Kerala gov to engage inter. property consultants to market

In a bid to address the challenge of substantial unoccupied space within three IT parks across the state, the government has opted to enlist the services of international property consultants (IPCs) for marketing purposes.According to government records, an extensive 20 million square feet of built-up space and 1,000 acres of land are readily available within the three principal IT parks and their satellite parks in the state. An additional 10 million square feet of built-up space is currently under development.The decision to involve IPCs in marketing these properties was approved by the cabinet, primarily due to the in-house marketing team for government-owned IT parks facing stiff competition from private developers. These private developers have been establishing their campuses within the same IT parks and are successfully leveraging IPCs to attract multinational companies to occupy their spaces.The cabinet note highlights the importance of engaging IPCs to market government-owned IT parks and spaces, acknowledging the competitive and continuously expanding nature of the market. This strategic move aims to maximize the utilization of available infrastructure and promote the state as an attractive destination for businesses and IT companies.