Infrastructure sector projects by SmartCity India in
Project Information
5717
SmartCity India
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<p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F">After starting work on its Rs
5,000-crore Kochi project, Dubai-based SmartCity India is keen on setting up a
much larger facility that could spread up to 1,000 acres, preferably in North
India.</span></p><p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F"><br></span></p>
<p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F">“Having stabilised the SmartCity
Kochi project with the first phase of 650,000 sft property getting ready by
December and the work on another 3.6 million sft to be launched soon, we are
keen on looking for a similar but much larger project elsewhere in the country,
preferably in the North. Our plan is to develop a new SmartCity project
spanning 500-1,000 acres,” SmartCity India MD Baju George told .
However, he did not specify the investment size saying it is too early to
comment on that.</span></p><p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F"><br></span></p>
<p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F">Considering the possible size of
the project, it could be well over Rs 10,000 crore. The 246-acre Kochi project
has capex of Rs 5,000 crore.</span></p>
<p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F">SmartCity Kochi is a cluster of
futuristic buildings planed to house the ICT, media, finance, research &
innovation giants from across the world in a 246-acre knowledge hub. SmartCity
is the international business parks arm of Dubai Holding.<span style="mso-spacerun:yes"> <br></span></span></p><p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F"><span style="mso-spacerun:yes"><br></span></span></p>
<p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F">George, who is also the head of
SmartCity Kochi as its MD, said the company will finalise the plans after
forthcoming general elections. When asked if Delhi NCR could be a potential
location, George said: “Any location that can offer connectivity and a pool of
raw talent will be okay with us. We are not looking at a well-developed IT
centres like Pune or Hyderabad but not so developed areas, but good
connectivity is a pre-condition.”<span style="mso-spacerun:yes"> <br></span></span></p><p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F"><span style="mso-spacerun:yes"><br></span></span></p>
<p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F">The proposed SmartCity will be
self-contained knowledge townships. “Like the Kochi project, there will be
full-fledged digital master plan to ensure inter-operability so that the
project is really smart and efficient,” George added.</span></p>
<p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F">The Kerala government holds 16 per
cent equity in Kochi SmartCity project, while the rest is held by Tecom
Investments, a subsidiary of Dubai Holding. Once completed, the project will be
at least 8.8 mn sft developed area and is expected to create over 90,000 direct
jobs.<span style="mso-spacerun:yes"> <br></span></span></p><p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
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<p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
font-family:"Georgia","serif";color:#3F3F3F">George said though the mandate is
to have 8.8 million sft, the objective is to take this to 14 millionsft of
developed area over the next five years. The company held a road show in
Bangalore last month to attract both tenants and builders and another roadshow
will be held in Mumbai in June to attract bankers, media etc, George said,
adding SmartCity is not a construction or realty company but creating
knowledge-based habitats and offices.<span style="mso-spacerun:yes"> <br></span></span></p><p style="line-height:15.0pt;background:white"><span style="font-size:11.5pt;
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mso-fareast-language:EN-US;mso-bidi-language:AR-SA">He said the work on the
first 650,000 sft has already started and once commissioned it will offer
direct jobs to 36,000 people.</span><!--[if gte mso 9]><xml>
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Project Value
INR 10000 Crore /-
Conceptual
Multi State
India
Infrastructure
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