The queen of the Arabian Sea is now a hot destination for real estate giants. What is unique to Kochi is, the city has attracted almost every domestic property developer worth its salt, and a slew of foreign companies, mostly from the Middle East.
Leading real estate developers like DLF, Sobha Developers, Ansals, Purvankara, Confident Group, Oceanus, Unitech, Nitesh Estates, Housing Development and Infrastructure (HDIL), Prestige Group, Emaar MGF and Parsvanath Developers have all descended upon Kochi, the financial and industrial capital of Kerala, during the last 6-8 months with a cumulative investment of over $2.5 billion.
Prominent among the Middle East-based business groups that have forayed into Kochi are KGA Group of Kuwait, EMKE Group of Abu Dhabi and Indroyal. Some of them are also investing in the hospitality sector to set up luxury hotels chains.
Property prices in the city have appreciated by around 60% in 2007. During the past six months, half-a-dozen developers have announced their plans to enter Kochi; many have already acquired huge parcels of land. “Property development and real estate activities have overshadowed the state’s booming tourism sector. This boom witnessed the emergence of many developers and projects,” an industry observer and a former builder said.
Recently, HDIL purchased a 70-acre plot from the government-owned HMT and announced its plans to set up an IT park at Kalamassery, near Kochi.
HDIL is also setting up a Cybercity in the HMT land, which will have IT space, hospitality, retail and entertainment projects. The total investment in the project is estimated to be around Rs 2,000 crore.
According to Kerala Builders Forum chairman George E George: “Till a decade ago, real estate activity of each city was driven by local builders.” The bigger players acquired the financial muscle to launch multi-city operations after they raised resources through public issue route. “Even then, many of them missed the bus in Bangalore and Chennai as the rates peaked before their entry,” he said. “I think they have spotted the opportunity in Kochi and are moving in early,” he added.
Sobha Developers is setting up the largest township in Maradu, Kochi, called the Sobha Hitech City. Maradu is a high-potential suburb of Kochi with commercial projects, 5-star hotels, shopping malls and IT projects. The total investment in the project is estimated at around Rs 5,000 crore.
Nitesh Shetty, CMD of Bangalore-based real estate firm Nitesh Estates, said the Kochi skyline has changed dramatically over the last few years and today it is one of the fastest growing cities in the country. “The city offers grand investment opportunities for real estate mainly due to reasons such as large NRI population who want to buy homes in Kochi and increasing IT jobs in the city,” he said. His company recently acquired around 5 acres of land in Kakkanad near Kochi.
Similarly, in 2006, India’s real estate giant DLF purchased 3.78 acres in Kochi from the state government for Rs 78 crore. The DLF Group is planning to build a shopping mall, a multiplex and a 250-room deluxe hotel in Kochi.
“Cochin is poised for a quantum leap. The commissioning of Vallarpadom international container tenninal and numerous IT parks will make Kochi the preferred destination for highly-paid executives,” a senior HDL official said.
Source: The Economic Times
http://propertybytes.com/?p=1825
Saturday, February 16, 2008
The Bangalore-based Sobha Developers Ltd is setting up a Rs 5,000-crore hi-tech city project in Kochi
The Bangalore-based Sobha Developers Ltd is setting up a Rs 5,000-crore hi-tech city project in Kochi to create an integrated city of world class standards with a focus on R&D, knowledge dissemination, electronics, IT and pure and applied sciences.
A memorandum of understanding in this regard will be signed between Mr J.C.Sharma, Managing Director, Sobha Developers, and Mr T. Balakrishnan, Principal Secretary, State Industries Department in the presence of Sobha Group Chairman, Mr P.N.C.Menon, and the Industries Minister, Mr Elamaram Kareem, at Thiruvananthapuram on Monday.
PPP INITIATIVE
Initiated by the Department of Industries and Commerce, the MoU seeks to reinforce the PPP (public private partnership) initiative by the Kerala Government to bring the highest-ever investment in the State, Mr P. Ramakrishnan, Regional Director (Kerala), Sobha Developers Ltd, said at a press meet here on Saturday.
The project, which will be developed in 8 years, will come up in Maradu near Kochi in an area of around 400 acres. It will include a 7 million sq ft knowledge park, retail shopping malls and avenues, hotels, resorts and other leisure facilities, residential complexes and all related infrastructure including a marina.
