Mal­abar Group un­veils plan for Dh1b in In­dia

The Pak Banker - - COMPANIES/BOSS -

Mal­abar Group, a lead­ing player in the gold and di­a­mond trade in the GCC and In­dia, on Tues­day an­nounced its plan to build the first and largest pri­vate sec­tor IT town­ship in Ker­ala that in­volves an in­vest­ment of Dh1.07 bil­lion.

The group's prop­erty divi­sion, Mal­abar De­vel­op­ers, is de­vel­op­ing the mixed-use mas­ter-planned com­mu­nity in Thris­sur, cen­tral Ker­ala. Mal­abar In­te­grated Town­ship is en­vis­aged as a world-class fa­cil­ity where one can live, work and play. The pro­ject, to be com­pleted in five years, will en­com­pass an in­for­ma­tion tech­nol­ogy hub, a com­mer­cial busi­ness clus­ter, a large con­ven­tion fa­cil­ity, a res­i­den­tial com­mu­nity, a shop­ping mall and en­ter­tain­ment cen­tre.

The town­ship, spread across 20 acres, will also host a five-star ho­tel along with a busi­ness ho­tel and an iconic res­i­den­tial tower that will raise the pro­file of Ker­ala in the 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 within 90 min­utes driv­ing dis­tance of three in­ter­na­tional air­ports - Kochi, Coim­bat­ore and Cali­cut," said M.P. Ahammed, chair­man of Mal­abar Group.

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.

Mal­abar De­vel­op­ers, which has de­liv­ered over 1.8 mil­lion square feet in res­i­den­tial and com­mer­cial seg­ments of In­dia, has on­go­ing projects of over three mil­lion square feet and an­other 10 mil­lion sq ft ear­marked for con­struc­tion, which in­cludes around 5,000 res­i­den­tial units in eight cities.

"Mal­abar In­te­grated Town­ship will help not only re­tain and nur­ture lo­cal IT tal­ents, but also help at­tract those scat­tered across other IT hubs in the world," Ahammed said.

Mal­abar In­te­grated Town­ship will also at­tract in­vest­ment in out­sourc­ing busi­ness - which due to a com­pet­i­tive en­vi­ron­ment world­wide - will look at more cost­ef­fec­tive desti­na­tion. When it comes to cost ad­van­tage, no one can beat the cost com­pet­i­tive­ness of Ker­ala.

"Our pro­ject has been care­fully planned to of­fer a greater value to the global IT in­dus­try while look­ing at the econ­omy of Ker­ala and In­dia. The pro­ject, once de­liv­ered suc­cess­fully, will be­come a model for the de­vel­op­ment of mixed-used in­te­grated mas­ter­planned com­mu­ni­ties by pri­vate sec­tor de­vel­op­ers," said P.A. Ibrahim Haji, co-chair­man, Mal­abar Group.

The pro­ject will of­fer of­fice blocks on lease as well as sale for in­vestors and IT com­pa­nies. "As a so­cially re­spon­si­ble busi­ness group, we want to re­align our busi­ness with the needs of the coun­try and our so­ci­ety. Mal­abar In­te­grated Town­ship will help Ker­ala to re­alise its am­bi­tious tar­get of $3 bil­lion busi­ness and 500,000 jobs in the IT sec­tor. Our fa­cil­i­ties and the en­vi­ron­ment will match those in the de­vel­oped world. We want our IT ex­perts and pro­fes­sion­als to en­joy the best work­ing and liv­ing en­vi­ron­ment that money could buy - in Ker­ala," said Ahammed.

Sham­lal Ahamed, group ex­ec­u­tive di­rec­tor, Mal­abar Group, said com­pared to other parts of the coun­try, Ker­ala of­fers 30 per cent lower costs and pro­vides elec­tric­ity at 5.51 per unit, which is the low­est in the coun­try. Such fac­tors will help us achieve the tar­get of 500,000 jobs by 2020. At five per cent, the at­tri­tion rate in Ker­ala is very low, com­pared to 25 per cent in Ben­galuru, he said. At present, there are over 600 IT com­pa­nies op­er­at­ing in the state, and about 11 per cent of the coun­try's to­tal IT work­force is from Ker­ala.

K.P. Ab­dul Salam, group ex­ec­u­tive di­rec­tor, Mal­abar Group, said the so­cial and com­mu­nal har­mony of Ker­ala com­bined with its mod­er­ate and bal­anced cli­mate makes it a pre­ferred desti­na­tion in In­dia. The lo­ca­tion of the pro­ject - Thris­sur - is an in­cu­ba­tor for many en­trepreneurs and is a ma­jor fi­nan­cial and com­mer­cial hub of Ker­ala.

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