India Investment Property » information technology

Olive Group Expanding To IT Sector

Thu, 28 Aug 2008 15:20:59 +0000

After completing 25 years in real estate industry, Mumbai-based Olive Group is expanding to Information Technology (IT) sector.
Speaking to mediapersons here, P V Mathai, Chairman of Olive Builders, said as part of the diversification, it would associate with the USA-based Millennium Consultant Inc, a leading software company, which has operations in Bangalore and Kochi.
The future expansion plan included infrastructure development, hospitality industry and retail sector and the company was setting its footprints in Coimbatore, Chennai, Mysore and Bangalore, he said.
He said with a view to help the poor, the company has started Olive Foundation and was extending financial aid for building homes to them.

Hi-tech City Project In Kochi

admin — Thu, 26 Jun 2008 12:41:04 +0000

Kochi will soon get international status with the upcoming of hi-tech city project worth five thousand crore rupees. The Bangalore-based Shobha Developers have signed up a MoU with the state government for setting up this hi-tech city. Sobha Hi-Tech City will be an incorporated city with focal point on research and development, knowledge dissemination, information technology and pure and applied sciences. The city is situated close to the NH 47 bypass close to Maradu in Kochi. It will have seven million square feet of knowledge park, commercial space to provide business-friendly environment, hospitality and leisure projects, entertainment and amusement facilities, a marina and residential complexes. The project will be completed in 8yre and would produce seventy five thousand straight jobs.

Gujarat’s first IT SEZ Will Be In Sanathal

admin — Thu, 08 May 2008 09:47:25 +0000

Ahmedabad, May 7 The Pune-based Vascon Engineers Limited has initiated construction of the state’s first Information Technology Enabled Services (ITES) SEZ at Sanathal village off the Sarkhej-Gandhinagar highway.
The project is being jointly developed by Vascon, Agrawal Estate Organisers of Gujarat and Pristine Properties of Pune at a cost of Three hundred fifty crore rupees. It will cover an area of twenty six acres and will be complete in a period of four years. However, the first phase will come up only by May 2009.
The project is estimated to create around 20,000 jobs. The developers claim that more than half a dozen IT companies have agreed to open their operations from this SEZ in the first phase, thereby providing employment to about six thousand people.
Vascon is chiefly involved in real estate and construction business and has only currently diversified in the development of IT parks in Pune. It prefers Ahmedabad for its SEZ after a NASSCOM survey showed the project would be successful in the city.
R Vasudevan, the company’s managing director told mediapersons on Wednesday that he was optimistic that Ahmedabad would appear as an IT hub as the state government has extended all kinds of support in bringing investment to the state.
He said the company’s plans include the construction of a hotel and shopping facilities to meet the demands of the customers as also enough parking spaces, adding that this was their first venture in western India outside Maharashtra.

Tata Realty Builds IT Park

Tue, 29 Apr 2008 06:58:49 +0000

Tata Realty and Infrastructure Ltd declared about agreement with the southern state of Tamil Nadu to build a special economic zone for information technology.

The project, which will see an investment of more than 30 billion rupees, will include a convention centre and a luxury hotel and serviced apartments that will be built in a joint venture with Indian Hotels Co Ltd, another Tata group company.

The first phase of the 4 million square feet zone will be completed by the end of 2009, with the entire project ready by 2011. Special economic zones are large tax-free industrial enclaves created to boost industrial and export growth.