Source: The Hindu Business Line
http://propertybytes.com/?tag=kochi
A new hi-tech city on the anvil
Sobha Developers has signed a memorandum of understanding with the Kerala Government to build a Rs.5,000-crore hi-tech city in Kochi. The Sobha Group will develop an area of 400 acres under the brand name ‘Sobha Hi-Tech City’ and the Government has agreed to bring the project under single window clearance through which the Government will play the role of a facilitator for the implementation of the project.
The memorandum of understanding was signed on August 20 in Thiruvananthapuram. As per the agreement, the Government will also facilitate provisions for necessary utilities such as electricity, gas, water, sewerage system, communication, etc. Sobha Hi-Tech City will be an integrated city of world-class standards with focus on research and development, knowledge dissemination, information technology and pure and applied sciences.
The high-tech city will be located close to National Highway 47 bypass near Maradu in Kochi. It will have 7 million square foot of knowledge park, commercial space to provide business-friendly ambience within the city, hospitality and leisure projects, entertainment and amusement facilities, a marina of international standards and residential complexes with world-class amenities to provide work-life balance.
The Sobha Group will construct 30-meter-wide and 545-meter-long road connecting the existing main road to the Hi-Tech City. When completed, the Sobha Hi-Tech City would generate 75,000 direct jobs.
The project has been designed by a team of in-house architects at Sobha.
The project is expected to be complete in eight years depending on factors such as approvals and availability of materials, workmen etc.
The Chairman of the Sobha Group welcomed the Kerala Government’s support for the project expressed confidence that the hi-tech city would fulfil the aspirations of the people.
The project is expected to generate substantial employment opportunities apart from attracting fresh investments.
http://www.hindu.com/pp/2007/08/25/stories/2007082550360200.htm
A memorandum of understanding in this regard will be signed between Mr J.C.Sharma, Managing Director, Sobha Developers, and Mr T. Balakrishnan, Principal Secretary, State Industries Department in the presence of Sobha Group Chairman, Mr P.N.C.Menon, and the Industries Minister, Mr Elamaram Kareem, at Thiruvananthapuram on Monday.
PPP INITIATIVE
Initiated by the Department of Industries and Commerce, the MoU seeks to reinforce the PPP (public private partnership) initiative by the Kerala Government to bring the highest-ever investment in the State, Mr P. Ramakrishnan, Regional Director (Kerala), Sobha Developers Ltd, said at a press meet here on Saturday.
The project, which will be developed in 8 years, will come up in Maradu near Kochi in an area of around 400 acres. It will include a 7 million sq ft knowledge park, retail shopping malls and avenues, hotels, resorts and other leisure facilities, residential complexes and all related infrastructure including a marina.
Source: The Hindu Business Line
http://propertybytes.com/?tag=kochi
A new hi-tech city on the anvil
Sobha Developers has signed a memorandum of understanding with the Kerala Government to build a Rs.5,000-crore hi-tech city in Kochi. The Sobha Group will develop an area of 400 acres under the brand name ‘Sobha Hi-Tech City’ and the Government has agreed to bring the project under single window clearance through which the Government will play the role of a facilitator for the implementation of the project.
The memorandum of understanding was signed on August 20 in Thiruvananthapuram. As per the agreement, the Government will also facilitate provisions for necessary utilities such as electricity, gas, water, sewerage system, communication, etc. Sobha Hi-Tech City will be an integrated city of world-class standards with focus on research and development, knowledge dissemination, information technology and pure and applied sciences.
The high-tech city will be located close to National Highway 47 bypass near Maradu in Kochi. It will have 7 million square foot of knowledge park, commercial space to provide business-friendly ambience within the city, hospitality and leisure projects, entertainment and amusement facilities, a marina of international standards and residential complexes with world-class amenities to provide work-life balance.
The Sobha Group will construct 30-meter-wide and 545-meter-long road connecting the existing main road to the Hi-Tech City. When completed, the Sobha Hi-Tech City would generate 75,000 direct jobs.
The project has been designed by a team of in-house architects at Sobha.
The project is expected to be complete in eight years depending on factors such as approvals and availability of materials, workmen etc.
The Chairman of the Sobha Group welcomed the Kerala Government’s support for the project expressed confidence that the hi-tech city would fulfil the aspirations of the people.
