Kerala Secures Rs 850 Crore Investment From UAE Firm For Technopark Phase III

Kerala government has secured a Rs 850 crore foreign direct investment (FDI) from UAE-based Al Marzooqi Holdings FZC for the Meridian Tech Park project at Technopark Phase III in Thiruvananthapuram.

Chief Minister Pinarayi Vijayan announced that the Letter of Intent (LoI) had been signed, marking a new phase in the state’s efforts to attract global investments into its growing IT ecosystem.

Vijayan said that the Meridian Tech Park, designed around sustainability and collaboration, will create over 10,000 jobs and serve as “a symbol of Kerala’s vertical growth and expanding global footprint.”

He added that the project represents “a bold leap forward” in the state’s journey toward becoming a global innovation hub.

The landmark investment comes at a time when the state government had recently introduced comprehensive reforms to the building rules to streamline construction approvals and enhance ease of doing business, a move expected to complement large-scale projects like Technopark’s expansion.

At a press briefing, Local Self-Government Minister MB Rajesh had said that the changes were designed to address long-standing challenges faced by citizens and developers in securing timely permits.

A 14 member expert committee reviewed public grievances raised during district-level adalats before recommending the amendments.

Among the key changes, the Floor Space Index (FSI) for government-owned IT parks has been raised from 4 to 7, while the coverage area has increased from 60 per cent to 70 per cent—a change expected to enable higher-density, vertical developments such as the Meridian Tech Park.

Additionally, the classification of low-risk buildings has been expanded, allowing self-certified building permits for most two-storey residential constructions.

For commercial structures, the maximum area eligible for instant permits has been raised from 100 sq m to 250 sq m, significantly cutting down procedural delays.

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