Brigade Enterprises, a Bangalore-based real estate developer, has bagged 5 acres in Kochi to build up IT office space. The company acquired the land in the processing area of Kochi’s Info Park Special Economic Zone (SEZ).
Government of Kerala will develop IT Park in Kochi which will be known as Info park. For the project, the government has transferred hundred acres of land which is at present under the ownership of Info parks Kerala, an independent society owned by the state government.
“We have just got the bid and it is under the planning junctures to establish the price of the project. The built-up area is likely to be just about 4-5 lakh sq feet of IT office space and Brigade will co-develop the space along with Info Park, Kochi,” a senior Brigade company official said.
IT office project investment in Kochi is part of the company’s expansion plans in South India. The company all these years had been focusing only in Bangalore and Mysore, catering to IT and BPO sectors.
“This is for the first time we are increasing our base after having gained enough knowledge and expertise in managing a large number of domestic and global firms as our clients,” the official said.
The board of directors of Puravankara Projects has recommended a final dividend of forty percent, or two rupees share on equity share of five rupees each for the recent year. The payment is subject to the sanction of the shareholders at the yearly general meeting.
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By Rajani
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Posted in Property News
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Also tagged Bse, Colombo, Company, Company Shares, Constructions, Dividend, Equity, General Meeting, Hyderabad, India, Project, Puravankara Projects, Real Estate, Sanction, Share, Sri Lanka, United Arab Emirates
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Chandigarh: DLF, a leading real estate player in the country, plans to invest Rs 1,250 crore for the development of its multiplex business. The company has planned to add minimum 500 screens in the next four to five years across the country.
DLF’s entertainment arm DT Cinemas will set up a megaplex, which will have 12 screens with a total capacity of 2,500, as part of their upcoming project, Mall of India, at Gurgaon.
Expected to be one of the country’s biggest malls, it will cover an area of 40 lakh sq ft.
DT Cinemas announced the opening of their multiplex at DLF Infocity, IT Park, Chandigarh. Infocity covers an area of 1,90,000 sq ft and most of the space has been leased out. The mall will start operating within the next 10-12 days.
Kajal Aijaz, CEO, DT Cinemas, said that with the multiplex offering state-of-the-art facilities like Christie cinema projection system, excellent acoustics, wall-to-wall carpeting, extra legroom with comfortable slideback seating and push back armrests for the audience, they were eyeing about 66 per cent occupancy at the multiplex in the first year.
With DLF planning to set up another 120 malls in different parts of the country, DT Cinemas would be the chief attraction in most of these malls.
Apart from Ludhiana and Jalandhar, where multiplexes would be opened in a couple of years, the company is also opening multiplexes at Savitri-GK2, Shalimar Bagh, Vasant Kunj and Saket in Delhi and Star Mall, Gurgaon, this year, Aijaz said.
DT Cinemas will also set up multiplexes in Hyderabad, Chennai, Kochi, Bangalore, Mumbai, Pune, Ahmedabad, Goa and Kolkata.
By manish
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Posted in Property News
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Also tagged Ahmedabad, Bangalore, Chandigarh, Chennai, DLF, DLF Infocity, Goa, Gurgaon, Hyderabad, IT Park, Kolkata, Mumbai, Pune, Savitri-GK2, Shalimar Bagh, Vasant Kunj and Saket in Delhi and Star Mall
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KOCHI: The Dewa Group promoted by NRI businessman K Venugopalan Nair is foraying into the real estate sector in Kerala with an Rs30 billion project, which includes a super luxury apartment complex on the Marine Drive here.
The complex ‘Dewa Royale’, spread across six acres of premium property reclaimed as part of the Goshree project, will be launched today, group chairman K Venugopalan Nair told reporters here.
“We will set new standard for residential space creation in the state in terms of quality of construction and construction material,” he said claiming it was the first project in India that provides a 10-year warranty for the entire complex.
The warranty would be applicable for electrical installations, bathing systems and a slew of instruments, which includes even screws used for fixing doors and windows. On offer are 400 apartments facing Kochi backwaters in six towers surrounded by four acres of landscaped garden that would cost around Rs35mn.
According to Nair the entire project will come up in a 22.5 acre land and the first phase would be completed by 2011 at an estimated cost of Rs15billon. The project also includes a five-star hotel and a convention centre. Most of the investors are Kuwait-based NRIs.
The group and its allied companies have substantial real estate holding in the major cities of India, including Bangalore, Chennai, Thiruvananthapuram and the Andaman and Nicobar Islands, he said.
CPG of Singapore is the master planners of the project while the landscaping is by Guy Stuart & Associates of Australia and X-design from Canada handle interior Space management, he said.
The complex also provides state-of-the-art safety systems and facilities, which includes front doors that expand and resist fire for over an hour or bathrooms that sense and takes care of foul smell.
January 11, 2008 – 1:31 am
Leading real estate developers like Ansals, Confident Group, DLF, Emaar MGF, Housing Development and Infrastrure, Nitesh Estates, Oceanus, Prestige Group, Purvankara, Sobha Developers, Unitech and Parsvanath Developers all have shown their interest for investment in kochi. All leading real estate developers have invested over $2.5 billion.
Kochi is known as the industrial center of kerala. A lot of NRIs are showing their attention towards Kochi. The City offers grand investment opportunities for real estate and huge number of NRI’s are interested to buy homes in Kochi. One of the major factors of this fast growth is rise in number of IT job opportunities. Along with IT industry, city is also growing with tourism and international trade and hence the demand for office space, hotels, restaurant and retail outlets are growing. An industry observer and a former builder said, “Property development and real estate activities have overshadowed the state’s booming tourism sector. This boom witnessed the emergence of many developers and projects”.
Dubai Internet City has chosen Kochi to set up a Smart City project, and for IT and media hub. The initial investment for the Smart City, being executed by the DIC management will be over $400 million. The Smart City would come up in a vast, 1,000 acres of land in the outer edge of Kochi.
In past days, Kochi was not recognized as commercial or industrial investment place but current trends illustrate kochi as an indicator of a revitalize and strong economy.
