The two showcase commercial projects worth over Rs. 600 crore
The corporation and the Greater Kochi areas would receive investments worth over Rs. 600 crore if the investors loosen the purse strings for the 12 projects placed before them at the two-day Partner Kerala investors’ meet that got under way here on Monday.
The Kochi Corporation showcased six projects worth Rs. 244 crore and the Greater Cochin Development Authority placed another six projects worth Rs. 360 crore for prospective investments under the Private Public Partnership model at the meet organised by the Department of Urban Affairs.
The corporation’s projects — ranging from commercial complexes to hubs at major points — have the potential to turn the city into a major commercial hub.
Commercial-cum-office complexes at Edappally and Kacherippady worth about Rs. 55 crore were among the projects unveiled at the meet. A premium commercial complex at Padiyathukulam at an investment of Rs. 19 crore, a premium commercial hub and city centre at Kaloor at Rs. 95 crore and a shopping complex at Manapattiparambu for Rs.20 crore.
GCDA was not far behind as it came up with proposals, including a world-class shopping mall at Manapattiparambu with a built-up area of 6 lakh sq.ft that includes entertainment zone and food court on 2.70 acres at an estimated cost of Rs. 181.89 crore and another mall on 1.70 acres at Ambedkar stadium at an estimated cost of Rs. 125.95 crore.
GCDA has also sought private assistance for its proposed regional sports complex at Mundamvelly which features an indoor stadium, swimming pool, tennis court, health club, commercial space, library and accommodation facility for players. The estimated cost is around Rs. 50.19 crore.
Marine Drive forms the fulcrum of three of GCDA’s projects. This includes a passenger ropeway at Marine Drive that would offer the public a panoramic view of the backwaters and surroundings. A tunnel marine aquarium and entertainment park at the land owned by GCDA behind the High Court was another project.
GCDA also plans to install a tethered helium balloon at Marine Drive ground.