The project is expected to generate substantial employment opportunities apart from attracting fresh investments.
http://www.hindu.com/pp/2007/08/25/stories/2007082550360200.htm
Tuesday, February 12, 2008
UST Global Expands Operations with a New Office in Kochi, India
CIO Magazine Writes "Bangalore is out. Kochi is in."
ALISO VIEJO, Calif. -- UST Global(SM), a leading provider of IT services and Business Process Outsourcing (BPO) solutions for Global 2000 enterprises, announced today that it opened a new office in Kochi, Kerala to further expand its Indian operations. The company's strategic focus on Tier 2 cities and the announcement of its new office in Kochi appears timely. CIO Magazine writes "Bangalore is out. Kochi is in." in a November 5, 2007 online article titled Outsourcing to Bangalore?The new 24,000 square foot development center at the Kochi Business Centre in InfoPark will offer IT, infrastructure management and business process outsourcing services. It will initially accommodate 250 people and up to 2,000 people when fully staffed. The company is committed to strengthening its operations in the Kerala region and cited four reasons why the area is ideally suited for IT service expansion: "For IT service providers such as UST Global that are in a growth mode, there are a multitude of cities in India in which to choose from. Yet with so many cities plagued by limited bandwidth, we consciously avoid those areas and instead choose cities that will support our, and our clients', best interests," said Sajan Pillai, president and COO, UST Global. "Kochi is one of three cities in India that is a hub for the undersea cable, which gives UST Global better connectivity and less competition for that bandwidth. This location aligns well with our client-centric Global Engagement Model by helping us expand our services in an economically viable way for our clients." InfoPark, an information technology park promoted by the government, is situated in a 100-acre campus. The new UST Global office is located on the first floor of the new Vismaya building which has an intelligent building management system, multi-cuisine food vendors, health club, medical facilities, travel desk, ATMs and covered parking. The new Kochi office is located at: 1st Floor, Vismaya Building
Infopark, Kusumagiri PO
Kakanad, Kochi- 682030
Phone: +91 484.404.0000
About UST Global UST Global(SM) is a leading provider of end-to-end IT services and BPO solutions for the Global 2000 market. UST Global offers a client-centric Global Engagement Model that provides the optimal mix of senior local resources with the cost, scale and quality advantages of offshore operations for each client. The company is known for its relentless focus on clients, flexibility, and commitment beyond contract. Headquartered in Aliso Viejo, California, UST Global has more than 5,000 employees worldwide and is certified globally as CMMI([R]) Level 5, P-CMM([R]) Level 5, and ISO 27001. For more information visit: www.ust-global.com.
http://www.allbusiness.com/technology/computing-information-technology-overview/5329378-1.html
ALISO VIEJO, Calif. -- UST Global(SM), a leading provider of IT services and Business Process Outsourcing (BPO) solutions for Global 2000 enterprises, announced today that it opened a new office in Kochi, Kerala to further expand its Indian operations. The company's strategic focus on Tier 2 cities and the announcement of its new office in Kochi appears timely. CIO Magazine writes "Bangalore is out. Kochi is in." in a November 5, 2007 online article titled Outsourcing to Bangalore?The new 24,000 square foot development center at the Kochi Business Centre in InfoPark will offer IT, infrastructure management and business process outsourcing services. It will initially accommodate 250 people and up to 2,000 people when fully staffed. The company is committed to strengthening its operations in the Kerala region and cited four reasons why the area is ideally suited for IT service expansion: "For IT service providers such as UST Global that are in a growth mode, there are a multitude of cities in India in which to choose from. Yet with so many cities plagued by limited bandwidth, we consciously avoid those areas and instead choose cities that will support our, and our clients', best interests," said Sajan Pillai, president and COO, UST Global. "Kochi is one of three cities in India that is a hub for the undersea cable, which gives UST Global better connectivity and less competition for that bandwidth. This location aligns well with our client-centric Global Engagement Model by helping us expand our services in an economically viable way for our clients." InfoPark, an information technology park promoted by the government, is situated in a 100-acre campus. The new UST Global office is located on the first floor of the new Vismaya building which has an intelligent building management system, multi-cuisine food vendors, health club, medical facilities, travel desk, ATMs and covered parking. The new Kochi office is located at: 1st Floor, Vismaya Building
Infopark, Kusumagiri PO
Kakanad, Kochi- 682030
Phone: +91 484.404.0000
About UST Global UST Global(SM) is a leading provider of end-to-end IT services and BPO solutions for the Global 2000 market. UST Global offers a client-centric Global Engagement Model that provides the optimal mix of senior local resources with the cost, scale and quality advantages of offshore operations for each client. The company is known for its relentless focus on clients, flexibility, and commitment beyond contract. Headquartered in Aliso Viejo, California, UST Global has more than 5,000 employees worldwide and is certified globally as CMMI([R]) Level 5, P-CMM([R]) Level 5, and ISO 27001. For more information visit: www.ust-global.com.
