Kochi (Kerala) [India], March 13 (ANI): Aiming to redefine Kochi's urban landscape and give a fillip to Kerala's economy, a major waterfront urban development project, the Marine Eco City, is set to be developed at Marine Drive here by the Kerala State Housing Board (KSHB).

Conceived as a self-sustainable mode, Chief Minister Pinarayi Vijayan laid the foundation for the mega infrastructure project via online mode at an event held at the KTDC Convention Centre in Bolgatty on March 12.

The National Buildings Construction Corporation (NBCC) will act as the project management consultant on an Engineering, Procurement and Construction (EPC) basis for the ambitious project that will come up on 17.9 acres of prime waterfront land owned by the KSHB.

The development aims to monetise the land parcel while creating a modern residential, commercial and hospitality hub in the city.

A memorandum of understanding for the project was signed between the KSHB and NBCC in 2023, and the project will come up near the BPCL housing complex at Marine Drive

The first phase of the project plans to construct a mixed-use residential-cum-commercial tower with 152 premium apartments and retail or office spaces on 3.16 acres at an estimated cost of around Rs 480 crore, the NBCC said in a statement.

The tower will have Lower Ground Floor, Upper Ground Floor and 26 floors, along with an adjacent parking block. The total built-up area will be about 85,733 sq. metres (around 9.22 lakh sq. ft.), including parking facilities.

The building will feature parking and services in the lower ground and upper ground floors, retail and commercial spaces on the first to third floors, office spaces on the fourth and fifth floors, a clubhouse and recreational facilities on the sixth floor and residential apartments from the seventh to the 26th floor. The residential component will comprise 152 apartments, including 80 three-bedroom (3BHK) units and 72 four-bedroom (4BHK) units, with eight apartments on each floor.

This phase has already received key statutory approvals, including CRZ clearance, Environmental Clearance, Pollution Control Board consent, Airport Authority NOC, Fire pre-NOC, wildlife clearance and GRIHA pre-certification, the NBCC said in a statement.

Under Phase II and Phase III, the remaining 14.74 acres will be developed further. The second phase will include a five-star category hotel with 105 rooms and a convention centre aimed at supporting tourism and business events in Kochi.

Phase Three will consist of six residential towers with 952 apartments, including 538 three-bedroom units and 414 four-bedroom units, designed as LGF plus Ground plus 28-storey buildings. The combined built-up area proposed for these phases is about 44.2 lakh sq. ft., including parking facilities.

NBCC Chairman and Managing Director KP Mahadevaswamy said the company is honoured to be associated with the project and remains committed to ensuring its successful and timely execution.'This landmark waterfront development reflects a forward-looking approach towards integrated and sustainable urban infrastructure. NBCC remains committed to bringing its expertise in project management and execution to ensure the successful and timely delivery of this iconic project for the people of Kerala,' he said.

Once completed, the Marine Eco City Project is expected to emerge as a major urban landmark along Kochi's Marine Drive, strengthening the city's residential, commercial and tourism infrastructure while promoting sustainable and planned urban development.

Among those who attended the foundation stone laying event on Thursday included Revenue and Housing Minister, K Rajan, Rajya Sabha MP PP Suneer, MLA T J Vinod, Geetha A, Housing Commissioner and Secretary KSHB, G Priyanka, District Collector, Kochi, Suman Kumar, Director (Commercial), NBCC, Subhash Punjakottil, Board Member, KSHB, V Unnikrishnan, Technical Member, KSHB, along with senior officers from KSHB and NBCC. (ANI)