DUBAI / EMIRATES BUSINESS
Malabar Group, which developed a strong reputation as a gold and diamond jewellery trade, is set to launch Malabar Integrated Township – a mixed-use master-planned community that will be built in Trissur, central Kerala with a development cost of Rs20 billion (Dh1.07 billion; US$293 million). This landmark project is being developed by its property division – Malabar Developers.
Malabar Integrated Township, a city within a city where one can live, work and play will create a community comprising ofinformation technology hub, a commercial business cluster, a large convention facility, a residential community, a shopping mall and entertainment centre. It will also host afive-star hotel along with a business hotel and an iconic residential tower that will raise the profile of Kerala in urban landscape. IT professionals will be able to live and work within the same community that will offer them a perfect work-life balance.Conveniently located on the National Highway 47, the project is situated closely from 90-minutes driving distance of three international airports – Kochi, Coimbatore and Calicut.
The project, that will create more than 50,000 jobs, will be built on a five million square feet area. About 40 per cent of the area will be for residential projects while 30 per cent of the area will be for the IT business park.
The massive project will take Malabar Developers which has been delivering real estate projects since 1995, to a new level and help expand the group’s capabilities to support and help realise the Indian government’s vision to take the economy to the next level. Malabar Developers have been transforming aspirations and landscapes of a great nation and its people delivering over 1.8 million square feet in residential and commercial segments of India. Currently Malabar Developers has on-going projects of over 3 million sqft and another 10 million sqft earmarked for construction which includes around 5,000 residential units within 8 cities across all categories of residences.
Kerala is the first Indian state to have a 100 per cent literate society. The state, therefore, is the preferred base for a 100 per cent knowledge society. The state, which has been producing some of India’s best information technology professionals, however, could not retain them due to lack of IT infrastructure and facilities, something that is changing gradually.