The Surat Diamond Bourse, inaugurated recently, has taken the crown away from The Pentagon in the United States as the largest office space in the world. At 7,100,000 sq ft, the Surat Diamond Bourse aims to expand Surat as the primary diamond trading hub of the country.
India is the largest processor and exporter of diamonds in the world. 98% of all the diamonds on earth pass through the Bharat Diamond Bourse in Mumbai and now the Surat Diamond Bourse, in order to be cut, polished, processed, and exported to distribution areas like Antwerp and London. The utterly massive project was undertaken and finished in record time, with the foundation being laid in 2015 to inauguration on 17th December 2023.
Surat has always been well established as a diamond processing hub in the world. However, the trading operations have been carried out from the commercial hub of Bandra Kurla Complex in Mumbai. Moving the majority of trading to Surat aims to cut down on transport and security costs because processing and trading are now going to take place in the very same building, rather than two different states. The bourse is set to revolutionise the diamond industry, providing a centralised platform for diamond processing, trading and collaboration by taking advantage of well established diamond trade practices and proximity to large sea ports and shipping hubs.
The entire facility spans for 6.6 million square feet and accommodates over 4700 commercial spaces of various kinds, ranging from 300 square feet to 1,15,000 square feet. The facility accommodates the largest customs clearance centre in India, spanning 60,000 square feet. Positioned strategically in the basement of the Surat Diamond Bourse (SDB), the customs office is responsible for supervising the export of precious diamonds to multiple countries.
The SDB is equipped to handle a flow of up to 67000 employees per day. This building is a marvel because it is not only an office building for desk jockeys, but also an industrial manufacturing hub, giving space to skilled diamond artisans, polishers and jewellers. But wait…there's more. The SDB Administrative Committee plans to auction 27 retail spaces in a 50,000 sq ft space to establish a Diamond Jewellery Mall and will feature several international and local jewellery brands.
This boom in the economy has given real estate developers an opportunity to expand their projects in surrounding areas. Roongta Developers is at the forefront of this opportunistic development, with their wide range of commercial and industrial real estate projects. The Roongta Shopping Centre and the Roongta Signature are commercial hubs placed strategically in the heart of Surat. The Roongta Industrial Estate in Palsana offers a wide range of industrial sheds and warehouses for manufacture, storage and export facilites.
The Surat Diamond Bourse stands as a testament to innovation and efficiency. With its strategic location, cutting-edge facilities, and ambitious plans, it promises to reshape the diamond trade, streamline operations, and foster collaboration. This dynamic initiative is poised to propel Surat to the forefront of the international diamond trade, setting new standards for the industry and solidifying its position as a global diamond hub.
