THIRUVANANTHAPURAM: At a time when IT companies across the globe are busy downsizing, Infopark is springing a pleasant surprise.
Phase I of Koratty Infopark, near Thrissur, is to be launched on October 10 - that too with over 75 percent occupancy from day one.
It is not in spite of the global economic slowdown, but probably because of it, as the recession provided opportunities to small and medium scale companies to move in and look at costeffective options and newer markets like Australia, Germany, Spain and the Scandinavian countries. One of the first occupants of Infopark Koratty is Bluelab which is setting up a 10,000 sq ft unit exclusively for a new client from Australia.
``Out of 40,000 square feet of park space over 30,000 have already been leased out and concrete proposals are under consideration for the remaining space’’ Sidhartha Bhattacharya, CEO, Infopark, told the `Express’ in a chat here. The park has created a record of sorts with it getting operational within nine months after it was announced.
It was in January this year that Revenue Minister K P Rajendran formally launched the project. In exactly nine months, the project is ready to plug and play and ten companies including Bluelab Technology Solutions, Braddock Infotech Sahradya Infotech, Cent Technologies, Infoprism Solutions and Advaya Infotech Solutions would move in on October 10. The time-frame assumes significance against the fact that negotiations for Smart City at Kochi is inconclusive even after five years.
Koratty Infopark is the first park after Technopark Thiruvananthapuram and Infopark Kochi to be operational and also the first to go alive in the State Government’s `Hub and Spoke’ model of infrastructure development. The biggest advantage was the cottages and clubhouse built in traditional style, which belonged to Vagai Threads [formerly Madura Coats], in the 42 acres of land handed over by the Government.
The existing buildings were renovated and done up instead of being demolished and reconstructed. This helped in completing Phase I in record time.
Phase II would be operational in another three months and construction of Phase III - the Signature Campus - would begin in January 2010. This will be designed to blend with the existing architecture of the place and provide a beautiful and inspiring atmosphere for future companies.
The proximity of the Cochin International Airport and special initial rentals have helped in the successful marketing of the park. Special rates of Rs 30 per square feet was offered for readymade units and Rs 15 per square feet was offered for unfurnished ones.
This became quite an attractive proposition against Rs 45 and Rs 30 respectively for similar units in Infopark, Kochi.
The Signature Campus would be of 200,000 sq ft and the focus will be on to create a telecom innovation hub here, said Sidhartha Bhattacharya. In the next 2-3 years, Koratty Infopark is expected to become a major park employing nearly 8,000 people.