With a ready supply of skilled manpower and low rentals, Kochi is emerging as a preferred option for corporates, developers and investors looking to expand into tier 2 markets in the country, observes CBRE, an American real estate agency.
According to Ram Chandnani, MD-Advisory & Transaction Serves, India, CBRE South Asia, the overall absorption of office space in the city was more than 0.6 million sq ft.
“The real estate market in Southern India, especially Kochi is at the threshold of future development. Selected as one of the top 20 smart cities by the Government of India, Kochi is considered the commercial capital of Kerala and is expected to receive investment to the tune of Rs 2,076 crore over the next few years. This coupled with various other factors are making it a preferred destination for corporates to set up their operations here. Supporting these benefits is the existing and upcoming infrastructure development of the city which is helping boost the overall real estate market,” said Chandnani in his paper `Kochi – gateway for real estate in Southern India’.
Read more: Times of India
