The textile quota regime coming to an end, advent of Information Technology (IT) sector, surge in exports and increase in Business Process Outsourcing (BPO) centres have collectively contributed to create boom in real estate here.
Today Coimbatore is a growing market for residential as well as retail space.
Electronics Corporation of Tamil Nadu (ELCOT) has plans to put up an IT SEZ on 29 acres off Avinashi Road. Bannari Amman Group are going ahead with a hightech SEZ on 100 acres off Avinashi Road.
ETL Infrastructure Services’s IT Park will spread out on 14 acres offering about 8 lakh sq ft of IT space.
Sahara City Homes spread over 113 acres will include shopping mall and multiplex.
Coimbatore is also seeing a number of new malls being developed.
Around five malls with a built up area of approximately 2 million sq ft will be operational in next 2-3 years, according to Knight Frank.
Zee’s Essel Group has acquired land at Peelamedu, to develop retail mall called Forum with a multiplex and food and entertainment centre.
Daga Brothers have plans to set up a mall on Avinashi Road while E-city Ventures will develop a multiplex on 3.5 acres along Coimbatore-Tirupur Link Road.
Saturday, March 03, 2007
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