Gujarat’s GiIFT City (Gujarat International Finance Tec-City) has got a new Australian member. After the University of Wollongong, another Australian University, the Deakin University has announced to open its campus at Gandhinagar’s GIFT City. Deakin University and the University of Wollongong, both Australian government universities, are the first foreign education institutions to do so.
The Australian university’s Vice President, Iain Martin, announced that the institutional campus will start its academic programs in July 2024. The vice president also added that the Indian students studying on the university campus will have the option to migrate to their home country and continue their academics without any break.
The Australian Prime Minister, Anthony Albanese, in the presence of Indian Prime Minister, Narendra Modi, announced the Australian university’s entry into Gujarat’s GIFT City during his visit to Ahmedabad on 08th March 2023.
Deakin University, a renowned public university in Australia that has been ranked 266 in the QS Global Rankings 2022, has recently announced its plan to invest a whopping 4 million Australian dollars to establish a brand new international branch campus in GIFT City.
The campus is expected to span over 25,000 square feet and will be fully equipped to offer two highly sought-after Master's programs - one in professional Cybersecurity and the other in Business Analytics. This strategic move will not only enhance the university's global presence but also enable students from across the globe to gain access to world-class education in these cutting-edge fields.
Nila Spaces intends to provide a campus that spans over 25,000 square feet by the end of this year. The management of the initial campus, HaS (HQ As a Service), will be handled by DevX. Additionally, Nila Spaces is currently developing a commercial space of approximately 50,000 square feet at GIFT City, which will cater to the office infrastructure needs of various companies.
The director of Nila Spaces, Deep Vadodaria, is thrilled about the partnership and has ensured that the accelerator at GIFT City will offer a well-planned working environment. The accelerator will be equipped with natural light, a grand atrium, and common amenities to promote a productive work culture. Starting in 2024, Deakin University will offer courses in cyber security and business analytics, with a total of 60 students per course.
As per recent reports, the current count of Indian students pursuing education in Australia is estimated to be around 70,000 students. It is also noteworthy that over the past 17 years, the number of students who have studied in Australia has surpassed 1.5 million. Furthermore, the presence of approximately 1,700 teachers with Indian heritage further highlights the strong cultural ties between the two nations.
Iain Martin also added that students would have to meet the same entry requirements as the Australian campuses for enrolling in the GIFT City’s campuses, which includes possessing a strong undergraduate degree, relevant work experience, and passing an English language assessment. The programs follow a consistent trimester structure and timeline, with intakes available in February, July, and October. This ensures a smooth and effortless transition between their campuses in Gujarat and any of the five Australian locations, making studying abroad a seamless experience for the students.
Applications for Deakin University will open towards the end of 2023, and faculty recruitment will begin in mid-2023. Approximately 80% of the faculty will be sourced from India, while the other 20% will be from Australia. Indian faculty members can also access opportunities at Deakin's home campuses.
The university initially plans to admit 50-60 students, with the goal of gradually increasing that number to almost 100. Although the exact tuition fee has not been determined yet, it is expected to be half the amount charged by Deakin for their campuses located in Australia.
Deakin University is able to plan a launch as early as next year due to several factors, including the presence of schools, affordable housing, hotels, and recreational facilities within GIFT City. Professor Martin noted that the IFSC norms announced last October for foreign campuses, which require regulations and standards to be consistent with the home campus, make the opportunity even more appealing.
Final Words
The popularity of GIFT City is increasing at its highest speed. With so many foreign companies, banking institutes and academic institutes, GIFT City has become a foreign investment magnet. The increasing number of foreign investments has significantly boosted the demand for commercial properties in GIFT City.
9 out of 10 firms have made up their mind to move their business to GIFT City. Hence the number of offices for sale, retail shops and showrooms is increasing day by day.
With this data, this is the right time to invest in properties in GIFT City. Contact the real estate experts at RES Management and acquire a commercial property at the primest location of Ahmedabad city.
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