Thiruvananthapuram | Kerala Chief Minister V D Satheesan on Friday described the proposed Port City initiative as one of the government's dream projects and urged the real estate sector to leverage the state's emerging development opportunities by investing in infrastructure, hospitality and allied sectors.
Addressing the inaugural session of the annual state conference organised by the Confederation of Real Estate Developers' Associations of India (CREDAI) here, the chief minister said builders and developers would be key partners in Kerala's growth story.
"One of our dream projects is the Port City initiative. It is part of Kerala's new development approach aimed at creating enterprises and economic opportunities while opening the state's doors to global investment and trade," Satheesan said.
He said Kerala has two international seaports, 17 minor ports, a container terminal and a coastline of around 600 kilometres.
"Our vision is to integrate all these assets and develop a Port City that serves as Kerala's main gateway to global trade and commerce. That is one of our dream projects," he said.
The chief minister said the project would create enormous opportunities for investment and economic activity.
"As ports develop, townships connected to them will emerge, and tourism-related activities will expand. Logistics, cargo handling, vessel services and several allied sectors will create new opportunities. Kerala can open its doors to a new era of growth, and the real estate sector should be among its biggest beneficiaries," he said.
Satheesan said more construction activity should take place in the state, including the development of hotels to cater to the growing demand from tourists and investors.
"Kochi already has the highest number of five-star hotels in the state, yet rooms are often unavailable due to heavy demand. We have identified zones for five-star, four-star and three-star hotels, and additional arrangements are under way," he said.
He said an international-standard maritime museum and a cultural park named after noted writer M T Vasudevan Nair were among the projects being developed, adding that the government was promoting sustainable and eco-friendly construction practices.
Highlighting Kerala's changing demographic profile, Satheesan said the state also offered significant opportunities for investment in senior citizens' housing and community living projects.
"New concepts of community living are emerging where families and senior citizens can live together. Such projects have been well received, and there is tremendous scope in this sector," he said.
The chief minister said the government was also encouraging tourism projects in plantation areas and promoting value-added economic activities.
He said the government was exploring partnership models involving the government, investors and builders to implement development projects despite financial constraints.
Under the proposed model, the government could provide land while builders developed infrastructure and investors established projects through tripartite agreements.
"Such arrangements will also provide greater confidence to banks and financial institutions. Developers will be our partners in Kerala's development journey. We are aware of the issues faced by the sector, and decisions will be taken quickly, with mechanisms put in place to resolve complex issues effectively," he said.
