Destination Chennai beckons global investors as realtors prepare strategy to showcase brand Tamil Nadu

Chennai:

It will be Destination Chennai for global investors, as real estate
developers in the city are charting out strategy to showcase brand
Tamil Nadu and Chennai across the globe and country next month prior
to the inauguration of Global Investors Meet to be held on May 23.

Speaking during the sidelines of the event ‘Aiding Real estate Growth
in Chennai’, organized by Jones Lang LaSalle (JLL) India here on
Thursday, former Confederation of Real Estate Developers' Associations
of India (CREDAI) president and national chairman for Code of Conduct
(COC) and Consumer Grievance Redressal Forum CREDAI T Chitty Babu said
that within a month they will be launching the road show to promote
Tamil Nadu and Chennai.

The focus is to promote the brand of Chennai worldwide and highlight
the strength of Tamil Nadu when comparing it with other states of
India, said Chitty Babu.

Ajit Kumar Chordia, president of CREDAI, Chennai, said that CREDAI
will be working with Tamil Nadu government in this initiative which
will be rolled out next month prior to the inauguration of Global
Investors Meet on May 23.

Babu said that the focus would be to highlight the safe sound
environment for global investors besides the availability of various
industries and manufacturing facilities unlike in other states like
Karnataka which is focused only on information technology.

“We will be highlighting healthcare tourism as we have finest
hospitals in the world, automobile sector, textiles besides the
skilled manpower and culture and art of Tamil Nadu,” Babu said.

Earlier, JLL India highlighted how the city has attracted investment
from diverse global economies like US (Ford, Amazon, Ebay), Korea
(Hyundai, Samsung), France (Renault, Michelin), Japan (Nissan Motors,
Komatsu), Germany (BMW, Bosch, Siemens) and UK (Barclay’s, RBS,
Standard Chartered Bank).

Jerry Kingsley, director, markets, JLL, Chennai, said that while there
was a huge demand for office space in Chennai, the supply and demand
in retail space was negligible in the city with not even a single mall
springing up across the city. “The supply for office space in Chennai
is one million square feet but the demand is above four million square
feet,” he said.