotic' framework, AI and tech companies will have dedicated space within the AI & Tech Hub, promoting collaborative work. This strategic location will empower enterprises to offer specialized products and services, enriching Infibeam Avenues’ AI operations. Concurrently, the company will provide comprehensive support to nurture these businesses, enabling independent growth while contributing to a thriving AI ecosystem."

In January 2024, Infibeam Avenues inked a memorandum of understanding (MoU) with the Gujarat government, outlining a proposed investment of ₹2,000 crore in its Artificial Intelligence (AI) Hub at GIFT City by the fiscal year 2030. This investment aims to develop cutting-edge vision AI technology for payments and platforms tailored for retailers, the company stated. Infibeam Avenues officially named its AI Hub located at GIFT City, Gandhinagar, as ‘Phronetic.ai’.

HBL