The real estate fraternity has welcomed the foundation laying of Visakhapatnam’s first 50 MW AI-powered Edge Data Centre and Open Cable Landing Station (CLS), which was inaugurated on Sunday by IT and HRD Minister Nara Lokesh.

According to E. Ashok Kumar, President of CREDAI Visakhapatnam, the project will significantly strengthen the city’s global digital connectivity and is expected to generate around 500,000 IT jobs, creating vast opportunities for the local workforce.

“This is not merely an IT project; it is a catalyst for economic growth,” Kumar said. “The development is likely to spur housing demand, particularly in and around the Rushikonda IT SEZ.”

He added that the new data centre is expected to help clear a substantial portion of unsold housing inventory, giving developers renewed confidence to launch new projects more aggressively. “Until now, many builders had adopted a cautious, wait-and-watch approach. With the state government’s proactive initiatives, we anticipate a strong revival in the real estate sector soon,” he stated.

The upcoming data centre and cable landing station mark a major step in positioning Visakhapatnam as a technology and innovation hub, capable of supporting next-generation AI, data, and cloud infrastructure, while driving economic and real estate growth in the region.