TRIVANDRUM: 13 May, 2007: The Government of Kerala and SmartCity, a joint venture between TECOM Investments and Sama Dubai, today signed the final agreements to establish SmartCity Kochi at a ceremony held in Trivandrum.

The agreement was signed, in the presence of V S Achuthanandan, the Chief Minister of Kerala, by Ahmad Bin Byat, Executive Chairman of TECOM Investments and Lizzie Jacob, Chief Secretary of the Government of Kerala. Also present were Farhan Faraidooni, Executive Chairman of Sama Dubai, Abdullatif Almulla, Chief Executive Officer of TECOM Investments and Fareed Abdulrahman, Executive Director of SmartCity.

SmartCity Kochi will be one of India's largest business parks. Covering 1 million square metres of land, the project will create an infrastructure and environment for knowledge-industry companies - primarily IT and media related firms - to grow and flourish, based on the successful models of Dubai Internet City and Dubai Media City.

VS Achuthanandan said: "The SmartCity Kochi project comes at a time when Kerala is on the threshold of a new phase of knowledge-based economic development. Knowledge-based industries are increasingly driving the state's economic growth and we are committed to enhancing the conditions for this sector to grow.

"SmartCity Kochi will play a key role in tapping Kerala's enormous potential for the development of key industries like ICT and media. We look forward to working with SmartCity to develop a project that brings wide-reaching benefits to the economy and the people of Kerala."

Bin Byat said: "The agreement we have reached is a win-win situation for both of us and the Government of Kerala. It is a milestone deal filled with great promise. Partnering with the Government of Kerala and the industry, we will develop SmartCity Kochi into a new hub for excellence in knowledge-based industries.

"We look forward to working with all stakeholders to complete a successful project. We require the constant support and commitment of the government at every stage. We are confident that the rapport we have established with them will enable us to work closely at each step."

SmartCity Kochi will attract an investment of about US $350 million. It is estimated to have a built-up space of 8.8 million square feet. Kochi will join Malta as the first two members of a global network of knowledge-based industry townships that Smart City seeks to create. Last month, SmartCity signed an agreement with the Government of Malta to establish SmartCity Malta, a business township to be located in Ricasoli, Malta.

Bin Byat added: "SmartCity Kochi will be a place for some of the best companies from India and across the world to explore partnerships, collaborate and cross-fertilise ideas. Of special focus for us will be the IT-enabled services sector, which has seen a huge boom in India. We seek to create a platform to contribute to this sector's climb up the value chain."

SmartCity Kochi will be the first Indian city that will form part of the global SmartCity network. It is expected that global and national players, a number of which have already demonstrated significant interest in the project, will focus their India operations and business through SmartCity Kochi.

Faraidooni said: "Considering the promise that Kerala's IT sector shows and the overall growth in Indian knowledge-based industries, the project has considerable potential. The complementary fit of TECOM Investments and Sama Dubai along with the expertise of our local partners will ensure the creation of a world class project that meets the highest global benchmarks of quality and technology."

SmartCity Kochi will bring about new employment opportunities in knowledge-based industries as well as in the areas of administration, hospitality, consultancy, construction, tourism, retail and logistics among others.

SmartCity will leverage its relationship with successful clusters like Dubai Internet City and Dubai Media City to raise the interest and secure the participation of global IT and media brands in SmartCity Kochi.

Apart from a state-of-the-art business-community infrastructure for IT and Media companies, SmartCity Kochi will offer a host of business support services as well as tourism, residential, retail and recreational facilities.

Set within an exquisitely designed landscape, SmartCity will feature an architecture that is a blend of modern and local traditional styles.

-Ends- 

About TECOM Investments
A subsidiary of Dubai Holding, TECOM Investments started with the aim of developing the knowledge-based economy in Dubai. This aim addresses a variety of industry sectors including telecoms, media and technology park development. To achieve the ambition of developing the knowledge economy, TECOM successfully initiated a cluster approach in order to tackle each defined component of the knowledge-centric service offering. The clustered approach proved successful not just in the information and communication technology but also in media, education, and biotechnology sectors. TECOM first launched its telecom operations in 2000 with what was the regions first commercial deployment of converged services over a single IP network, offering a range of corporate and residential services, including IP triple play (TV, telephony and broadband internet). TECOM recently announced the acquisition of a 35% stake in Tunisie Telecom. TECOM's other telecom investments include a Axiom, the largest mobile distributor in the Middle East, and Interoute, a next generation IP network connecting together most countries in Europe.

About Sama Dubai
Sama Dubai is a private company wholly owned by Dubai Holding. The international real estate investment and development company focuses on leveraging synergies across international, regional and local real estate sectors. Its aim is the creation of a world class portfolio of partners, properties and investments which distinguish it as a market leader.

Sama Dubai is active across several segments of the real estate development sector including tower buildings (under the 'Dubai Towers' brand), large scale resorts (under the 'Salam' brand), business developments, mega malls and more. 

Sama Dubai's existing projects are:

Dubai Towers - Doha, Qatar

Dubai Towers - Istanbul, Turkey

Dubai Towers - Casablanca, Morocco

Dubai Towers - Dubai, United Arab Emirates

Amwaj - Rabat, Morocco

Salam, Beach Resort & Spa - Bahrain

Salam Mountain Beach Resort & Spa - Yiti, Oman

Marina de Casablanca, Morocco

The Lagoons - Dubai, UAE

For further information:
Rami Adwan
PR Associate Account Manager
JiWiN (The Public Relations arm of Dubai Press Club)
+971 4 3613586
Rami.adwan@jiwin.ae

Alia Alshamsi
Senior Media Relation Executive
Tel: + 971 4 361 3333
Email: alia.alshamsi@jiwin.ae

© Press Release 2007