Portfolio
Forum Information Technology SEZ, Kolkata
Project Details:
Asset Class

Development Size
: Office (Information Technology)
1.4 million square feet
Yatra's Commitment : EUR 16.70 million
Location : Kolkata, West Bengal
Development Partner : Forum Projects Holdings Private Limited
Investment Date : December 2007
Equity Stake : 49%

Project

With a population in excess of 14 million, Kolkata is the largest and most prominent city in eastern India. Progressive government policy in recent years has improved the socio-economic environment in both the city and the state of West Bengal. A number of large infrastructure projects have prompted global companies to establish operations including IBM, Siemens, Cognizant, HSBC, Deutsche Bank and American Express. As a result, Kolkata has witnessed considerable activity and evolution in its real estate landscape.

Yatra has invested in Forum IT SEZ, the first notified Information Technology Special Economic Zone (IT SEZ) in Kolkata. The project is located at Bantala, an upcoming IT corridor within the city. An under-construction road will provide direct connectivity to the airport, and the micro-market is evolving as an extension of Rajarhat, the IT hub of the city.

The 10.5 acre project forms part of a larger IT SEZ spread over 130 acres where industry players such as Cognizant Technologies, Rolta and Tech Mahindra, are setting up their facilities. The project will target companies that either have small space requirements or do not wish to set up their own facilities.

The joint venture partner, Forum Projects is a leading Kolkata based real estate developer with over 20 years of successful track record. Forum has executed some of Kolkata's prominent real estate developments including Forum Mall - the city's first large format shopping mall, Infinity - the first large format IT space and Technopolis - the first green building in the world registered under the United Nations Framework Convention on Climate Change as a Clean Development Mechanism (CDM) project.

Key Highlights

  • The site is well connected to Kolkata's city centre as well as upcoming residential and commercial districts.
  • The project is planned as a LEED compliant green building.
  • The development has a unique appeal being one of the only two multi-tenanted facilities within a larger SEZ.


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