http://www.allbusiness.com/technology/computing-information-technology-overview/5329378-1.html
Saturday, February 9, 2008
California-based IT major Digital Liberty Group (DLG takes over Cochin(KOCHI) based IT Firm
Digital Liberty Group (DLG), Friday announced it taking over 55 percent stakes in the Kochi-based Comprehensive Software Solutions and Services (CS3).
DLG, one of the world's fastest growing companies, has diversified business interests across the globe and is operating in the fields of IT, real estate, hospitality, global investments and genetic engineering.
CS3 has been instrumental in providing high-end software solutions to leading utilities and vertical markets ever since its inception in 2002.
Announcing the takeover, O.K. Sanjit, chairman of DLG, said they have been pursuing global investment opportunities, especially in the emerging markets.
The company is committed to maintaining its active presence in the most vibrant markets such as India, China, Japan and the Gulf countries apart from the US, he added.
'We are strengthening our presence in the Indian IT sector with this takeover and many more will come in the next few months,' said Sanjit.
B. Vinoj, managing director, CS3, said this was an opportunity for CS3 and its customers to gain access to global quality software solutions and services.
'This will also provide CS3 workforce an opportunity to be part of global software initiatives, including prospect to work on live onsite projects,' said Vinoj.
Both DLG and CS3 are working towards consolidating the merger process and once it is through, CS3 will go in for a re-branding exercise targeted towards positing it as a DLG group company.
CS3 will also undergo a revamp by adding 150 top quality IT professionals.
http://www.indiaenews.com/business/20080208/96587.htm
DLG, one of the world's fastest growing companies, has diversified business interests across the globe and is operating in the fields of IT, real estate, hospitality, global investments and genetic engineering.
CS3 has been instrumental in providing high-end software solutions to leading utilities and vertical markets ever since its inception in 2002.
Announcing the takeover, O.K. Sanjit, chairman of DLG, said they have been pursuing global investment opportunities, especially in the emerging markets.
The company is committed to maintaining its active presence in the most vibrant markets such as India, China, Japan and the Gulf countries apart from the US, he added.
'We are strengthening our presence in the Indian IT sector with this takeover and many more will come in the next few months,' said Sanjit.
B. Vinoj, managing director, CS3, said this was an opportunity for CS3 and its customers to gain access to global quality software solutions and services.
'This will also provide CS3 workforce an opportunity to be part of global software initiatives, including prospect to work on live onsite projects,' said Vinoj.
Both DLG and CS3 are working towards consolidating the merger process and once it is through, CS3 will go in for a re-branding exercise targeted towards positing it as a DLG group company.
CS3 will also undergo a revamp by adding 150 top quality IT professionals.
http://www.indiaenews.com/business/20080208/96587.htm
Thursday, February 7, 2008
Kalamasserry(COCHIN) HDIL Cyber City Issue - Minister K.P Rajendran Interview
This IT project was under alot of controversy generated by the broadcat media. Controversies like this are nothing new in KERALA.Its just something that investors have to get used to. There is always a initial resistance after that they will embrace. Bad publicity is better than no publicity.
Rs.4,000 crores Cybercity planned at Kalamasserry(COCHIN)State’s first integrated information technology (IT) township
KOCHI, Kerala: Housing Development and Infrastructure Limited (HDIL), through its subsidiary Blue Star Realtors Private Limited, has announced plans to construct HDIL Cybercity at Kalamasserry here. This will spread across an area of 70 acres (which belonged to the public sector Hindustan Machine Tools ) and will be the State’s first integrated information technology (IT) township, having besides IT/ITES, residential apartments, villas, schools, shopping malls, multiplex, club house, service apartments and a star hotel.
