Lulu Group launching ₹2,400 cr realty projects in Kerala
In a major fillip to the real estate sector of the state, Lulu Group has recently decided to invest ₹2,400 crore in the Kerala’s IT real estate sector by developing a total of 50 lakh sq.ft space by 2021. Of this, 15 lakh sq ft has already been completed at Lulu Cyber Tower at Kochi InfoPark with world class infrastructure, said Chairman and Managing Director, Lulu Group, MA Yusuff Ali said, adding that the company has already leased out 40% of the space in the new tower and are in the final stage of discussion with two leading IT companies in the US for allotting the remaining space. The 15-lakh sq.ft facility at the Cyber Tower 2 will have a ground plus 19 floors with a floor size of more than 85,000 sq.ft and offering a seating capacity of more than 1,200 persons per floor. The building is having a multilevel car parking for more than 1,400 cars Lulu Group is in the process of constructing malls and hyper markets in Uttar Pradesh, Andhra Pradesh, Telangana, Tamil Nadu and Karnataka and has 154 hyper markets spread across 22 countries, he claimed.
