India's Dubai Holding-backed Smart City Kochi project in Kerala is seeking investors for the construction of a five-star hotel, particularly from Saudi Arabia and the UAE, according to a report by a sister title of Construction Week.
Speaking to Construction Week’s sister title Arabian Business, Manoj Nair, Smart City Kochi Infrastructure Ltd's chief executive officer, said that preliminary talks had already been held with hospitality and real estate firms for the development.
Dubai Holding owns 84% stake in the Indian infrastructure company, with the remaining 16% held by the Government of Kerala.
“International hospitality chains are interested in taking up management contract of the hotel, so we are now scouting for a developer for the project," Nair said, according to the report.
“We are also open to joining hands with financial investors, including those from Saudi or UAE, to execute the hotel project [as a] joint-development."
Smart City Kochi is a mixed used township located on 100ha of land in Ernakulam, central Kerala.
The project has already entered a co-development agreement with Sands Infrabuild, part of Abu Dhabi's Yusuff Ali M A-led Lulu Group International, to build 152m-high twin towers within its premises.
News of Smart City Kochi's progress comes weeks after Dubai Holding, one of the UAE’s largest developers, unveiled the 550m Burj Jumeira tower, part of the wider Downtown Jumeira development envisioned by the company.