SBI Invites Bids for ₹253 Crore Residential Twin Towers Project at GIFT City, Gujarat

State-owned lender State Bank of India has invited bids for the composite construction of residential twin towers at Block No 41 in GIFT City, marking another significant institutional-led development in Gujarat’s flagship financial hub.

According to tender details, the project involves end-to-end construction and commissioning of modern residential towers designed to meet contemporary urban living standards. The scope of work covers civil construction along with plumbing and sanitary installations, electrical systems, firefighting infrastructure, HVAC, security equipment, lifts, integrated building management systems, landscaping, and other allied services.

The total contract value is estimated at around ₹253.33 crore, underlining the scale of investment being channelled into residential infrastructure within GIFT City. The project is expected to support the growing demand for high-quality housing as the financial district attracts professionals, institutions, and global businesses.

SBI has specified a total execution period of 42 months for the project. This timeline includes monsoon seasons and notified holidays, reflecting realistic construction planning. The execution period will commence from the date of the work order along with a 15-day mobilisation window, or from the date of site handover to the selected contractor, whichever occurs earlier.

The bid submission deadline has been fixed for January 28, 2026, giving prospective contractors adequate time to evaluate technical requirements and prepare competitive proposals. Industry players with experience in large-scale residential and mixed-use developments are expected to participate actively in the tendering process.

GIFT City has emerged as a key growth centre for financial services, fintech, and institutional operations, driving demand for integrated residential and commercial infrastructure. Projects backed by major institutions such as SBI are seen as confidence boosters for developers and contractors operating in the region.

With this tender, SBI continues to play a role beyond banking by facilitating long-term infrastructure creation. The residential twin towers project is expected to contribute to GIFT City’s evolving urban ecosystem while generating sustained construction activity over the next three and a half years.