250 Surat Bourse Offices to Open Next Month
June 23, 24(IDEX Online) - The troubled Surat Diamond Bourse (SDB) says it is now working towards having 250 offices open and operating by early next month.
That's still only a fraction of the building's 4,200 capacity. SDB, recognized by Guinness World Records as the largest office building in existence, opened last November but remains virtually empty and has been described as a ghost town.
"At present, the furniture and other infrastructure of 250 offices is complete while we are following up with some other office owners in which furniture work is continuing, said Lalji Patel vice-president of the SDB committee, according to a Times of India report. "This will be a major boost for the bourse."
Critics say the new bourse, built at a cost of around $400m,has alienated the trading community by failing to include a dedicated trading hall.
Kiran Gems, described as the world's largest rough diamond manufacturer, relocated to SDB when it opened for business, but moved most staff back to Mumbai within weeks.
As the SDB struggles to attract tenants, the rival Bharat Diamond Bourse (BDB) 175 miles away in Mumbai,is reported to be reparing for a 1,000-office expansion.