Kochi- A Lucrative Destination for India and Abroad

January 5, 2008	(2 votes, average: 3 out of 5)  Loading ...
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The industrial capital of Kerala, Kochi is attracting a lot of NRI’s. The city offers grand investment opportunities for real estate and immense number of NRI’s are interested to buy homes in Kochi. One of the major contributors in the city’s fast growth is the increasing number of IT jobs.

Not only this, real estate developers from within the country and abroad see Kochi as the new investment hot spot. The city has attracted not only real estate developers from the country but also from the Middle East. Realty biggies like DLF, Sobha Developers, Ansals, Purvankara, Confident Group, Oceanus, Unitech, Nitesh Estates, Housing Development and Infrastructure (HDIL), Prestige Group, Emaar MGF and Parsvanath Developers have made a cumulative investment of over $2.5 billion in Kochi, the industrial capital of Kerala.

The most reliable names from the Middle East-based business groups that have ventured into Kochi are KGA Group of Kuwait, EMKE Group of Abu Dhabi and Indroyal. Some of them are also investing in the hospitality sector to set up luxury hotels chains.

Kochi has witnessed a price hike of around 60% in 2007 in the real estate sector. In the last six months, half-a-dozen developers have announced their plans to enter Kochi; many have already acquired huge parcels of land. “Property development and real estate activities have overshadowed the state’s booming tourism sector. This boom witnessed the emergence of many developers and projects,” an industry observer and a former builder said.

News Published Under:   Real Estate Developers |

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