The foundation stone will be laid by Chief Minister V.S. Achuthanandan on January 19. HDIL plans to invest Rs.4,000 crores in this project over a four-year period, said Rakesh Kumar Wadhawan, chairman. “By constructing HDIL Cybercity at Kalamasserry, HDIL proposes not only to create a world class IT hub in Kerala, but also to provide 60,000 direct and 1,50,000 indirect jobs at Kochi,” Mr. Wadhawan said. The Cybercity will have a built up area of 80 lakh sq. ft. It is the first flagship IT project of the company in Kochi. When completed, it will be the first and only integrated IT township in Kerala, claims a press release. The mega city of 70 acres will be developed into various zones of residential, IT, commercial, hotel, social and infrastructural amenities. The press note pointed out that Kochi has been ranked as the second most favoured IT & ITES destination by NASSCOM and is a bustling industrial centre with industries ranging from ship building to handicrafts and petro-chemical, and refining to spice trading. Some of the top IT companies have plans to set up campus in Kochi in the next three to five years. NASSCOM has projected about five lakh IT/ITES job opportunities in the State.
http://www.keralanext.com/news/?id=400252
The foundation stone will be laid by Chief Minister V.S. Achuthanandan on January 19. HDIL plans to invest Rs.4,000 crores in this project over a four-year period, said Rakesh Kumar Wadhawan, chairman. “By constructing HDIL Cybercity at Kalamasserry, HDIL proposes not only to create a world class IT hub in Kerala, but also to provide 60,000 direct and 1,50,000 indirect jobs at Kochi,” Mr. Wadhawan said. The Cybercity will have a built up area of 80 lakh sq. ft. It is the first flagship IT project of the company in Kochi. When completed, it will be the first and only integrated IT township in Kerala, claims a press release. The mega city of 70 acres will be developed into various zones of residential, IT, commercial, hotel, social and infrastructural amenities. The press note pointed out that Kochi has been ranked as the second most favoured IT & ITES destination by NASSCOM and is a bustling industrial centre with industries ranging from ship building to handicrafts and petro-chemical, and refining to spice trading. Some of the top IT companies have plans to set up campus in Kochi in the next three to five years. NASSCOM has projected about five lakh IT/ITES job opportunities in the State.
http://www.keralanext.com/news/?id=400252
Thursday, January 10, 2008
Group from Taiwan visits Cochin for site for 2,000 acre Electronics City.
KOCHI: After Smart City, now it is the turn of Electronic City. Representatives comprising high officials of AmerAsia Ventures Corporation visited a few locations in Kochi to set up the endeavour.
The seven-member Thai team, led by Michael Chan, held talks with government officials at Infopark on Monday.
IT Secretary AjayaKumar, Industrial Secretary T.Balakrihnan, District Collector A.P.M. Mohammed Hanish, KSEB Chief Engineer Girija Devi, Pollution Control Board Chief Engineer Maithili and Infopark officials attended the meeting.
Sources said that the team was looking for a place having airport within 25 to 35-km diameter.
Thai team planning to establish hardware industries, including semi-conductor and allied industries, is known to have expressed their positive approach for setting up the project in Kochi.
The team will hold discussions with the government officials in Thiruvananthapuram and New Delhi later.
The Rs 3,000 crore Electronic City is being planned to be set up in 2,000 acres. IT Secretary told this website's newspaper that it is nothing but a primary meeting. “The government is yet to take a decision in this regard,” he said.
http://www.newindpress.com/NewsItems.asp?ID=IEX20071217223854&Page=X&Headline=Thai+team+visits+Kochi&Title=Kochi&Topic=0&
The seven-member Thai team, led by Michael Chan, held talks with government officials at Infopark on Monday.
IT Secretary AjayaKumar, Industrial Secretary T.Balakrihnan, District Collector A.P.M. Mohammed Hanish, KSEB Chief Engineer Girija Devi, Pollution Control Board Chief Engineer Maithili and Infopark officials attended the meeting.
Sources said that the team was looking for a place having airport within 25 to 35-km diameter.
Thai team planning to establish hardware industries, including semi-conductor and allied industries, is known to have expressed their positive approach for setting up the project in Kochi.
The team will hold discussions with the government officials in Thiruvananthapuram and New Delhi later.
The Rs 3,000 crore Electronic City is being planned to be set up in 2,000 acres. IT Secretary told this website's newspaper that it is nothing but a primary meeting. “The government is yet to take a decision in this regard,” he said.
http://www.newindpress.com/NewsItems.asp?ID=IEX20071217223854&Page=X&Headline=Thai+team+visits+Kochi&Title=Kochi&Topic=0&
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