In response to rising competition and vast unoccupied spaces in its IT parks, Kerala's government is enlisting international property consultants (IPCs). Aimed at matching the marketing strategies of private developers, the move seeks to promote 20 million sq ft of ready space across three main IT hubs, with an additional 10 million sq ft underway. The strategy mirrors private sector successes in drawing multinational tech giants through IPCs, ensuring Kerala remains a competitive global IT hotspot.
.png)
Amid rising competition and vast unoccupied land in Kerala's IT parks, the state government has taken a strategic step forward. They are now roping in international property consultants (IPCs) to position and market these lucrative properties to potential investors and tech companies.
In a move to keep pace with private developers who have been leveraging IPCs to draw multinational corporations to their campuses, the Kerala government hopes to make the best use of 20 million sq ft of ready built-up space across the three primary IT parks and their affiliated satellite parks. In addition to this, there's an upcoming 10 million sqft of space in the pipeline.
The urgency of this decision was highlighted by the observation that private campuses within these IT parks are leveraging IPCs effectively. This edge, offered by IPCs, allows private players to appeal more robustly to global tech giants, a sentiment echoed in a recent cabinet note. The note emphasizes the necessity of bringing in IPCs for the state-owned IT parks to make them more competitive in a rapidly growing market.
Transparently, the state government has set the consultant fees at two months of lease rent for the company that will lease a built-up space. In contrast, for land leases, the fee is pegged at 1% of the lease premium set as the lease rent.
Among the three primary IT parks, Thiruvananthapuram's Technopark stands out as the nation's pioneering IT park. It sprawls over 766.86 acres and houses a whopping 106 lakh sq ft of built-up space, currently hosting 486 companies. Notably, Technopark boasts of five distinct campuses.
Kochi's Infopark stretches across 323 acres and boasts 92 lakh sq ft of built-up space. This IT hub is home to 572 companies. This park is organized into different phases and associated infrastructures, including Infopark Kochi Phase I and II, among others.
Kozhikode's Cyberpark, designed in collaboration with Kerala State IT Infrastructure Ltd (KSITIL), has taken a unique approach. It has leased five acres of SEZ land from KSITIL to create its maiden IT SEZ building called Sahya. Presently, Cyberpark, with its 3 lakh sq ft of built-up space, accommodates over 84 thriving companies.
In conclusion, this new initiative by the Kerala government, in engaging IPCs, not only reflects the state's commitment to optimizing its IT potential but also ensures that Kerala remains a competitive IT destination on the global map. As the tech world continues to expand, such proactive measures can pave the way for sustained growth and innovation.
Advertisement
Facebook
Whatsapp
