KOCHI: Amid concerns of a slowdown in the IT industry in the state, the government is moving ahead with development of 33.5 acres of land it had acquired from Traco Cable Co Ltd in Irumpanam. According to a top official in the IT department, the land parcel, which has been renamed Infopark Phase 4, has been divided into three holdings to be developed separately by three major property development players. Traco Cable is a sick state public sector unit (PSU).
According to sources in the real-estate sector, discussions are in the final stages with Bengaluru-based Brigade Group. This comes as Prestige and Embassy have expressed interest in developing infrastructure in the other two holdings. “However, details on how much land will be allotted to each player will be revealed at a later stage,” they said.
Brigade already has several buildings in Infopark Kochi, including the twin-tower World Trade Center (WTC) in Phase 1 with a combined built-up area of 7.7 lakh sqft. The developer is also constructing another tower in Phase I.
Prestige has an office space in SmartCity Kochi. If things pan out, Embassy will have its second property in the state, after one in Technopark, Thiruvananthapuram.
Meanwhile, things are still moving at a snail’s pace on Infopark Phase 3. The state government is still considering pooling land for the project, an IT department official said. “We will conduct discussions with residents and try to on-board stakeholders,” he said.
The official also termed as totally unfounded allegations that IT Minister P K Kunhalikutty is not giving due importance to projects in Kochi. “There is no discrimination. The minister accords due importance to all regions, with particular emphasis on Kochi and Thiruvananthapuram. Kozhikode has gained traction thanks to the diaspora in the Gulf region.
The plan is to develop Kozhikode as Keralam’s next major technology destination, alongside Kochi and Thiruvananthapuram,” he added. According to him, Kochi and Thiruvananthapuram remain highly attractive destinations for global capability centres (GCCs). “We are focusing on strengthening the state’s technology ecosystem, with various programmes and projects,” he said.
The expansion of Infopark Kochi became a necessity after demand for space in Phase I and II outgrew availability. Established in 2004, Phase I and II have over 582 companies operating in IT/ITES, AVGC-XR, and other cutting-edge sectors. employing more than 70,000 professionals. The two phases boast a total of 9.2 million sqft of built-up space, with flexible spaces for businesses.
The Early Links
Infopark Phase I and II
582+ companies operating in IT/ITES, AVGC-XR, and other cutting-edge sectors
70,000+ professionals driving innovation and global solutions
9.2 mn sqft of built-up space, with flexible office spaces for businesses of all sizes
Plug-and-play & bare-shell offices: Fully equipped for startups and enterprises
Land parcels for long-term leases: Ideal for building IT campuses
Phase 4
Coming up on 33.5-acre land holding acquired from Traco Cable Co
Proposed to be divided into three holdings (sizes not disclosed)
Discussions ongoing with real-estate developers Brigade, Embassy and Prestige