Indian Prime Minister Narendra Modi on Sunday (December 17, 2023) officially inaugurated the Surat Diamond Bourse, a facility that is now bigger than the Pentagon, which was the largest office space globally.
Spanning a constructed area of 6.7 million square feet, the Surat Diamond Bourse complex was finished in July at an estimated total cost of INR 34 billion (Rs 3,400 crore). In comparison, the iconic Pentagon, established in 1943, covers an area of 6.5 million square feet.
The Surat Diamond Bourse opening today was complemented by the opening of a new international terminal building at Surat Airport, enhancing the business competitiveness of Surat city.
In a statement, the Prime Minister’s Office (PMO) said that the Surat Diamond Bourse would be the world’s largest modern centre for the international diamond and jewellery business.
The bourse (or exchange) includes a cutting-edge ‘Customs Clearance House’ for import-export activities, a jewellery mall catering to retail jewellery businesses, and a dedicated space for international banking services and secure vaults.
In August, the building, which is part of the Diamond Research and Mercantile (DREAM) City, was recognised by the Guinness Book of World Records as the largest office building in the world.
Construction of the Surat Diamond Bourse commenced in February 2015 and was completed in 2022.
The structure has the capability to accommodate nearly 4,500 diamond trading offices.
Situated on a 35.54-acre plot, this monumental complex features nine ground towers and 15 floors, offering office spaces ranging from 300 sq ft to 1 lakh sq ft. The nine interconnected rectangular towers are linked by a central spine.
Notably, the building has been given a platinum ranking from the Indian Green Building Council (IGBC).
A significant development is the relocation of billionaire diamond trader Vallabhbhai Lakhani, the Director of Kiran Gems, who has transferred his Rs 17,000-crore business to the Surat Diamond Bourse, as reported by India Today. He is in the process of setting up a mini-township to provide housing for his employees.
PM inaugurates new integrated terminal at Surat Airport
Indian PM Narendra Modi also inaugurated the new integrated terminal at Surat Airport today.
The terminal building is equipped to handle 1,200 Domestic passengers and 600 International passengers during peak hours. It has the provision of further increasing the peak hour capacity to 3,000 passengers with an annual handling capacity increasing to 55,00,000 passengers.