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SmartCity receives Rs 1,200-cr Expression of Interest from Confident Group

Published in General Monday, 01 October 2018 14:56

 

 

 Confident Group, a leading real estate developer in Kerala and Bengaluru, has submitted an Expression of Interest (EoI) for developing residential projects on 15 acres of land within SmartCity Kochi with an investment of Rs 1,200 crore.

“The group has been in discussions with us for the past couple of months and we can confirm that we have received a firm EoI from Confident Group. We have identified the land parcels where residential developments would be prioritized. Subject to completing the processes with the government of Kerala, we are hopeful that the development with Confident Group will further construction activities in SmartCity,” ” said Mr. Manoj Nair, CEO, SmartCity Kochi.

“Relentless passion for innovation, coupled with timely delivery, were the key drivers to consider the development proposal from Confident Group,” he pointed out.

Dr. Roy CJ, Chairman of Confident Group, said SmartCity Kochi, which is planned as an integrated township, will become a sought after community once the Kochi Rail Metro and Water Metro projects are completed.

“We have proposed to undertake the development in phases over five years, once necessary approval from SmartCity Kochi to go ahead is given to us. We have been monitoring the progress of developments in the IT hub of Kakkanad for the past several years, and the current pace of developments in the integrated township will make it an attractive place for community living,” he added.

 

 

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Business Digest August September 2018

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