SmartCity Kochi on fast track, leases out 80% of IT building

SmartCity Kochi has so far invested around ₹325 crore on setting up its IT building in the first phase and accompanying infrastructure along the project site, SmartCity Kochi Chief Executive Officer Manoj Nair has said.

Speaking to The Hindu here on Friday, Mr. Nair said that the first phase was not just about the IT building but included infrastructure facilities spread over 30 acres, including a 7-km four-lane road and power sub-stations.

Providing infrastructure facilities, including water, power, and transportation to the SmartCity area remains the company’s top priority for the time being.

A mobility hub is being planned on 16 acres within the project site, the exact location of which will be decided once the alignment of the Kochi metro to Kakkanad is finalised. “We have already started talking to the District Collector and Kochi Metro Rail Limited [KMRL] on how to improve transportation, especially water transportation, to ease pressure on commute when the second phase of SmartCity springs into life,” Mr. Nair said. A proposal has been placed before KMRL for setting up two jetties, and its officials have already visited the site.

Two 33/11kV substations being built will be commissioned by the month of August making power available by December.

Meanwhile, 80% of office space in the 6.50 lakh sq ft-IT building under the first phase of the project has already been leased out leaving out just about 40,000 sq ft. The first phase employs around 2,000 people by 20-odd companies, and the number is expected to touch 5,000 once the entire space is fully equipped. Ernst and Young is among the companies set to take space in the building. Besides, 63,000 sq ft of retail space is also being opened up depending on demand.

Around 55 acres, out of the 85 acres of leasable land in plot A, have been taken over by co-developers, in addition to 16 acres reserved for SmartCity facilities. SmartCity Kochi is proposed on 246 acres spread over three parcels of 131 acres, 101 acres, and 14 acres.

Mr. Nair said that SmartCity Kochi had held preliminary talks with the State government on providing a centre for promoting start-ups without violating the Special Economic Zone regulations.

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Printable version | Jan 20, 2022 4:05:34 AM | https://www.thehindu.com/news/cities/Kochi/smartcity-kochi-on-fast-track-leases-out-80-of-it-building/article22913407.ece

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